Security Paper Market Size, Share & Trends Report

Security Paper Market Size, Share & Trends Analysis Report By Type (Hybrid Paper, Watermark, Hologram, Thread & UV Fiber), By Application (Currency/Bank Notes, Legal & Government), And Segment Forecasts, 2019 - 2025

  • Published Date: Jul, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-218-1
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 120

Industry Insights

The global security paper market size was valued at USD 15.26 billion in 2018 and is expected to register a CAGR of 7.0% from 2019 to 2025. A security paper is used to validate an original document. It is one of the most preferred methods for detecting alteration, counterfeiting, forgery, and other forms of document-related frauds. Its wide use for printing currency, legal, and government documents is anticipated to drive the market.

Counterfeiting of documents and bank/currency notes leads to major losses to governments, companies, and individuals. Rapidly rising demand for anti-counterfeit technologies in applications such as bank checks and currency printing is expected to drive the product demand.

U.S. security paper market

Many major manufacturers of currency notes papers are now focusing on exploring new business opportunities and expanding their product portfolio to meet the emerging requirement of corporate, education, and healthcare sectors. These companies are aggressively working on developing emerging technologies such as magnetic microwires and hologram as part of their product development plan.

Increased adoption of security papers has enabled companies, individuals, and regulatory agencies to effectively restrict misuse of essential documents. The manufacturers also assist companies in developing customized papers with multiple features and types such as holograms, watermark, thread, and UV fibers, among others.

The security paper used for banking applications is required to comply with the global Clearing Bank Standard (CBS). The CBS standard is a set of paper specifications defined by banks to ensure that the printed forms can be processed through automatic document feeders. According to the U.S. government’s Intelligence Reform and Terrorism Prevention Act of 2004, all the states are required to print birth certificates on safety papers to prevent counterfeiting, duplication, and tampering of the document.

Technological developments such as hybrid paper have emerged to be the major growth drivers for the market. The key manufacturers are working towards the development of highly secured technologies and are focusing on including them as part of their product offering. However, the rapidly increasing digitalization and emergence of blockchain technology is anticipated to have a negative impact on the market as various businesses and individuals are shifting towards digital and online payment options due to enhanced security and convenience.

Type Insights

On the basis of type, the security paper market can be classified into hybrid paper, water mark, hologram, and thread and UV fiber, among others. The hybrid paper segment led the market in 2018 owing to its adoption in BFSI applications such as currency notes, passport and visa, and legal documents among others. Over the forecast period, hologram segment is anticipated to witness significant growth due to increase in adoption by corporate, education, government, transportation and logistics, and healthcare sectors.

Over the last few years, industry is witnessing growing investments in R&D and adoption of advanced security types such as magnetic microwires and UV Fiber for enhancing document security and reducing the number of counterfeits. These developments have emerged as the major growth drivers for the market.

Application Insights

Based on application, the market has been segmented into currency notes, passport and visa, identity cards, legal and government, certificate, bank documents, medical report and prescription, transportation and logistics, and others. The currency notes segment leads the market owing to the constant printing, circulation, and reprinting of banknotes, coupled with the rise in a number of cases of counterfeit notes.

Europe security paper market

The legal and government documents segment is expected to witness the highest CAGR over the forecast period owing to the multiple government initiatives such as the Government of India’s Pradhan Mantri Jan Dhan Yojana and Unique Identification Number (UID) initiative. China’s Plan for Advancing the Development of Financial Inclusion (2016-2020) is also projected to have a major impact on market growth in Asia Pacific. Majority of R&D institutes and companies have a robust data security applications to protect digital data. However, companies are finding it difficult to prevent data leaks through conventional paper based files.

Printing of currency notes is a continuous process to ensure effective circulation in the economy. However, the rapidly increasing digitalization and emergence of blockchain technology is anticipated to have a negative impact on the growth as various business and individuals are shifting towards digital and online payment options due to enhanced security and convenience.

Regional Insights

Currently, Asia Pacific leads the market owing to the growing population, high preference for cash transactions, and various government initiatives aimed at rapid expansion of the BFSI infrastructure. Moreover, Asia Pacific is witnessing higher migration of individuals to foreign countries for jobs and higher studies. Hence, the demand for security paper for passport and visa application is anticipated to witness significant growth over the forecast period.

Due to increased digitization in government and private sectors and higher penetration of plastic money, North America and Europe regions are anticipated to be a less attractive markets over the forecast period. Sweden is well placed to become the world’s first cashless country by completely shifting to digital currency. High demand for security papers is attributed to the increased spending on legal services such as documentation, litigation, and licensing.

Security Paper Market Share Insights

The key players operating in the market include Security Paper Mill, Inc.; China Banknote Printing and Minting Corporation; Document Security Systems, Inc.; Ciotola S.R.L.; Security Paper Limited; Sequana; Giesecke+Devrient GmbH; Fedrigoni Group; Goznak; and Security Printing and Minting Corporation of India Limited (SPMCIL), among others. Companies are majorly focusing on strategic initiatives such as joint venture, partnership, contract, acquisition, and expansion to enhance their market presence.

Major market players are making substantial investments in R&D projects and are setting up the required production infrastructure for implementing advanced technologies such as magnetic microwires and hologram. China Banknote Printing and Minting Corporation closely works with the People's Bank of China, which has established its own research division for development of printing technology. The division is focused on developing new technologies for banknotes.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S., Canada, U.K., Germany, India, Japan, China, and Brazil

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global security paper market report based on type, application, and region:

  • Type Outlook (Revenue, USD Million, 2014 - 2025)

    • Hybrid Paper

    • Watermark

    • Hologram

    • Thread & UV Fiber

    • Others

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Currency Notes/Bank Notes

    • Passport & Visa

    • Identity Card

    • Legal & Government Documents

    • Certificate

    • Bank Documents

    • Medical Report & Prescription

    • Transportation & Logistics

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • Middle East & Africa (MEA)

Key questions answered by the report
Request for Customization

Choose License Type

Single User - $5,950
Multi User (2-5) - $6,950
Enterprise Access - $8,950

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • grand view research PCI DSS complaint grand view research paypal verified