Global Security Paper Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Security Paper market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Security Paper Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Security Paper Market forecast.
The Security Paper Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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The global security paper market size is projected to reach USD 24.33 billion by 2025 and projected to grow with a CAGR of 7.0% during the forecast period from 2019 to 2025, according to Million Insights. The increasing need for anti-counterfeit technologies in printing currency and printing bank checks applications is anticipated to drive the market over the forecast period. Security papers help to protect essential documents from forgery and alteration by using various technologies such as hologram, threads & Ultraviolet (UV) fiber and watermark.
In recent years, the emergence of advanced printing technologies has increased the circulation of passports, certificates, visas and fake notes. Thus, to overcome these issues, industry players are focusing on developing new advanced security features like magnetic microwires and hologram. These advanced features are expected to enhance document security to reduce the chances of counterfeiting as compare to the conventional method.
The major applications of security paper are bank documents and currency notes. Currency notes printing is a major process to ensure better circulation of the economy. However, the shift towards digitalization and adoption of blockchain technology is expected to restraint market growth to some extent.
Asia Pacific is expected to hold the largest market share during the forecast period due to the growth of BFSI sector and the several government initiatives & regulations implemented across the globe. Recent Unique Identification numbers (UID) and demonetization intuitive by the Indian government are expected to propel the market growth in Asia Pacific. In addition, a financial inclusion program by the government of India which provides affordable access to financial services to rural areas is another major factor for boosting the security paper market growth in the next few years.
Some of the companies for Security Paper market are:
Ciotola S.R.L.; Security Paper Limited; Sequana Group; Security Paper Mill, Inc.; China Bank note Printing and Minting Corporation; Document Security Systems, Inc.; Giesecke & Devrient; Security Printing and Minting Corporation of India Limited (SPMCIL); Fedrigoni Group; and Goznak
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