Security Seals Market Global Demand, Research and Top Leading Player to 2027
Stratview Research delivers key insights on the global Security Seals Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Security Seals Market:
Tyden Brooks
Essentra plc (Ambric Berhad)
Mega Fortris
Unisto AG
Cambridge Security Seals
Dickey Manufacturing Company
American Casting
Manufacturing Corporation
Talisman Security Seals
Leghorn Group Srl.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Security Seals Market value and growth drivers over the trend period of 2022-27. According to the report -
A security seal is an evidence to indicate whether any tampering or security breach to the product inside the shipping containers, truck trailers, chemical drums, airline duty-free trolleys, and utility meters. It is a mechanical device used to seal or lock items that eliminate the need for an expensive or complicated key control program. Their main purpose is to indicate tampering or unauthorized access to a sealed item, prevent opportunistic theft, stowage of arms and explosives, trafficking of contraband, and to prevent contamination; and visualize manipulation attempt. Regardless of lockdowns in several major economies of the world that restricted the movement of vehicles and people, cargo theft has been on the rise since the pandemic broke out. These cargo thefts have not been limited to a particular region; it’s a widespread concern and is scattered across the supply chain from 1PL (party logistics) to 4PL globally. According to TAPA’s Incident Information Service (IIS) database, over €85 million worth of products were stolen from air, road, sea, and rail freight routes in a total of 3,278 cargo theft cases across 46 countries of EMEA during the first half of 2020. The security seals market, which is moving parallelly with the industry’s rebound, is experiencing a gradual rejuvenation in demand from 2021 onwards, translating the security seals’ sales to reach US$ 0.86 Billion in 2026.
Segment Analysis:
Based on Application Type:
Based on the application type, the market is segmented as logistics, healthcare, utilities & services, and others. The Logistics segment is likely to hold undeniable dominance in the market during the forecast period. The dominance is majorly due to the wide application of security seals in overland transportation (curtain side trailer, tank truck, rail coaches, and trailers), water transportation (container, and trailers), and air transportation (pallets).
Based on Region:
Asia-Pacific is projected to maintain its supremacy as well as the fastest-growing market for security seals during the forecast period. China, Malaysia, and Australia are the key countries and largest markets for security seals, generating a considerable market demand. These countries are marked by the presence of a large number of small- to big-sized players serving the market, such as Hoefon Security Seals, Harcor security seals, Essentra plc (Ambric Berhad), ShangHai JingFan Container Seal, and Mega Fortris.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Security Seals Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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