PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397112
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397112
Security Paper Market size was valued at USD 15,150.5 Million in 2022, expanding at a CAGR of 4.5% from 2023 to 2030.
The security paper is used for several documents, including passports, identity cards, banknotes, checks, and certificates. These security documents' primary purpose is to shield documents from high-tech counterfeiting, chemical manipulation, and paste forgeries.
The e-commerce industry's increasing demand for safe packaging creates a substantial potential for the worldwide security paper market. The exponential expansion of online transactions has made tamper-evident and secure packaging solutions increasingly crucial. Due to its adaptability in implementing authentication measures, security paper is becoming a more significant choice for packing expensive and sensitive objects for transit. The surge in theft, counterfeiting, and tampering occurrences in the e-commerce supply chain has made advanced security measures more necessary. Security paper offers a practical means of preventing goods from being tampered with or accessed without authorization thanks to its flexible security features. Security paper producers now have the opportunity to collaborate with packaging suppliers and e-commerce companies to develop unique solutions that enhance package security. As e-commerce expands internationally, the market for security paper has an opportunity to take advantage of the rising need for safe packaging and position itself as a major player in preserving the integrity of goods throughout delivery and transit.
The Global Security Paper Market is segmented based on Type, Application, and Region.
Based on the type, the market is bifurcated into Hologram, Watermark, Hybrid Paper, Thread & UV Fiber and Others. The hybrid paper segment captures a significant market share during the forecast period. Hybrid paper frequently combines digital technology with conventional physical security measures like holograms, security threads, and watermarks. This combination uses both digital and physical authentication techniques to improve the overall security of documents. Thereby, driving the segment expansion.
Based on the application, the industry is segmented into Certificate, Identity Card, Passport & Visa, Legal & Government Documents, Currency Notes/Bank Notes, Bank Documents, Transportation & Logistics, Medical Report & Prescription and Others. The Currency Notes/Bank Notes segment is expected to dominate the market during the forecast period due to the ongoing production, distribution, and reprinting of banknotes as well as the increase in the quantity of counterfeit note cases.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to dominate the market during the forecast period. The Asia-Pacific security paper market is expanding because of the growing tourism sector, economic stability, rising incomes, and infrastructure. Other factors contributing to this growth include the high demand for security features like watermarks and holograms embedded in banknotes, passports, and stamps. Additionally, the region's market is expanding due to the growing demand for banknotes brought on by population expansion and the cash-based economies of some nations, such as Indonesia and India. The region's high need for security documents has been attributed to rising costs for legal services including licensing, litigation, and paperwork.
The key players operating in the global security paper market are EPL House, FNMT RCM, Giesecke+Devrient Currency Technology GmbH, HG Technology Sdn Bhd, Fedrigoni Group, Infinity Security Papers Limited, Pura Group, Ceprohart SA, Drewsen Specialty Papers GmbH & Co. KG, Simpson Security Papers, Domtar Corporation, Gemini Graphics Pvt. Ltd., A1 Security Print Ltd, Papierfabrik Louisenthal GmbH and Ciotola SRL among others. These players adopted various strategies to remain competitive in the market which includes partnership, product launch, investment and others.
In November 2022, the Kailash Group of Companies subsidiary Genus Paper & Boards revealed ambitions to expand and change its operations, turning it into a one-stop shop for all packaging grades. By acquiring NS Papers, the firm will be able to expand both its market reach and range of products.