Security Paper Market: Global Industry Analysis and Forecast (2024-2030)

The Security Paper Market size was valued at US$ 20.20 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 6.8% through 2024 to 2030, reaching nearly US$ 32.02 Bn.
Security Paper Market Overview:
An original document is authorized/validated using security paper. It is one of the most widely used procedures for identifying counterfeiting, forgery, and other types of document fraud. The market is expected to be driven by its widespread use in printing currency, legal, and government documents. It is used in a variety of functions, including printing currency, legal, and governmental papers. Hybrid Paper, Watermark, Hologram, Thread and UV Fibre are some of the types of security paper.To know about the Research Methodology :- Request Free Sample Report

Security Paper Market Characteristics:

• Giesecke+Devrient is a Munich-based German company that specialises in banknote and securities printing, as well as smart cards and cash management solutions. The annual revenue of this company was 231 crores EUR in 2022. Giesecke+Devrient is a world security technology company that works in both the digital and physical world. G+D technologies benefit billions of people every day in their personal and professional lives.

• De La Rue's mission is to ensure that every citizen can safely participate in the global economy. De La Rue offers products and services that support the security of trade, personal identity, and the flow of goods as a trusted partner of governments, central banks, and commercial organisations. De La Rue is the first fully integrated supplier of both paper and polymer banknotes, as well as the creator of security mechanisms that safeguard banknotes from counterfeiting. The annual revenue of this company was 46.68 crores GBP in 2022. The Net income of this company was 3.58 crores GBP in 2022.

COVID 19 Influences on the Market:

Various governments around the world have implemented lockdown measures to prevent the disease from spreading. As a result, production operations have slowed or stopped, supply and transportation restrictions have been imposed, and infrastructure has slowed. As a result, demand for security paper has decreased all across the world.

Tier I and tier II manufacturers and suppliers are the main players in the security paper market. These companies' manufacturing and supply chain sites are distributed in Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. Due to the COVID-19 pandemic, most of these players have reduced their production output in recent months. The pandemic has a negative influence on the demand for security papers as well as the supply chain.
Security Paper Market Dynamics:
Growing counterfeiting and product piracy are driving up demand for security papers around the world. Forgeries of passports, certificates, and identity cards have become more common in recent years. During the forecast period, rising counterfeiting activities are expected to boost demand for security paper. Furthermore, rising fraud linked with financial services such as bank checks and fake currency notes is also a driving factor behind the growth of security paper in the banking sector.

As consumers switch to more online and contactless payment choices in response to infection risks, COVID-19 lockdown orders are expected to have the greatest impact on ticket and cheque papers. Continued travel limitations, as well as the shift toward paperless or totally electronic ticketing in the forecast period, have an impact on event and transportation tickets. Banknote and personal ID document demand – particularly passport visa pages – are expected to be less affected and is expected to continue to benefit from increased use of identification papers and the cash economy in developing countries through 2029.

According to the Australian government, 121 applications were rejected due to suspicions of dishonesty or fraud in FY 2023-2029, while 255 passports were cancelled or denied due to national security or law enforcement concerns. Furthermore, the number of counterfeit currency notes identified in circulation is increasing on an annual basis, such as in Canada, where the number of counterfeit notes detected in circulation. According to the abovementioned factor, the market is driven by the demand for security paper to avoid counterfeiting.

Strict government regulation governing the usage of security papers in order to prevent fraud is expected to increase the global security paper market. Increased worry about brand protection is also expected to be one of the global security paper market's key drivers. Furthermore, premium product piracy costs the organization a lot of money. Furthermore, in order to counter product piracy, businesses are accepting security papers.

However, the market for security paper is expected to be restrained by the growing digitization trend. Increased online banking activities are expected to be hindering the global security paper market's growth.
Security Paper Market Segment Analysis:
Based on the Type, the market is segmented into Hybrid Paper, Watermark, Hologram, Thread and UV Fibre, and Others. Hybrid Paper segment is expected to hold the largest market shares of xx% by 2030. Customers are increasingly using hybrid papers because they provide a variety of safety features. As a result, the market for hybrid papers is increasing. Watermarks, threads, UV fibres, and UV printing, for example, are all included in hybrid sheets. Such strong security features are utilised to limit fabricating practises, which has resulted in a worldwide increase in demand for security paper. Technological advancements such as hybrid paper have been significant drivers of the security paper market's growth.

Hybrid papers are special papers with security features like as watermarks, security fibres, and threads that are used in a variety of security documents. Photographic papers, polymer substrates, and fabric are all examples of hybrid papers. Hybrid papers are UV-luminous and contain unique additives and chemical components that protect against mechanical and chemical erasures as well as other sorts of forgeries.

Based on the Applications, the market is segmented into Bank Notes, Passports, Identity Cards, Certificates, Legal & Government Documents, Cheques, Stamps, and Others. Bank Notes segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. Banknotes are the more complicated and prestigious value security papers from a technology standpoint. Cotton-fiber paper, polymer paper, and hybrid paper are the most common materials used to make them. When compared to regular paper, security paper makes banknotes more durable and resistant to wear and tear. Special types of polymers are currently employed to make banknotes because they have a longer life span than paper notes and are fire and water resistant. These are the major key drivers that boost the growth of this segment in the global market during the forecast period 2024-2030.

North America dominates the Global Security Paper market during the forecast period 2024-2030. North America is expected to hold the largest market shares of xx% by 2030. The demand to provide adequate security across company longitudes has increased demand for security paper in North America. Several company operations depend largely on documentation. These are the major drivers that boost the growth of this region in the Global market during the forecast period 2024-2030.

Europe is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. With the rising number of counterfeit banknote cases in Europe, governments are looking for new technology and strategies to help make banknotes safer. This is expected to open up new market opportunity.

Asia Pacific is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. The strong demand for security features such as watermarks, holograms embedded during the printing stage of banknotes, passports, and stamps, the growing tourism industry, economic stability, rising incomes, and infrastructure are all contributing to the growth of the security paper market in the Asia-Pacific region.

According to the National Immigration Administration (NIA), Chinese mainland citizens took over 1.05 billion outbound travels from 2009 to 2022, with over 160 million in 2022. Around 13% of mainland citizens had valid ordinary passports at the end of 2022, and the number had increased by about 200 million. In this case, the demand for security paper in the passport section is stated. Furthermore, the growing demands for banknotes due to population growth and a cash-based economy in some countries such as India and Indonesia drive the growth of the market in the Asia Pacific region. The increasing spending on legal services such as paperwork, litigation, and licensing has resulted in a high demand for security papers in the region.

The objective of the report is to present a comprehensive analysis of the Global Security Paper Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Security Paper Market dynamic, structure by analyzing the market segments and project the Global Security Paper Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Security Paper Market make the report investor’s guide.
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Global Security Paper Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 20.20 Bn.


Forecast Period 2024 to 2030 CAGR:
6.8%
Market Size in 2030:
US $ 32.02 Bn.


 Segments Covered:
by Type
Hybrid Paper
Watermark
Hologram
Thread and UV Fibre
Others


by Applications
Bank Notes
Passports
Identity Cards
Certificates
Legal & Government Documents
Cheques
Stamps
Others



Security Paper Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Security Paper Market Key Players
1. Giesecke+Devrient GmbH
2. De La Rue PLC
3. Fedrigoni Group
4. Security Paper Limited
5. Goznak
6. Document Security Systems Inc.
7. Simpson Security Papers
8. Ciotola SRL
9. Crane Co.
10. Pura Group
11. Shandong Hirun Paper Co., Ltd
12. EPL House
13. Security Paper Mill, Inc.
14. Dipa ZRT.
15. HG Technology SDN BHD
16. Gemini Graaphics Pvt. Ltd.

Frequently Asked Questions:

1] What segments are covered in Global Market report?
Ans. The segments covered in Global Market report are based on Type, and Applications.

2] Which region is expected to hold the highest share in the Global  Market?
Ans. North America is expected to hold the highest share in the Global  Market.

3] Who are the top key players in the Global Market?
Ans. Giesecke+Devrient GmbH, De La Rue PLC, Fedrigoni Group, Security Paper Limited, Goznak, and Document Security Systems Inc. are the top key players in the Global Security Paper Market.

4] Which segment holds the largest market share in the Global  market by 2030?
Ans. Hybrid Paper segment holds the largest market share in the Global market by 2030.

5] What is the market size of the Global Security Paper market by 2030?
Ans. The market size of the Global Security Paper market is US $ 32.02 Bn. by 2030.

6] What was the market size of the Global Security Paper market in 2023?
Ans. The market size of the Global Security Paper market was worth US $ 20.20 Bn. in 2023