Security Paper Market Size Forecast: What to Expect in 2024 and Beyond

SHERIDAN, WYOMING, UNITED STATES, November 14, 2023 /EINPresswire.com/ -- According to the report by Expert Market Research (EMR), the global security paper market size was nearly USD 18.93 billion in 2023. Aided by growing need to fight counterfeit banknotes and the use of advanced security technologies and printing practices, the market is projected to further grow at a CAGR of 7.10% between 2024 and 2032.

Security paper, a specialised type of paper, is primarily infused with specific features or components to ascertain its authenticity, making it resistant to forgery, duplication, and any illicit modifications. This paper is quintessential for producing banknotes, legal tenders, passports, certificates, identity cards, stamps, and various other documents that necessitate high levels of security and authentication.

One of the pivotal catalysts propelling the security paper market growth is the surging need for secure and tamper-proof documentation in governmental and financial sectors. As digital advances broaden the scope for forgery, the demand for physical documents, furnished with security features that are complex to replicate, has risen significantly. This trend is particularly growing in the issuance of high-security documents such as passports, visas, and banknotes.

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One of the significant security paper market trends is the shift towards incorporating cutting-edge technologies and innovative features to elevate the security levels of these papers. These range from watermarking, holography, and fluorescent fibres to security threads and microprinting. Such enhancements not only bolster the document's security but also facilitate its authentication by relevant authorities.

The financial sector, especially central banks, considerably influences the security paper market demand. Central banks worldwide continuously endeavour to release banknotes equipped with avant-garde security attributes, ensuring they remain a step ahead of counterfeiters. With banknotes being a symbol of a nation's sovereignty and economic stability, their security becomes important, thereby amplifying the need for advanced security paper solutions.

An in-depth security paper market analysis also highlights the burgeoning demand in the academic and corporate sectors. With the amplification in instances of fake degrees and counterfeit certificates, educational institutions and corporations are increasingly seeking sophisticated security papers to issue certifications, diplomas, and other crucial documents. Such endeavours ensure that the credentials remain unique, genuine, and irreplicable.

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Geographically, regions such as North America and Europe continue to dominate the global market. Their supremacy can be ascribed to well-established governmental and financial infrastructures, a robust emphasis on security, and consistent investments in research and innovation pertaining to security solutions.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type

Hybrid Paper
Watermark
Hologram
Thread and UV Fibre
Others

Market Breakup by Application

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

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global security paper market. Some of the major players explored in the report by Expert Market Research are as follows:

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

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Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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Expert Market Research
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