Security Paper Market Size to grow by USD 8.4 billion between 2024-2028
According to a research report “ Security Paper Market” by Product (Currency note, Passport, Others) Type (Hybrid paper, Watermark, Hologram, Thread and UV fiber) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 8.4 billion, at a CAGR of 7.36% during the forecast period. In the global payment landscape, despite the increasing prevalence of digital payment systems, cash transactions continue to hold a significant market share, accounting for over 60% of all transactions. This trend is particularly evident in retail payments, especially in developing countries. For instance, in 2022, consumers made USD50 billion and USD95 billion worth of point-of-sale (POS) transactions and online purchases, respectively, using credit cards. Given the high volume of cash transactions, the demand for banknotes remains robust. Consequently, the expanding banknote market is projected to boost the demand for currency security paper, which is manufactured using a combination of materials, such as cotton and linen, to ensure the authenticity and durability of banknotes..
Browse market data tables, figures, and in-depth TOC on “Security Paper Market” by Product (Currency note, Passport, Others) Type (Hybrid paper, Watermark, Hologram, Thread and UV fiber) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Product, the Currency note segment is projected to dominate the market size in 2024
The banking sector has experienced significant growth since 2010, with North America leading the charge, driven by substantial contributions from the US and Canada. The APAC and Latin American markets have remained stable, even during economic downturns. The burgeoning economies in Southeast Asian countries, including Singapore, Taiwan, Thailand, and Vietnam, are fueling the expansion of the banking sector in APAC. Furthermore, the global ATM services market has witnessed robust growth, with over 3.2 million units installed worldwide in 2023. The primary reason for this growth is the provision of value-added services such as balance inquiries and checkbook requests through ATMs, beyond just cash withdrawals.
By Type, Hybrid paper segment is expected to hold the largest market size for the year 2024
The demand for hybrid paper, a innovative security solution that integrates conventional paper with advanced security features, has experienced significant growth in the global security paper market. This trend is driven by the increasing importance of document security in various sectors such as government, banking, and healthcare. Hybrid paper's unique attributes, including holographic components, UV-visible fibers, and chemically tamper-evident coatings, make it an ideal choice for producing high-security papers, such as currency, passports, and identification cards. These features enhance protection against forgery and counterfeiting, making hybrid paper a valuable investment for organizations prioritizing document security.
APAC is forecasted to hold the largest market size by region in 2024
The Security Paper market is experiencing significant growth due to the increasing demand for secure documents and data protection. Companies are investing heavily in this sector to mitigate risks and ensure the confidentiality of their information. Security papers offer superior security features such as watermarking, microprinting, and holograms, making them an essential component in industries like finance, government, and healthcare. As businesses prioritize data security, the market for security papers is poised for continued expansion.
The Security Paper Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Security Paper Market encompasses the production and supply of banknotes and other secure documents, including currency, passports, and visas. This industry plays a crucial role in combating document-related fraud, such as counterfeiting of banknotes and forgery of important documents. Printing currency involves the use of advanced security features, such as Thread, Watermark, Holograms, and Hybrid security papers. These features include Polymer substrate and Cotton fiber paper, which are difficult to replicate, making it challenging for counterfeiters to produce authentic-looking documents. Document-related fraud, including alteration and forgery, can lead to significant financial losses and damage to reputations. To combat this, original documents are equipped with various security features, such as watermarks, holograms, and microprinting. The increasing trend towards digitization has led to a shift away from cash-based payments, but the demand for secure documents remains high, particularly in regions with large population bases and underdeveloped infrastructure. Infrastructure modernization and the development of new security technologies, such as hybrid security papers and advanced holograms, continue to drive growth in the Security Paper Market.
Market Research Overview
The Security Paper Market encompasses a wide range of products, including watermarked, visas, and safety papers, used for various document applications such as passports, identity cards, legal documents, and certificates. Security features integrated into these papers include UV fibers, thread, technological developments like holograms, micro print elements, metallic and magnetic microwires, and fluorescent elements. Companies like Veridos and Louisenthal are leading players in this market, focusing on product development plans and the printing stage of currency and other security papers. Natural materials like cotton fiber paper and polymers, used in the polymer substrate, are essential components of security papers. Infrastructure modernization in emerging economies with large population bases presents significant business opportunities in the security papers market. However, the threat of document-related fraud, forgery, and counterfeiting remains a challenge. Technological developments, such as digitization, data security applications, and blockchain technology, are shaping the future of the security papers market. These advancements offer potential solutions to data leaks and cash-based economy transactions. Cylinder mold technology allows for customized papers and currency notes, while the counterfeiting of documents and currency remains a concern. Overall, the security papers market continues to evolve, driven by the need for advanced security features and the ongoing fight against fraud and counterfeiting.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
