The report "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", The security paper market is estimated to grow to USD 16.37 Billion by 2021, at a CAGR of 6.0% from 2016.
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The security paper market is projected to witness significant growth in the next few years, owing to the increasing need for protection against counterfeiters and printing, reprinting, and continuous circulation of banknotes. The increase in disposable incomes has made overseas tours more affordable, which has led to higher demand for visas and passports, thus driving the demand for security paper.
Hybrid papers to gain maximum traction during the forecast period
The hybrid papers segment dominated the market in 2015 and is projected to be the fastest-growing segment in the next five years. As it has built-in security features such as security threads, watermarks, and UV fibers, it effectively provides contributes to combating counterfeiting. With the increase in fake notes, visas, and passports, the market for anti-counterfeiting technologies is thus driving growth of hybrid paper in the emerging economies of Asia-Pacific, the Middle East, and Latin America.
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Banknotes to continue being the largest segment during the forecast period
The banknotes segment dominated the market in 2015 and is projected to be fastest-growing in application sector in the next five years. As banknotes form a significant base for circulation of currency in any country, the demand for banknote printing is higher than any other security document.
The European region constitutes the largest market share in the security paper market
Europe contributes largely to the global security paper market. However, the European market is projected to grow at a comparatively lower rate than other regions, due to sub-normal performance, economically. Asia-Pacific is projected to register the highest growth from 2016 to 2021, while India is projected to be fastest-growing country-level market in the region for the security paper market. The Latin American region is projected to grow at the second-highest CAGR, with Brazil registering the highest growth rate in the region. Countries such as Argentina, Canada, Russia, and countries in the Middle East are projected to grow at moderate CAGRs between 2016 and 2021.
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The major players in the security paper market include Giesecke & Devrient (Germany), Sequana Group (France), Security papers Limited (Pakistan), Fedrigoni Group (Italy), and Da La Rue plc (U.K.).
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