27-Nov-2019: The global security paper
market size is expected to reach USD 24.33 billion by
2025, according to a new study conducted by Grand View Research, Inc. It is
anticipated to expand at a CAGR of 7.0% over the forecast period. Growing
demand for anti-counterfeit technologies in applications such as currency
printing and printing bank checks is expected to be the key growth driver.
Security paper protects critical document against alteration and forgery by
using multiple security technologies such as watermark, hologram, and
Ultraviolet (UV) fiber and threads.
Over the last few
years, the rapid proliferation of advanced printing technologies has led to an
increase in the circulation of fake notes, passports, visas, and certificates,
among others. There has also been a significant increase in the number of fraud
cases reported worldwide. In order to overcome these issues, the security paper
manufacturing industry is focusing on the development and application of
advanced security features such as hologram and magnetic microwires. These
security features are anticipated to offer improved document security to
prevent counterfeiting in comparison to that of the traditional methods
mentioned above.
Currency notes and
bank documents are the major applications of security paper. Printing of
currency notes is a continuous process to ensure effective circulation in the
economy. However, emergence of blockchain technology and growing digitalization
is restraining the growth of the security paper market as more business and consumers
are shifting towards online payment options due to enhanced convenience and
security.
Asia Pacific (APAC)
is expected to drive the demand for security papers over the forecast period
owing to various government initiatives and regulations and rapid expansion of
BFSI infrastructure. Recent demonetization and Unique Identification numbers
(UID) initiative by the Government of India (GoI) is expected to propel the
demand. The Pradhan Mantri Jan Dhan Yojana, a financial inclusion program by
the GoI, which aims to provide affordable access to financial services to rural
population is also expected to be the major growth driver for the product
adoption in the regional BFSI sector.
In
depth research report on Security Paper Market
Further key findings from the report suggest:
·
Government initiatives such as China’s Plan for Advancing the
Development of Financial Inclusion (2016-2020), Government of India’s “Pradhan
Mantri Jan Dhan Yojana” and Unique Identification Number (UID) initiative have
a positive influence on the adoption of security paper in APAC
·
Hybrid paper is anticipated to emerge as the fastest growing
segment over the forecast period owing to the increased adoption of the product
for government application in North America and Europe
·
Currency notes application segment is anticipated to lead the
security paper market over the forecast period due to government initiatives
such as demonetization (India) and re-printing of currency notes
·
The key market players include Security Paper Mill, Inc.;
China Banknote Printing and Minting Corporation; Document Security Systems,
Inc.; Ciotola S.R.L.; Security Paper Limited; Sequana Group; Giesecke & Devrient;
Fedrigoni Group; Goznak; and Security Printing and Minting Corporation of India
Limited (SPMCIL)
Grand View Research
has segmented the global security paper market based on type, application, and
region:
Security Paper Type Outlook (Revenue, USD Million, 2014 -
2025)
·
Hybrid Paper
·
Watermark
·
Hologram
·
Thread & UV Fiber
·
Others
Security Paper Application Outlook (Revenue, USD Million,
2014 - 2025)
·
Currency Notes/Bank Notes
·
Passport & Visa
·
Identity Card
·
Legal & Government
·
Certificate
·
Bank Documents
·
Medical Report & Prescription
·
Transportation & Logistics
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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