The global security paper market size is expected to reach
USD 24.33 billion by 2025, according to a new study conducted by Grand View
Research, Inc. It is anticipated to expand at a CAGR of 7.0% over the forecast
period. Growing demand for anti-counterfeit technologies in applications such
as currency printing and printing bank checks is expected to be the key growth
driver. Security paper protects critical document against alteration and
forgery by using multiple security technologies such as watermark, hologram,
and Ultraviolet (UV) fiber and threads.
Over the last few years, the rapid
proliferation of advanced printing technologies has led to an increase in the
circulation of fake notes, passports, visas, and certificates, among others.
There has also been a significant increase in the number of fraud cases
reported worldwide. In order to overcome these issues, the security paper
manufacturing industry is focusing on the development and application of
advanced security features such as hologram and magnetic microwires. These
security features are anticipated to offer improved document security to
prevent counterfeiting in comparison to that of the traditional methods
mentioned above.
Currency notes and bank documents are the
major applications of security paper. Printing of currency notes is a
continuous process to ensure effective circulation in the economy. However,
emergence of blockchain technology and growing digitalization is restraining
the growth of the security paper market as more business and consumers are
shifting towards online payment options due to enhanced convenience and
security.
Asia Pacific (APAC) is expected to drive the
demand for security papers over the forecast period owing to various government
initiatives and regulations and rapid expansion of BFSI infrastructure. Recent
demonetization and Unique Identification numbers (UID) initiative by the
Government of India (GoI) is expected to propel the demand. The Pradhan Mantri
Jan Dhan Yojana, a financial inclusion program by the GoI, which aims to
provide affordable access to financial services to rural population is also
expected to be the major growth driver for the product adoption in the regional
BFSI sector.
For full research report on Security
Paper Market visit here:
https://www.grandviewresearch.com/industry-analysis/security-paper-market
Further key
findings from the report suggest:
- Government initiatives such as China’s Plan
for Advancing the Development of Financial Inclusion (2016-2020),
Government of India’s “Pradhan Mantri Jan Dhan Yojana” and Unique
Identification Number (UID) initiative have a positive influence on the
adoption of security paper in APAC
- Hybrid paper is anticipated to emerge as the
fastest growing segment over the forecast period owing to the increased
adoption of the product for government application in North America and
Europe
- Currency notes application segment is
anticipated to lead the security paper market over the forecast period due
to government initiatives such as demonetization (India) and re-printing
of currency notes
- The key market players include Security Paper
Mill, Inc.; China Banknote Printing and Minting Corporation; Document
Security Systems, Inc.; Ciotola S.R.L.; Security Paper Limited; Sequana
Group; Giesecke & Devrient; Fedrigoni Group; Goznak; and Security
Printing and Minting Corporation of India Limited (SPMCIL)
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/security-paper-market/request/rs1
Grand
View Research has segmented the global security paper market based on type,
application, and region:
Security
Paper Type Outlook (Revenue, USD Million, 2014 - 2025)
- Hybrid Paper
- Watermark
- Hologram
- Thread & UV
Fiber
- Others
Security
Paper Application Outlook (Revenue, USD Million, 2014 - 2025)
- Currency Notes/Bank
Notes
- Passport & Visa
- Identity Card
- Legal &
Government
- Certificate
- Bank Documents
- Medical Report &
Prescription
- Transportation &
Logistics
- Others
Security
Paper Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East &
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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