USD 11.87 billion
Security Paper Market Size, Share, Growth Analysis, By Component(Substrates, Watermarks, Threads, Holograms), By Application(Bank Notes, Passports, Identity Cards, Certificates), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45C2058 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
70
|Figures:
75
Security Paper Market Insights
Global Security Paper Market size was valued at USD 14.50 billion in 2022 and is poised to grow from USD 15.31 billion in 2023 to USD 23.68 billion by 2031, growing at a CAGR of 5.6% during the forecast period (2024-2031).
The paper business is expanding now on a global scale. The demand for security paper for different goods, including certificates, checks, banknotes, passports, stamp paper, and identification cards, among others is likely to increase over the forecast period. The security paper market is growing as a result of several scams occurring more often each day. Government and other businesses, including banks and passport offices, strengthened paper documents to prevent fraud, which had a favourable impact on the market for security paper.
Traveling abroad has become more affordable because to rising living standards, which has increased demand for passports and visas. This is also one of the important contributing factors to the enduring expansion of the security paper industry. The security paper industry is undoubtedly being impacted by consumer groups' growing awareness of frauds and their increased demand for protection against counterfeiters.
The explosive expansion of the security paper market may be impacted by the increase in online banking activity and digitization. Glesecke+Devrient GmbH is the leading player in the security paper market. The company generates a revenue of around USD 237 billion from its operation across more than 33 countries.
US Security Paper Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hybrid paper
Fastest Growth
Hybrid paper
Growth Rate
5.5% CAGR
Global Security Paper Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Security Paper Market Segmental Analysis
Global Security Paper Market is segmented by Component, Application, and Region. Based on Component, the market is segmented into Substrates, Watermarks, Threads, Holograms, and Others. Based on Application, the market is segmented into Bank Notes, Passports, Identity Cards, Certificates, Legal & Government Documents, Cheques, Stamps, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Security Paper Market Analysis by Application
The bank notes category is anticipated to expand significantly from 2022 to 2028. From a technological perspective, banknotes are the most complex and prestigious value security documents. The three most popular types of materials used to manufacture them are cotton-fiber paper, polymer paper, and hybrid paper. Bank notes have a good strength and tear resistance property as compared to standard paper, they last longer than paper notes and are fire and water resistant, specific kinds of polymers are now used to create them.
Security Paper Market Analysis by Security
By 2028, the hybrid paper segment is anticipated to have the biggest market share. Hybrid paper can have watermarks, threads, UV fibres, and UV printing. Due to these safety features that hybrid paper sheets offer, customers are utilising them more frequently. The use of such robust security characteristics is used to restrict fabrication techniques, which has increased demand for security paper globally. The development of the security paper industry has been significantly fuelled by technological developments like hybrid paper.
Global Security Paper Market By Security
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Security Paper Market Regional Insights
In 2021, the Asia Pacific security paper market, which includes China and India dominates the market globally. It is anticipated that the Asia-Pacific security paper market would expand significantly. The sales growth for security features like watermarks and holograms that are incorporated during the printing stage of banknotes, passports, and stamps, the expanding tourism sector, economic stability, rising incomes, and infrastructure are all factors that have contributed to the growth of the security paper market in the Asia-Pacific region.
The expansion of the market in the region under study is also fueled by the rising demand for banknotes brought on by increasing population and the cash-based economies of some nations, such India and Indonesia.
According to the Chinese Ministry of Transport, there were 53 million more drivers in China in 2018 than there were the year before. This reduces the requirement for government permits, whose demand of security paper rose along with the demand for natural manufacturing resources like cotton and pulp.
In 2021, North America had the second largest portion of the global market. The United States is one of the biggest consumers of security paper market in the world. Growing consumer awareness is one of the reason, the security paper market in North America is predicted to increase significantly. The market is anticipated to expand at a moderate rate in Latin America.
In 2021, Europe had the third largest proportion in the global market. This market has been extensively developed in all of the Europe some major nations including Germany, Spain and United Kingdom, Russia, Italy and France. Germany and UK are expected to experience faster growth in the global security paper market then other European nation due to technical advancement in these two nation.
In the very near future, consistent growth rates are anticipated for the Middle East and Central and South America.
Global Security Paper Market By Region
- Largest
- Fastest
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Security Paper Market Dynamics
Security Paper Market Drivers
- Globally, there is an increasing demand to keep document integrity across corporate divisions. In essence, security papers are markings, signatures, or watermarks that may be used to verify that a document is an original. Security papers may also include paper fibres and substrates that may be used to determine whether or not a document has been altered. It is common practise to mix security documents with substrate materials to make sure that any evidence of tampering or false paperwork is readily apparent.
- The usage of numerous documents in corporate operations is expected to cause the worldwide market for security paper to grow quickly. A significant user of security paper has been the commercial sector. The production of better and more dependable security papers will probably lead to an expansion of the security paper industry globally.
Security Paper Market Restraint
- The market is anticipated to be constrained by the lack of global regulations governing uses of security paper. Regarding the use of security paper, each nation has its own regulations. These national restrictions provide a challenge for businesses. This inhibits investment in the market for security paper, which restrains the industry.
- Lockdown measures have been implemented by governments in many different nations throughout the world to stop the disease's spread. As a result, supply and transportation constraints, a delay in infrastructure development, and a slowdown in manufacturing operations have all occurred. The demand and supply chain for security documents have been significantly impacted by the pandemic.
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Security Paper Market Competitive Landscape
Due to the existence of both local and foreign suppliers, the market under study is fragmented. Players in the market under study are implementing new security features and sharing the current technology for mutual gain by utilising inorganic development techniques. The Fedrigoni Group and Giesecke+Devrient GmbH are main participants.
Top Players in the Global Security Paper Market
- Glesecke+Devrient (Germany)
- De La Rue PLC (UK)
- Security Printing and Minting Corporation of India Limited (SPMCIL) (India)
- Real Casa De La Moneda (FNMT-RCM) (Spain)
- Goznak (Russia)
- China Banknote Printing and Minting Corporation (CBPM) (China)
- Drewsen Spezialpapiere GmbH & Co. KG (Germany)
- Document Security Systems (US)
- Simpson Security Papers (US)
- Ciotola SRL (Italy)
- Crane Co. (US)
- Pura Group (Indonesia)
- Shandong Hirun Paper Co., Ltd (China)
- EPL House (India)
- Security Paper Mill, Inc. (Bangladesh)
- Dipa ZRT. (Hungary)
- HG Technology SDN BHD (Malaysia)
- Gemini Graaphics Pvt. Ltd. (India)
- Portals Paper Ltd. (UK)
- Papeterie Zuber Rieder (France)
- Kan'to Digital Printing Solutions (Israel)
Security Paper Market Recent Developments
- In February 2020, AuthentiGuard Security Paper was introduced to the general market, according to a statement from Document Security Systems Inc. With eight layered features and a design that prevents fraudulent copies and scans, it guarantees that certificates and other documents cannot be altered or correctly replicated.
- In July 2019, the Bank of Italy and Istituto Poligrafico e Zecca dello Stato (IPZS) announced that they had established a new firm, Valoridicarta SpA, to make premium watermarked paper with integrated holograms and security features.
Security Paper Key Market Trends
- Majority of businesses in the global security paper market use cylinder mold technology to create vibrant, three-dimensional watermarks. Only manufacturers of secure paper use this unique production method. Additionally, Louisenthal provides a variety of banknote substrates to accommodate all climatic and circulation circumstances. To offer protection against counterfeiting, these substrates can be combined with any security feature. Their cotton-based banknote substrates are ideal for meeting the specifications common to the various banknote denominations of a nation's currency.
Security Paper Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we have found that greater range of applications will be possible for the product in the downstream market as a result of technological innovation and progress that will further enhance its performance. The various governments are looking for creative solutions for fresh technologies and approaches that might aid to make currency more secure and are anticipated to provide fresh options on the market in light of the rising number of counterfeit cases in various nations. Furthermore, the expansion of security paper is accelerated by the US tendency toward voting systems using paper ballots. The market analyzed with increased security is anticipated to grow as banknote value and volume rise on an annual basis, which tends to boost the growth in counterfeit of various denominations.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 14.50 billion |
| Market size value in 2031 | USD 23.68 billion |
| Growth Rate | 5.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Security Paper Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Security Paper Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Security Paper Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Security Paper Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Security Paper Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Security Paper Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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