Pune, India -- (SBWIRE) -- 03/29/2018 -- Market Highlights
The security paper market is witnessing growth due to high circulation of money and the need for anti-counterfeit technologies. Moreover, an increase in the circulation of fake notes, visas, and passports has driven the need for security papers. Security paper helps prevent counterfeiting and fraud of documents because the hologram-like image embedded into the document is visible to the eye and can't be reproduced on a copy. It is mainly used for the printing of banknotes. Moreover, innovation in features & technology advancements and demonetization of currency notes act as major opportunities for the market.
The market is highly driven by the increasing awareness and the demand for security papers. Growth in digitization and government efforts to drive for online transactions are restraining the growth of the market. The global security paper market is expected to grow to USD 16.47 Billion by 2023 at a CAGR of 6.02% in the forecast period.
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Market Research Analysis:
The global market of security paper is growing rapidly. It is expected that the global security paper market will advance with higher growth rate as compared to previous years due to increase awareness among the people. However, growth in digitization as well as changing consumer behaviour acts as a major restraint for the market.
The major players operating in the security paper market are China Banknote Printing and Minting Corporation (Beijing), Ciotola S.R.L.(Italy), Document Security Systems, Inc.(U.S.), EPL House for Security Printing (Libya), Security Paper Limited (Pakistan), Sequana Group (France), De la Rue plc (U.K.), Giesecke & Devrient (Germany), Fedrigoni Group (Italy) and Goznak (Russia)
Segmentation of Global Security Paper Market:
By Security Feature
- Hybrid Papers
- Banknotes, Legal & Government Documents
- Identity Cards
Regional Analysis of Global Security Paper Market:
Europe dominated the global security paper market, followed by North America & Asia-Pacific. Security paper market is widely built across all major countries of Europe, such as Germany, Spain, the U.K., Russia, Italy, and France.
The market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Factors such as extensive use of banknotes and the growth of tourism in India act as major factors for the growth of the security paper market in the region.
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Scope of the report
This study provides an overview of the global security paper market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global security paper market as Security Feature and application. On the basis of Security Feature it is segmented as Hybrid Papers, Watermarks, Holograms, and Threads. On the basis of application it is segmented as Banknotes, Legal & Government Documents, Certificates, Identity cards, Passport, Checks, and Stamps .
The report for Global Security Paper Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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