The global security paper market size was valued at USD 17.38 billion in 2023. The market is projected to be worth USD 18.47 billion in 2024 and reach USD 31.46 billion by 2032, exhibiting a CAGR of 6.89% during the forecast period.
Security paper integrates multiple safeguards that ensure the legitimacy of documents such as identity cards, certificates, and currency, playing a key role in anti-counterfeiting measures. The adoption of blockchain technology to combat counterfeiting and fraud is further supporting the growth of the market by improving the security and traceability of documents.
COVID-19 caused supply chain disruptions and boosted digitalization. This shift to digital payments diminished demand for physical banknotes and secure documents, impacting market growth.
Fortune Business Insights™ provides this information in its research report, titled “Security Paper Market, 2024-2032”.
Segmentation:
Threads Segment Leads Improved Verification and Anti-Counterfeiting Measures
In terms of security feature, the market is segmented into fibres, inks, watermarks, holograms, threads, and others. The threads segment secures the dominant security paper market share. With embedded fluorescence patterns, text, or numbers, threads simplify document verification and effectively prevent tampering, fueling growth in this segment.
Currency/Banknotes Segment Dominates owing to Anonymity in Transactions
On the basis of application, the market is fragmented into passport/visa, cheques, identity cards, legal & government documents, certificates, tickets, currency/banknotes, and others. The currency/banknotes segment holds the apex position in the market. Paper currency allows for anonymous transactions, making it appealing for those seeking to conceal activities from regulatory oversight, supporting its demand.
In terms of region, the market is categorized into Europe, North America, the Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report offers a detailed analysis of the competitive market landscape, highlighting leading companies, product categories, and key applications. It provides valuable insights into emerging trends, significant industry developments, and factors influencing the growth of the market. Rather than this, the report also highlights the COVID-19 pandemic impact on the industry.
Drivers and Restraints:
Surge in Counterfeiting Activities Worldwide to Stimulate the Expansion of the Market
The increasing counterfeit production of critical documents such as passports, currency, and ID cards is boosting the demand for such products to ensure authenticity and prevent fraud. Moreover, the product with advanced features to prevent forging and unauthorized copies are becoming essential, driving security paper market growth as the need for secure documentation intensifies.
However, the move toward digital payments and document digitization is reducing the reliance on physical security papers in sectors such as banking and government, limiting market growth.
Regional Insights:
Asia Pacific Dominates the Market Owing to Rising Demand For Anti-Counterfeiting Measures
Asia Pacific leads the global security paper market due to rising demand for anti-counterfeiting measures across industries and strong economic growth in the region. One of the other reasons that spurs the growth of the industry is the robust economic development across the region.
North America ranks second in the market, driven by high demand for U.S. currency and anti-counterfeiting solutions, fueled by the global prominence of the U.S. dollar. Soaring need for anti-counterfeiting solutions is another factor that has fuelled the expansion of the market.
To get to know more about the market, please visit: https://www.fortunebusinessinsights.com/security-paper-market-110541
Competitive Landscape:
Key Players Emphasis on Advancements to Expand their Customer Base
The security paper market is fragmented and competitive, dominated by major players such as Crane & Co., Giesecke+Devrient, and Louisenthal. These industry leaders are expanding their customer base through product innovation and advancements in packaging solutions.
Key Industry Development:
April 2023– Hong Kong’s NanoMatriX launched MatriX-Intaglio, a high-security ink that enhances protection against counterfeiting for packaging, documents, and currency, with optically variable features.
List of Key Players Mentioned in the Report:
- Glesecke+Devrient (Germany)
- Security Paper Limited (Pakistan)
- Crane & Co., Inc. (U.S.)
- Louisenthal (Germany)
- Simpson Security Papers (U.S.)
- KOMSCO (South Korea)
- A1 Security Print Ltd. (U.K.)
- Sustana (U.S.)
- Ciotola S.R.L (Italy)
- Drewsen Spezialpapiere GmbH & Co. KG (Germany)
- Goznak (Russia)
- The Fábrica Nacional de Moneda y Timbre (Spain)
- VHP (Netherlands)
- Domtar Corporation (U.S.)
- Ceprohart SA (Romania)