Global Security Paper Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027
“Global Security Paper Market” is the title of a research report currently under study and research at MarketResearch.biz. A range of factors have been examined and considered in the course of the study and analysis, and the findings in the global market have been validated and verified through industry experts before presentation in the report. Vital data and information includes restraints, market growth factors, trends, threats and revenue opportunities in the market. In addition, detailed information regarding key players in the market is presented in the company profile section. Recent developments, acquisitions, and strategies, and mergers, etc. are also included. The security paper market is segmented on the basis of type, application, and region.
Security paper is paper used to identify, validate or authenticate documents as original. Security paper used in security printing enables detection of invisible fibers in paper or watermarks. The security paper market has been rapidly evolving in terms of technological advancements in the recent past. Manufacturers are constantly focusing on improving or advancing security levels in the paper produced. In addition, security papers are primarily used in departments and divisions in the government sector. Counterfeiting and fraud can be stopped using security papers. In addition, security paper is used to validate checks, stamp papers, identity cards, passports, certificates, and other sensitive documents. This is the ideal method for detecting counterfeiting, alteration, forgery and many other document-related frauds. Security paper is also widely used to print government and legal documents and currency. Major losses to companies, governments, and individuals due to counterfeiting of banknotes and documents are among some of the key factors driving demand. Currently, the industry is witnessing increasing demand for enhancing document security to reduce the number of counterfeiting and fraud-related crimes and incidents. Recent developments have become a major factor that is driving growth of the global security paper market. Increasing applications of security paper based on advanced technology is expected to further drive market growth.
A major factor driving growth of the global security paper market currently is its wide use in printing banknotes and currency. In addition, increasing demand for anti-counterfeit technologies in various applications such as currency printing and bank checks is expected to drive growth of the market. Many known currency note paper manufacturers are currently focusing on new business opportunities to expand product portfolios. The objective of this strategy is due to increasing need for security for documents secured from education, corporate, and healthcare sectors, and need for added level of security and authenticity. As part of developing their business, companies are focusing on adopting emerging technologies such as hologram and magnetic microwires. Increased adoption and use of security papers has enabled users to efficiently restrict the misuse of sensitive documents. In addition, development of customized and more efficient papers of multiple types and features such as watermarks, holograms, and threads is currently ongoing. Security paper that is widely used in banking applications is currently required to comply with the global Clearing Bank Standard (CBS). This is to ensure that it can be processed through automatic document feeders. In the US, all states are requested to print birth certificates on safety papers in order to prevent counterfeiting, tampering, and duplication of documents. All these recent development is expected to further drive growth of the global security paper market. In addition, technological advancements such as introduction of efficient hybrid paper is also expected to aid in growth of the market. However, emergence of known blockchain technology and digitalization such as online payment options are factors expected to create negative impact on the market.
Global Security Paper Market Market Segment Analysis:
By Type: Among the type segments, the hybrid segment accounts for majority revenue share currently, and this is attributed to its wide adoption in BFSI applications such as passports and visas, and currency notes and legal documents.
By Application: The currency notes/bank notes segment among the application segments is projected to account for highest compounded annual growth rate, and the trend is expected to continue over the forecast period. Immigration to foreign countries increases demand and need for security paper to print visas, passports, and other related documents.
Global Security Paper Market Regional Analysis:
The market in Asia Pacific is projected to maintain its dominance in terms of revenue and sales of security paper. This is attributed to the growing population in countries in the region, coupled with other attributes such as a high preference for cash transactions and expansion of BFSI infrastructure.
Global Security Paper Market Segmentation:
- Thread & UV Fiber
- Currency Notes/Bank Notes
- Passport & Visa
- Identity Card
- Legal & Government Documents
- Bank Documents
- Medical Report & Prescription
- Transportation & Logistics
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Security Paper Mill, Inc.
- China Banknote Printing and Minting Corporation
- Document Security Systems, Inc.
- Ciotola S.R.L.
- Security Paper Limited
- Giesecke+Devrient GmbH
- Fedrigoni Group
- Security Printing and Minting Corporation of India Limited (SPMCIL)
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