Security Seals Market Report
Security Seals Market Size, Share, Trend, Forecast, & Competitive Analysis: 2021-2026 See less
Security Seals Market Size, Share, Trend, Forecast, & Competitive Analysis: 2021-2026
Security Seals Market is Segmented by Product Type (Padlock Seals, Bolt Seals, Strap Seals, Cable Seals, and Other Seals), by Material Type (Metal Seals and Plastic Seals), by Application Type (Logistics, Healthcare, Utilities & Services, and Others), by Adjustment Type (Fixed Seals and Adjustable Seals), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
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
Security seals are mostly designed for one-time use; however, few of them are reusable electronics seals, whose demand is escalating at a handsome rate. There are different types of security seals with each having unique properties and used for different applications. These seals can be classified on the basis of their level of security provided to the substrate as high-security seals, security seals, and indictive seals. High-security seals, such as bolt seals; provide the highest level of security which also meet or exceed the ISO 17712 high-security standards. The cable security seals are available with unique printed serial numbers for identification purposes and with many customization options, such as different colors, printing options, and markings. Security seals allow for an easy and reliable security solution for all types of industries.
There are majorly two regulating standards for security seals, International Organization for Standardization (ISO), and Customs-Trade Partnership Against Terrorism (C-TPAT) to avoid cloning security seals using the 3D printing technology. People may not have acknowledged the significance of security seals outside the transportation industry, but security seals are widely used across various sectors i.e., in entertainment, healthcare, food & beverage, law enforcement, manufacturing, petrochemical, postal & courier, retail, and utilities, etc. for numerous applications, such as to seal the utility meters, atm cassettes, gaming chips, tanker valves, clinical waste, fire doors, fire extinguishers, and forensic evidence.
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.
On the basis of material type, the market is segmented as metal seals and plastic seals. Metal seals are likely to remain the most dominant whereas plastic seal is to gain greater acceptance in the market during the forecast period, driven by the growing usage of plastic seals in e-commerce, retail industry, and pharmaceutical industry. They are also ideal for securing intermodal containers worldwide as they required a special bolt cutter for the removal of metal bolt seals.
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 the product type, the market is segmented as padlock seals, bolt seals, strap seals, cable seals, and others. The study based on the types of products identifies the strap seals as the most dominant product as well as the fastest-growing product in the market during the forecast period. The strap seals (fixed length and variable length) used in all industries for the diversity of applications like fixed-length type strap seals find their application widely to seal cash in transit, tanker valves, truck, and containers while adjustable length type of strap seals used in clinical waste, courier bags, roll cages, and airline carts. Further, top companies are trying to bring different innovative seals in the market to maintain their leading positions; For instance, GPS (Global Position System) chip by Hoefon is in the early stage of development but is expected to be available in the next two to three years.
In terms of 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.
The supply chain of this market comprises raw material suppliers, security seal manufacturers, distributors, and users.
Some of the key players in the security seal market are-
The key end-users of this market include the transportation industry and the healthcare industry.
After analyzing and understanding the dynamics of seals in detail in our reports on “Transportation Security Seals Market” and “Airline Security Seals Market”, Stratview Research has completed another study on the “Overall Security Seals Market”. This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s security seals market realities and future possibilities for the forecast period 2021 to 2026. The report segments and analyzes the market in the most comprehensive manner to provide a panoramic view of the market. The strategic report also studies and analyzes the impact of COVID-19 on the market and provides a detailed overview of the possible market recoveries in the long run. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits available as well as formulate growth strategies for the short as well as long term
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We have conducted more than 15 detailed primary interviews with the market players across the value chain in all five regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The security seals market is segmented into the following categories.
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The security seals market size is expected to reach US$ 0.86 Billion in the foreseeable future.
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 are among the key players in the security seals market.
Asia-pacific is expected to be the fastest growing security seals market during the forecast period.
The strap seals segment is expected to remain the dominant product type in the security seals market in the coming years.
The Logistics segment is expected to remain dominant in the security seals market during the next five years.
Metal seals are expected to remain dominant material type in the security seals market during the forecast period.
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