Fast Market Research announces the availability of the new Markets and Markets report, "Security Paper Market - Global Forecast to 2021", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 06/09/2017 -- Security Paper Market by Security Feature (Hybrid Papers, Watermarks, Holograms, and Threads), Application (Banknotes, Legal & Government Documents, Certificates, Identity cards, Passport, Checks, and Stamps), and Region - Global Forecast to 2021
"Security paper market projected to grow at a CAGR of 6.0%"
The security paper market size is projected to grow at a CAGR of 6.0% during the forecast period (2016-2021) and reach USD 16.37 billion by 2021. The security paper market is witnessing growth due to the large circulation of money and need for anti-counterfeit technologies. Moreover, an increase in the circulation of fake notes, visas, and passports has been witnessed. Thus, security paper helps to prevent counterfeiting. Security paper is mainly used for the printing of banknotes. Moreover, reprinting of banknotes is a continuous process to ensure proper circulation of physical currency. Growing digitalization is restraining the growth of the security paper market as more people are going for online payment options, online printing of ID cards, and even soft copies of visas.
Get More Details on this Report and a Full Table of Contents at Security Paper Market - Global Forecast to 2021
"In terms of application, banknotes held a considerably larger market share in the security paper market"
The banknote application segment is estimated to dominate the security paper market and is projected to be the fastest-growing segment during the forecast period. Banknotes form an important part of the economy for every country, which is a factor that the high CAGR can be attributed to. Security papers are also used in passports and visas, where features such as watermarks are used for their authentication.
"Hybrid papers to gain maximum traction during the forecast period"
The hybrid papers account for a major portion in the security paper market. The hybrid papers segment is projected to be the fastest-growing segment in the next five years. It has many features such as watermarks, inks and threads embedded in them. The need for safeguarding security documents from anti-counterfeiting technologies is thus driving growth of hybrid paper in the emerging economies of Asia-Pacific, the Middle East, and Latin America.
"Asia-Pacific region is expected to witness a steady growth during the forecast period"
In 2015, Europe accounted for a larger market share of the total security paper market, in terms of value, followed by North America and Asia-Pacific. The market in Asia-Pacific is projected to grow at the highest CAGR during the period between 2016 and 2021. This is mainly due to the extensive use of banknotes and the growing tourism in India. Countries in Asia-Pacific such as India and China have higher usage of banknotes due to high population. Demonetization has increased the demand for banknote printing in India. Also, the demand for passport and visa printing is high in these countries due to higher migration to developed countries for jobs and higher studies.
Breakdown of Primaries
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of the pervious pavement market. Estimates reached after analyzing secondary sources were validated through these interviews. Primary sources included professionals such as constructors, concrete suppliers, pervious module manufacturers, distributors, consultants, and academic professionals. The distribution of primary interviews is as follows:
By Company Type: Tier 1 -50%, Tier 2 - 33%, Tier 3 - 17%
By Designation: Director Level - 67% and Manager Level - 33%,
By Region: North America - 8%, Europe - 17%, Asia-Pacific - 50%, MEA - 50%, RoW - 25%
Note: The tier of the companies is defined on the basis of their total revenue, as of 2015.
Tier 1: Revenue >USD 10 billion; Tier 2: USD 1 billion< Revenue< USD 10 billion; Tier 3: Revenue< USD 1 billion
The various key players profiled in the report are as follows:
1. GIESECKE & DEVRIENT (Germany)
2. Sequana Group (France)
3. Security Papers Limited (Pakistan)
4. Fedrigoni Group (Italy)
5. De la Rue plc (U.K.)
6. Goznak (Russia)
7. China Banknote Printing and Minting Corporation (China)
8. Real Casa De La Moneda (Spain)
9. Drewsen spezialpapiere (Germany)
10. SECURITY PRINTING AND MINTING CORPORATION OF INDIA LIMITED (India)
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