“Security Paper market is valued at $12.4mn in 2019” says new Visiongain report
29 May 2019
Visiongain has launched a new packaging report Security Paper Market Report 2019-2029: Forecasts by Component (Substrates, Watermarks, Threads and Holograms), by Application (Bank Notes, Passports, Identity Cards, Certificates, Legal and Government Documents, Cheques and Stamps) Plus Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global security paper market is estimated to be valued at US$12.4 m in 2019 and is expected to record fairly healthy growth rate over the next ten years. The significant growth factor which contributes to the growth of this market is the rise in the cases of fraud. In order to overcome these fraud attacks, the government and the other organisations such as the passport office, banks, and others have made their paperwork and documents more secure by adding suitable clauses. This has positively affected the growth of the market. The other factors that are contributing to the growth of the security paper market are the rise in the disposable incomes, increase in foreign tours which have increased the demand for the official documents such as passports and visas. The consumers are becoming highly aware of the frauds that are occurring and are thus finding out ways to find solutions. The factor that is limiting the growth of the security paper market is the increase in the online transactions, coupled with the rise in digitisation.
The Visiongain report analyst commented "The rise in demand for security paper across several applications such as bank notes and cheques, passports, identity cards, certificates, legal and government documents, and stamps is set to drive the demand of security across the globe. Further, this growth is complemented by an increase in counterfeiting activities and piracy of various products. Also, forging activities of passports, certificates and identity cards have been on the rise in past years."
Leading companies featured in the report who are offering security paper solutions and services include China Banknote Printing and Minting Corporation, De La Rue PLC, Document Security Systems, Drewsen Spezialpapiere GmbH & Co. Kg, Fedrigoni Group, Giesecke+Devrient, Goznak, Real Casa De La Moneda, Security Paper Limited and Security Printing and Minting Corporation of India Limited.
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