As per the report published by Fior Markets ,the global security paper market is expected to grow from USD 11.23 Billion in 2017 to USD 17.76 Billion by 2025, at a CAGR of 5.90% during the forecast period from 2018-2025. Asia Pacific region emerged as the leader in the global security paper market with a 39.24% share of revenue in 2017.
“Security Paper Market by Security Feature (Substrates, Watermarks, Threads, Holograms, Others), Application, Regions”,and Global Forecast 2018-2025.
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Major players in the global security papermarket areGiesecke+Devrient, De La Rue plc, Fedrigoni Group, Security Printing and Minting Corporation of India Limited, Real Casa de la Moneda, Security Paper Limited, Goznak, China Banknote Printing and Minting Corporation, Drewsen Spezialpapiere GmbH & Co. KG, Document Security Systems, Ciotola S.R.L., EPL House for Security Printing, Sequana Group, Louisenthal, Landqart, and among others. It is of utmost importance to secure an assured supply of security paper for the purpose of printing the banknotes. For instance, Swiss National Bank (SNB) in 2017, announced that it has acquired the Landqart AG, a security paper manufacturer for about USD 21.7 million. This acquisition is aimed at to guarantee the smooth roll-out of its new banknote series.
Security features segment is divided into substrates watermarks threads, holograms, and others. A majority of the security papers are constructed with at least three layers of substrate material, which helps in providing with numerous opportunities to incorporate additional security features. The substrate segment emerged as the largest segment in the security paper market with a 37.62% share revenue in 2017. Owing to growth in the utilization of watermark feature in the making of postage stamps, currency, and other security documents, the watermark segment is projected to grow at an accelerated CAGR of 8.03% over the forecast period. Application is segmented into banknotes, passports, identity cards, cheques, government & legal documents, certificates, stamps, and others. Majority of the banknotes are made from the security paper that is manufactured from the materials such as cotton-fiber, polymer or hybrid papers. There is an unabated demand for the security paper for the purpose of printing the banknotes as well as to check the rise in a number of cases of counterfeit notes. Thus on account of these factors, the banknotes segment emerged as the global leader in the security paper market with a 48.83% share of revenue in 2017. As the growth of the tourism industry is generating an increased demand for the passports and visas. The passports segment is also projected to progress at a steady pace over the forecast period.
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Factors such as growth in tourism leading to increasing demand for passports and visas as well as rising awareness among people regarding forgery and counterfeiting are driving the global security paper market. Whereas the increase in digitization of documents is projected to prove to be a major restraining factor for the market growth.
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