The global security paper market is anticipated to flourish at a CAGR of 7.4% over the forecast period. Further, the global security paper market is anticipated to reach USD 18.97 Billion by the end of 2024.
Security paper or anti counterfeit paper refer to a type of paper which can distinguish a document as original. These papers are inhibited with security features such as holograms, UV printing, watermarks and threads.
These types of paper are used in banknotes, legal documents, passports, identity cards, stamps, certificates and others. Security papers are used to reduce and curb the piracy and fraudulence practices.
Further, it incorporates some security standards which are used to identify original product. The market share of security paper is rising due to the increased adoption of security paper among the consumers as they offer various security features.
For instance, hybrid papers have multiple security features such as watermarks, threads, UV fibers or UV printing. These high security features used to restrain the forgery activities which have led to the higher demand of security papers across the globe.
Market Size and Forecast
Riding on the back of the need to curb the forgery and counterfeit practices, the global security paper market is expected to witness a significant growth over the forecast period.
Asia-Pacific captures the largest market share of security printing in terms of demand. Factors such as rising disposable income and increasing awareness about fraudulence of the product in the developing countries of Asia Pacific such as China, India and others are expected to bolster the demand for security printing.
Further, Asia Pacific is expected to continue its dominance over the forecast period 2017-2024. Moreover, India is anticipated to have a fastest growth rate in the Asia-Pacific region.
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North America is anticipated to witness the robust growth of security printing market owing to rising consumer awareness in the region. Further, Latin-America is projected to showcase a significant growth over the forecast period.
Moreover, Brazil is likely to account for highest CAGR in the Latin-America region.
Europe region consumed around 27% of total global security paper market in 2016. However, the European market is escalated to grow at a modest growth rate owing to its average economic performance.
Further, Middle East region is also expected to be one of the fastest growing markets during the forecast period.
Our-in depth analysis of the global security paper market includes the following segments:
By Paper Type:
Banknotes and Checks
Legal & government documents.
Growth Drivers and Challenges
The growing demand for security papers across the globe is driven by increasing counterfeiting activities and piracy of the products. Further, forging activities of passports, certificates, identity cards have been on a rise in recent past years.
These rising counterfeiting activities are likely to grow the demand for security paper over the forecast period. Moreover, increasing fraudulence related to banking services such as bank checks and fake currency notes is believed to be the dynamic factor behind the growth of security paper in bank sectors.
Further, strict government regulation regarding the use of security papers to prevent fraud is also envisioned to bolster the global security paper market. Besides this, rising concern regarding the brand protection is anticipated to be one of the growth drivers of global security paper market.
Moreover, piracy of premium products incurs huge losses to the company. Further, in order to tackle the piracy of products, companies are adopting security papers.
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However, rising digitization trend is anticipated to restrain the growth of global security paper market. Increasing online banking activities is believed to dampen the growth of global security paper market.
This report also provides the existing competitive scenario of some of the key players of the global security paper market which includes company profiling of Sun Chemical Corporation, 3M, TROY GROUP, INC., Cadena, Gemalto, Giesecke & Devrient, Luminescence International Ltd, Madras Security Printers Private Ltd, Oriental Security Printing Solutions and TraceTag International. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global security paper market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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