Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Security Paper market.
Trusted Business Insights presents an updated and comprehensive analysis of Security Paper Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Security Paper market during the forecast period (2021-2026).Our research analyst have analysed at the short-term stress in the industries subsectors as well as long-term impacts. Analyst have also examined the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Global Security Paper Market
The global Security Paper market size is projected to reach US$ 26.22 billion by 2026, from US$ 17.47 billion in 2020, at a CAGR of 7% during 2021-2026. A security paper is used to validate an original document. It is one of the most preferred methods for detecting alteration, counterfeiting, forgery, and other forms of document-related frauds. Its wide use for printing currency, legal, and government documents is anticipated to drive the market.
Counterfeiting of documents and bank/currency notes leads to major losses to governments, companies, and individuals. Rapidly rising demand for anti-counterfeit technologies in applications such as bank checks and currency printing is expected to drive the product demand.
Many major manufacturers of currency notes papers are now focusing on exploring new business opportunities and expanding their product portfolio to meet the emerging requirement of corporate, education, and healthcare sectors. These companies are aggressively working on developing emerging technologies such as magnetic microwires and hologram as part of their product development plan.
Increased adoption of security papers has enabled companies, individuals, and regulatory agencies to effectively restrict misuse of essential documents. The manufacturers also assist companies in developing customized papers with multiple features and types such as holograms, watermark, thread, and UV fibers, among others.
The security paper used for banking applications is required to comply with the global Clearing Bank Standard (CBS). The CBS standard is a set of paper specifications defined by banks to ensure that the printed forms can be processed through automatic document feeders. According to the U.S. governments Intelligence Reform and Terrorism Prevention Act of 2004, all the states are required to print birth certificates on safety papers to prevent counterfeiting, duplication, and tampering of the document.
Technological developments such as hybrid paper have emerged to be the major growth drivers for the market. The key manufacturers are working towards the development of highly secured technologies and are focusing on including them as part of their product offering. However, the rapidly increasing digitalization and emergence of blockchain technology is anticipated to have a negative impact on the market as various businesses and individuals are shifting towards digital and online payment options due to enhanced security and convenience.
Market Segmentation, Outlook & Viewpoint: Global Security Paper Market
Type Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
- Hybrid Paper
- Thread & UV Fiber
Application Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
- Currency Notes/Bank Notes
- Passport & Visa
- Identity Card
- Legal & Government Documents
- Bank Documents
- Medical Report & Prescription
- Transportation & Logistics
Key Players, Recent Developments & Regional Insights: Global Security Paper Market
Based on application, the market has been segmented into currency notes, passport and visa, identity cards, legal and government, certificate, bank documents, medical report and prescription, transportation and logistics, and others. The currency notes segment leads the market owing to the constant printing, circulation, and reprinting of banknotes, coupled with the rise in a number of cases of counterfeit notes.
The legal and government documents segment is expected to witness the highest CAGR over the forecast period owing to the multiple government initiatives such as the Government of Indias Pradhan Mantri Jan Dhan Yojana and Unique Identification Number (UID) initiative. Chinas Plan for Advancing the Development of Financial Inclusion (2016-2020) is also projected to have a major impact on market growth in Asia Pacific. Majority of R&D institutes and companies have a robust data security applications to protect digital data. However, companies are finding it difficult to prevent data leaks through conventional paper based files.
Printing of currency notes is a continuous process to ensure effective circulation in the economy. However, the rapidly increasing digitalization and emergence of blockchain technology is anticipated to have a negative impact on the growth as various business and individuals are shifting towards digital and online payment options due to enhanced security and convenience.
Currently, Asia Pacific leads the market owing to the growing population, high preference for cash transactions, and various government initiatives aimed at rapid expansion of the BFSI infrastructure. Moreover, Asia Pacific is witnessing higher migration of individuals to foreign countries for jobs and higher studies. Hence, the demand for security paper for passport and visa application is anticipated to witness significant growth over the forecast period.
Due to increased digitization in government and private sectors and higher penetration of plastic money, North America and Europe regions are anticipated to be a less attractive markets over the forecast period. Sweden is well placed to become the worlds first cashless country by completely shifting to digital currency. High demand for security papers is attributed to the increased spending on legal services such as documentation, litigation, and licensing.
Security Paper Market Share Insights
The key players operating in the market include Security Paper Mill, Inc.; China Banknote Printing and Minting Corporation; Document Security Systems, Inc.; Ciotola S.R.L.; Security Paper Limited; Sequana; Giesecke+Devrient GmbH; Fedrigoni Group; Goznak; and Security Printing and Minting Corporation of India Limited (SPMCIL), among others. Companies are majorly focusing on strategic initiatives such as joint venture, partnership, contract, acquisition, and expansion to enhance their market presence.
Major market players are making substantial investments in R&D projects and are setting up the required production infrastructure for implementing advanced technologies such as magnetic microwires and hologram. China Banknote Printing and Minting Corporation closely works with the People’s Bank of China, which has established its own research division for development of printing technology. The division is focused on developing new technologies for banknotes.
Key Insights Covered: Global Security Paper Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Security Paper industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Security Paper industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Security Paper industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Security Paper industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Security Paper industry.
Research Methodology: Global Security Paper Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
Quick Read Table of Contents of this Report @ Security Paper Market Size, Share, Growth, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)
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