PUBLISHER: SkyQuest | PRODUCT CODE: 1250040
PUBLISHER: SkyQuest | PRODUCT CODE: 1250040
Global Security Paper Market was valued at USD 15.26 billion in 2021 and is expected to reach USD 27.75 billion by 2028. The market is anticipated to grow at a CAGR of 8.92% during the forecast period (2022-2028).
Globally, the paper industry is currently growing. Over the course of the forecast period, there is likely to be an increase in the demand for security paper for a variety of products, including certificates, checks, banknotes, passports, stamp paper, and identification cards, among others. Due to several scams happening more frequently every day, the market for security paper is expanding. The market for security paper benefitted as a result of the government and other businesses, such as banks and passport offices, strengthening paper documents to thwart fraud.
Because of rising living costs and correspondingly higher demand for passports and visas, international travel has become more accessible. This is one of the key contributing factors to the security paper market's ongoing growth. Consumer groups' increasing awareness of scams and demand for defence against forgers are unquestionably having an impact on the security paper industry.
The rapid growth of online banking and digitization could have an effect on the security paper market's explosive expansion. The market for security paper is currently dominated by Glesecke+Devrient GmbH. The business operates in more than 33 countries and brings in about USD 237 billion in revenue.
Top-down and bottom-up approaches were used to estimate and validate the size of Asia Pacific Security Paper Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this region
The global security paper market is segmented into application, security, and region. On the basis of application, the market is divided into passport/visa, banknotes and checks, identity cards, legal and authentication government documents, stamps, certificates, and others. The security paper market is divided based on security into four categories: water marks, holograms, hybrid paper, and colour pigments. On the basis region, the market is segmented into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.
Drivers
The need to maintain document integrity across corporate divisions is growing on a global scale. Security papers are essentially signatures, watermarks, or markings that can be used to confirm that a document is an original. Security papers may also contain paper fibres and substrates that can be used to spot alterations in a document. It is standard procedure to combine security documents with substrate materials to make sure that any indications of fraud or manipulation are obvious.
The global market for security paper is predicted to expand quickly because to the widespread use of documents in business activities. The commercial sector has been a major user of security paper. The worldwide security paper sector will undoubtedly grow as a result of the development of better, more reliable security papers.
Restraint
The absence of international laws governing the usage of security paper is expected to restrain the market. Each country has its own laws governing the use of security paper. These international limitations provide a problem for businesses. This prevents investment in the security paper market, which holds down the sector.
Governments across a wide range of nations have enacted lockdown procedures to halt the disease's spread. As a result, there are now supply and transportation problems, a delay in the construction of infrastructure, and a slowdown in manufacturing activities. The pandemic has had a big effect on the demand and supply chain for security documents.
Market Trends
Cylinder mould technique is used by the vast majority of companies in the global security paper market to produce vivid, three-dimensional watermarks. This particular production technique is only employed by producers of secure paper. Moreover, Louisenthal offers a selection of substrates for banknotes to fit every climatic and circulation situation. These substrates can be used with any security feature to provide defence against counterfeiting. Their cotton-based banknote substrates are perfect for fulfilling the requirements typical of the different banknote denominations of a country's currency.