Global Security Paper Market Report and Forecast 2024-2032

Global Security Paper Market Outlook

The global security paper market attained a value of USD 20.27 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of more than 7.1%.

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Increasing Demand for Security Paper for Currency and Banknotes Aiding the Market Growth

The rising need to fight counterfeit banknotes is leading to the increased adoption of security paper to print currency and banknotes. The watermarks, holograms, and security threads or fibres are commonly used as features to keep the currency safe. The watermark is primarily used in banknotes as the public can easily recognise it and offers protection against scanners, chemical, mechanical, and reproduction attempts. Also, security fibres are used in addition to a watermark to provide protection against colour photocopying. For instance, the Reserve Bank of India offers currencies with identifiable security features like watermarks and security threads to distinguish them from forged banknotes. The rising cases of counterfeit notes and the need for continuous printing and circulation of currencies to sustain the economy are providing impetus to the security paper market growth. The use of advanced security technologies and printing practices in the production of banknotes are likely to aid the market over the forecast period.

Market Segmentation

Security paper or anti-counterfeit paper is a type of paper that helps identify an original document. It comprises of safety features like hologram, UV, watermarks as well as thread. The paper type is used in stamps, banknotes, passports, legal documents, identity cards, and certificates, among others. Security papers are mainly used to minimise and curb piracy and fraud. They also contain other safety standards used to define the original product.

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The major security paper types can be divided into:

• Hybrid Paper
• Watermark
• Hologram
• Thread and UV Fibre
• Others

The security paper market can be broadly categorised based on its applications into:

• Bank Notes 
• Passports 
• Identity Cards 
• Certificates 
• Legal and Government Documents 
• Cheques 
• Stamps 
• Others

The EMR report looks into the regional markets for security paper like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

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Growing Need for Protection Against Frauds to Drive the Market Growth of Security Paper

The demand for security paper is expected to grow rapidly in the forecast period of 2024-2032. A growing number of frauds is responsible for the increasing demand for security paper. To resolve fraud, the government, as well as other organisations, including banks and passenger agencies, protect their documents using special paper. Additionally, the rise in affordable international tours has resulted in the increased demand for visas and passports, which is also one of the major factors contributing to the growth of the security paper market. The increasing awareness of fraud among the population and the increasing need for counterfeit protection are positively impacting the market growth.

Hybrid paper is the leading type of security paper in the market, whereas the application sector is dominated by the banknotes segment. Hybrid sheets have multiple security features like watermarks, threads, UV fibres or UV printing. Such high security features are used to limit falsifying practices that have resulted in the higher demand for security paper worldwide.

The major factors driving the security paper market growth include technological developments like the development of hybrid paper. Key players are working to innovate highly secure mechanisms and are concentrating on using them in their product portfolio. However, the growing digitisation and the rapid advancements in blockchain technology are expected to adversely impact the market, given the increased security and convenience of digital and online payment options.

Key Players in the Global Market for Security Paper

The report gives a detailed analysis of the following key players in the global security paper market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Security Paper Mill, Inc.
• Ciotola s.r.l.
• De La Rue plc
• Fedrigoni S.P.A.
• Security Papers Limited
• Giesecke+Devrient GmbH
• Security Printing & Minting Corporation of India Ltd.
• Goznak
• China Banknote Printing and Minting Corporation
• FNMT-RCM
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report