Security Paper Market Size, Share, Demand, Trends and Forecast Report till 2025
The security paper market (henceforth, referred to as the market studied) is expected to register a CAGR of 6% during the forecast period 2020 - 2025.
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Top Companies in the Global Security Paper Market: Giesecke+Devrient Currency Technology GmbH, Fedrigoni Group, Infinity Security Papers Limited, Ceprohart SA, Drewsen Specialty Papers GmbH & Co. KG, Simpson Security Papers, Domtar Corporation, A1 Security Print Ltd, Papierfabrik Louisenthal GmbH, Ciotola SRL
- February 2020 - Document Security Systems Inc. announced the launch of the companys AuthentiGuard Security Paper to the general market. It is designed to prevent fraudulent copies and scans, offering eight layered features, ensuring that certificates and documents cannot be tampered with or accurately duplicated.
- With the increasing counterfeit cases in countries, the various governments are seeking innovative ideas for new technologies and methods that could help make banknotes more secure and expected to provide new solutions in the market. Furthermore, the coming trend of paper ballots voting systems in the United States increases the growth of security paper.
- The increase in cases of fraud and counterfeiting is driving the market. According to the Australian government, in FY 2018-2019, 121 applications were not processed on suspicion of dishonesty or fraud, and 255 passports were canceled or refused on national security or law enforcement grounds. Moreover, increased counterfeit in the currency, such as in Canada, the number of counterfeits notes detected in circulation USD 5, USD 10, USD 20, and USD 150 is increasing on a yearly basis. The above factor states that the demand for security paper to prevent counterfeiting drives the market.
- Furthermore, the growth in tourism to increase the demand for visas and passports is driving the market. According to the European Travel Commission, the inbound tourism visitor growth n 2021 will increase highly in the Middle East, Africa, and Asia-Pacific with 6%, 5.2%, and 4.7%, respectively. This tends to increase the demand for security paper.
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Asia-Pacific to Witness Significant Market Growth
- The Asia-Pacific security paper market is projected to grow at a significant rate. The growth of the security paper market in the Asia-Pacific region is attributed to the strong demand for security features, such as watermarks, holograms being embedded during the printing stage of banknotes, passports, and stamps, growing tourism industry, economic stability, increasing incomes, and infrastructure.
- According to the National Immigration Administration (NIA), about 1.05 billion outbound trips were made by Chinese mainland residents from 2009 to 2018, with over 160 million in 2018 alone. Around 13% of the mainland residents have held valid regular passports, and the number has grown approx 200 million at the end of 2019. This instance states the demand for security paper in the passport segment.
- Furthermore, the growth of the market studied in the region is also driven by the increasing demand for banknotes due to the population growth and cash-based economy in some countries such as India and Indonesia. High demand for security papers in the region is attributed to the increased spending on legal services, such as documentation, litigation, and licensing.
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