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

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.