Market Size of Security Paper Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Security Paper Market Analysis
The security paper market (henceforth, referred to as the market studied) is expected to register a CAGR of 6% during the forecast period 2021 - 2026.
- 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 Middle East, Africa, and Asia-Pacific with 6%, 5.2%, and 4.7%, respectively. This tends to increase the demand for security paper.
- However, the growth in digitization is challenging the market studied to grow efficiently. The increasing investment in digital transformation by various players in every end-user applications is restraining the market from growing. According to Forbes, about 40% of all technology spending in 2019 went toward digital transformation in the coming future.
Security Paper Industry Segmentation
Security paper is used in security printing that incorporates features that can be used to identify or authenticate a document as the original. Its various applications include currency, payment cards, and stamps.
| Application | |
| Currency Paper/Bank Notes, | |
| Payment Cards | |
| Cheques | |
| Personal ID | |
| Ticketing | |
| Stamp Paper | |
| Other Applications |
| Geography | ||||||||
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| Latin America | ||||||||
| Middle-East and Africa |
Security Paper Market Size Summary
The security paper market is experiencing growth driven by the increasing need to combat counterfeiting and fraud, particularly in the currency and identification sectors. Governments worldwide are investing in advanced technologies to enhance the security features of banknotes and documents, such as watermarks, holograms, and special polymers. These innovations are crucial in preventing the illegal reproduction of currency and ensuring the integrity of official documents like passports and visas. The rise in tourism and the demand for secure voting systems, such as paper ballots in the United States, are further propelling the market. However, the rapid digitization across various sectors poses a challenge, as it shifts focus and investment away from traditional security paper solutions.
The Asia-Pacific region is poised for significant growth in the security paper market, fueled by a burgeoning demand for secure banknotes and documents. This demand is driven by factors such as economic stability, increasing incomes, and a cash-based economy in countries like India and Indonesia. The region's expanding tourism industry and the need for secure passports and licenses also contribute to market growth. The fragmented nature of the market sees both regional and international players adopting strategies to enhance security solutions and share technological advancements. Key industry players, including Giesecke+Devrient Currency Technology GmbH and Fedrigoni Group, are actively developing new products to meet the evolving demands of the market.
Security Paper Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increase in Cases of Fraud and Counterfeiting
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1.2.2 Growth in Tourism Increases the Demand for Visas and Passports
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1.3 Market Restraints
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1.3.1 Growth in Digitization
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1.4 Industry Value Chain Analysis
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1.5 Industry Attractiveness - Porter's Five Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Currency Paper/Bank Notes,
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2.1.2 Payment Cards
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2.1.3 Cheques
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2.1.4 Personal ID
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2.1.5 Ticketing
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2.1.6 Stamp Paper
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2.1.7 Other Applications
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 UK
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2.2.2.3 France
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2.2.2.4 Russia
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2.2.2.5 Italy
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 India
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2.2.3.2 China
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2.2.3.3 Japan
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2.2.3.4 Rest of Asia-Pacific
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2.2.4 Latin America
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2.2.5 Middle-East and Africa
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Security Paper Market Size FAQs
What is the current Security Paper Market size?
The Security Paper Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in Security Paper Market?
Giesecke+Devrient Currency Technology GmbH, Fedrigoni Group, Infinity Security Papers Limited, Ceprohart SA and Drewsen Specialty Papers GmbH & Co. KG are the major companies operating in the Security Paper Market.
