Security Seals Market:
Security seals is a tool used to seal the containers, packaging material or any goods in a way that provides some level of security and protection against tampering. Such seals can assist users to prevent contamination, theft, either accidental or intentional. Security seals are commonly utilized to secure vessel containers, truck trailers, chemical drums, utility meters and airline duty-free trolleys. Security seals market are being increasingly utilized for the last few years as an inexpensive way to secure goods in sensitive spaces. Rise in concerns about safety and security among users in diverse businesses such as banking, manufacturing, and courier service, is expected to drive the security seals market across the globe.
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Global Security Seals Market: Competition Landscape
Presence of prominent players across the globe, who are introducing advanced products and providing reliable security solutions to users, is expected to boost the sales of security seals in the next few years. Furthermore, emerging players across the globe are emphasizing on the development of a wide range of security seals and offering customized solutions in order to cater to the increasing needs of users.
Key players operating in the global security seals market include:
Unisto AG, MEGA FORTRIS GROUP, American Casting Mfg., Tyden Group, Transport Security, Inc., Hoefon Security Products B.V., J. Keller & Associates, Inc., Acme Seals Limited, JW Products Limited, EUROSEAL a.s., and W. W. Grainger, Inc.
Expansion of global transport and logistic market
Rise in global trade is expected to be a major factor boosting the security seals market across the globe. According to International Monetary Fund (IMF), global trade is increasing at 3.8% per year. This is driving the transport and logistics sectors, which in turn boosts the demand for security seals. Security seals are preferred due to their extensive application in transportation and logistics sectors. Their functionality and flexibility is estimated to boost demand further. For instance, the acquisition of U.S.-based logistics company Coyote Logistics by UPS, for US$ 1.8 billion, and the acquisition of France-based forwarder Norbert Dentressangle by XPO Logistics, for US$ 2.8 billion.
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Global Security Seals Market: Segmentation
Based on seal type, the global security seals market can be segmented into:
- Cable seals
- Padlock
- Bolt Seals
- Plastic Seals
- Electronic Tracking & Sensing Seals
- Tamper-Evident Seals
- Others (Tote Box Seals, Barrier Seals, Security Tape, etc.)
Based on by degree of protection, the global security seals market can be classified into:
- High Security Seals
- Security Seals With Cables
- Indicating Seals
Based on operation, the global security seals market can be bifurcated into:
- Single Use
- Reusable
Based on application, the global security seals market can be segregated into:
- Retail
- Banks / Cash in Transit
- Security Station
- Government
- Chemicals / Pharmaceuticals
- Utilities
- Airlines & Transportation
- Post / Courier Services
- Specials / Customized Solutions
- Others (Packaging, Food, etc.)
In terms of distribution channel, the global security seals market can be split into:
- Online Channel
- Offline Channel
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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