보안용지 시장 : 세계 산업 규모, 점유율, 동향, 기회, 예측 - 유형별, 용도별, 지역별, 경쟁(2021-2031년)

The Global Security Paper Market is projected to expand from USD 19.81 billion in 2025 to USD 29.28 billion by 2031, registering a CAGR of 6.73%. This specialized substrate, fortified with protective features such as fluorescent fibers, watermarks, and embedded threads, is essential for the production of banknotes, passports, and official certificates. The market remains underpinned by the enduring need for physical currency within developing economies and the imperative for fraud-resistant documents to ensure national security. These functional necessities drive demand independently of broader technological shifts, establishing a fundamental requirement for physical authentication methods. For instance, the European Central Bank reported in 2024 that roughly 554,000 counterfeit euro banknotes were removed from circulation, highlighting the ongoing operational need for high-integrity security substrates to combat financial fraud.

However, the market faces a substantial obstacle in the form of the rapid global shift toward cashless societies and digital payment ecosystems. As financial institutions and governments increasingly champion electronic transactions and digital identification systems for their superior traceability and efficiency, the long-term volume requirements for paper-based documents and physical banknotes are likely to contract. This transition poses a threat to security paper manufacturers by limiting growth opportunities, as the structural reliance on physical mediums diminishes in favor of digital alternatives.

Market Driver

The enduring demand for high-security banknote circulation serves as a primary market driver, effectively counterbalancing the narrative of a cashless transition. Central banks continue to prioritize the availability of physical currency to guarantee economic stability, resulting in consistent orders for fraud-resistant, durable substrates. This resilience is quantitatively supported by data from the Federal Reserve Board in September 2025, which indicated that currency in circulation grew by 0.8 billion notes between June 2024 and June 2025, proving the continued expansion of the physical money supply. Consequently, manufacturers are securing significant contracts, as evidenced by Koenig & Bauer's 'Annual Report 2024' in March 2025, which noted a 14.1% year-on-year increase in their order backlog to €1.04 billion, reflecting strong industrial activity in the security printing sector.

Concurrently, the growth of the global tourism industry is fueling the production of visas and passports, thereby increasing the demand for high-security paper. As international travel intensifies, governments are upgrading travel documents with advanced substrates capable of supporting biometric features and embedded electronics to improve border control efficiency. This resurgence has resulted in record-breaking administrative outputs; the U.S. Department of State's January 2025 report, 'Setting Records in U.S. Passport and Visa Services', confirmed that approximately 24.5 million passport books and cards were issued in fiscal year 2024, marking a new annual high. Such substantial volume growth requires a reliable supply of specialized tamper-proof paper, directly reinforcing market demand.

Market Challenge

The rapid acceleration of digital payment ecosystems globally presents a significant barrier to the growth of the security paper market. With governments and financial institutions favoring electronic transactions due to their enhanced traceability and efficiency, the systemic dependence on physical currency is waning. This shift effectively reduces both the circulation volume and the replacement frequency of banknotes, which constitutes the primary revenue source for security paper manufacturers. As a result, the industry confronts a structural contraction in demand that proceeds regardless of the security features or functional quality of the substrates produced.

This decrease in physical currency usage is substantiated by data from major economies leading the shift toward cashless systems. According to UK Finance, the total volume of cash payments in the UK dropped to 6 billion transactions in 2023, reflecting a 7 percent decline compared to the prior year. This downward trajectory in banknote usage directly leads to fewer procurement orders for security paper mills. As digital adoption deepens across both developing and developed markets, manufacturers face the challenge of shrinking production volumes and the long-term risk of underutilizing their manufacturing capacity.

Market Trends

The adoption of hybrid paper-polymer composite substrates is becoming a prevalent trend, successfully bridging the divide between full polymer solutions and traditional cotton paper. This evolution in substrates meets the critical requirement for extended circulation durability while maintaining the ability to integrate sophisticated security features, such as watermarks and embedded threads, which are often difficult to implement in purely plastic alternatives. Central banks are increasingly selecting these composites to lower environmental impact and replacement frequency without compromising forensic security. For example, Giesecke+Devrient's July 2025 report, 'A greener banknote life cycle', noted that their Hybrid Green Banknote substrate cuts plastic usage by 86% compared to standard polymer banknotes while offering an equivalent lifespan, underscoring the efficiency benefits driving this shift.

In parallel, the development of sustainable and eco-friendly paper materials has emerged as a key priority for manufacturers aligning with global environmental mandates. This trend entails shifting toward organic renewable fibers, such as certified cotton and alternative crops, and adopting energy-efficient production methods to decarbonize the supply chain. Security paper mills are actively optimizing resource consumption to meet the net-zero commitments of issuing authorities, transforming sustainability into a competitive operational necessity. As highlighted in Louisenthal's January 2025 article, 'Q&A: Banknote Sustainability', the company's Green LongLife substrate now boasts a bio-based carbon content exceeding 85%, demonstrating the industry's ability to provide high-security materials that significantly reduce the ecological footprint of physical currency.

Key Market Players

• Giesecke+Devrient Currency Technology GmbH
• Fedrigoni Group
• Infinity Security Papers Limited
• Ceprohart SA
• Drewsen Specialty Papers GmbH & Co. KG
• Simpson Security Papers
• Domtar Corporation
• A1 Security Print Ltd
• Papierfabrik Louisenthal GmbH
• Ciotola SRL

Report Scope

In this report, the Global Security Paper Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Security Paper Market, By Type

• Hybrid Paper
• Watermark
• Hologram
• Thread & UV Fiber
• Others

Security Paper Market, By Application

• Currency Notes/Bank Notes
• Passport & Visa
• Identity Card
• Legal & Government Documents
• Certificate
• Bank Documents
• Medical Report & Prescription
• Transportation & Logistics
• Others

Security Paper Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Security Paper Market.

Available Customizations:

Global Security Paper Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Security Paper Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Type (Hybrid Paper, Watermark, Hologram, Thread & UV Fiber, Others)
  • 5.2.2. By Application (Currency Notes/Bank Notes, Passport & Visa, Identity Card, Legal & Government Documents, Certificate, Bank Documents, Medical Report & Prescription, Transportation & Logistics, Others)
  • 5.2.3. By Region
  • 5.2.4. By Company (2025)
• 5.3. Market Map

6. North America Security Paper Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Type
  • 6.2.2. By Application
  • 6.2.3. By Country
• 6.3. North America: Country Analysis
  • 6.3.1. United States Security Paper Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Type
      • 6.3.1.2.2. By Application
  • 6.3.2. Canada Security Paper Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Type
      • 6.3.2.2.2. By Application
  • 6.3.3. Mexico Security Paper Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Type
      • 6.3.3.2.2. By Application

7. Europe Security Paper Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Type
  • 7.2.2. By Application
  • 7.2.3. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. Germany Security Paper Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Type
      • 7.3.1.2.2. By Application
  • 7.3.2. France Security Paper Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Type
      • 7.3.2.2.2. By Application
  • 7.3.3. United Kingdom Security Paper Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Type
      • 7.3.3.2.2. By Application
  • 7.3.4. Italy Security Paper Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Type
      • 7.3.4.2.2. By Application
  • 7.3.5. Spain Security Paper Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Type
      • 7.3.5.2.2. By Application

8. Asia Pacific Security Paper Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Type
  • 8.2.2. By Application
  • 8.2.3. By Country
• 8.3. Asia Pacific: Country Analysis
  • 8.3.1. China Security Paper Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Type
      • 8.3.1.2.2. By Application
  • 8.3.2. India Security Paper Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Type
      • 8.3.2.2.2. By Application
  • 8.3.3. Japan Security Paper Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Type
      • 8.3.3.2.2. By Application
  • 8.3.4. South Korea Security Paper Market Outlook
    • 8.3.4.1. Market Size & Forecast
      • 8.3.4.1.1. By Value
    • 8.3.4.2. Market Share & Forecast
      • 8.3.4.2.1. By Type
      • 8.3.4.2.2. By Application
  • 8.3.5. Australia Security Paper Market Outlook
    • 8.3.5.1. Market Size & Forecast
      • 8.3.5.1.1. By Value
    • 8.3.5.2. Market Share & Forecast
      • 8.3.5.2.1. By Type
      • 8.3.5.2.2. By Application

9. Middle East & Africa Security Paper Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Type
  • 9.2.2. By Application
  • 9.2.3. By Country
• 9.3. Middle East & Africa: Country Analysis
  • 9.3.1. Saudi Arabia Security Paper Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Type
      • 9.3.1.2.2. By Application
  • 9.3.2. UAE Security Paper Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Type
      • 9.3.2.2.2. By Application
  • 9.3.3. South Africa Security Paper Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Type
      • 9.3.3.2.2. By Application

10. South America Security Paper Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By Type
  • 10.2.2. By Application
  • 10.2.3. By Country
• 10.3. South America: Country Analysis
  • 10.3.1. Brazil Security Paper Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By Type
      • 10.3.1.2.2. By Application
  • 10.3.2. Colombia Security Paper Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By Type
      • 10.3.2.2.2. By Application
  • 10.3.3. Argentina Security Paper Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By Type
      • 10.3.3.2.2. By Application

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends & Developments

• 12.1. Merger & Acquisition (If Any)
• 12.2. Product Launches (If Any)
• 12.3. Recent Developments

13. Global Security Paper Market: SWOT Analysis

14. Porter's Five Forces Analysis

• 14.1. Competition in the Industry
• 14.2. Potential of New Entrants
• 14.3. Power of Suppliers
• 14.4. Power of Customers
• 14.5. Threat of Substitute Products

15. Competitive Landscape

• 15.1. Giesecke+Devrient Currency Technology GmbH
  • 15.1.1. Business Overview
  • 15.1.2. Products & Services
  • 15.1.3. Recent Developments
  • 15.1.4. Key Personnel
  • 15.1.5. SWOT Analysis
• 15.2. Fedrigoni Group
• 15.3. Infinity Security Papers Limited
• 15.4. Ceprohart SA
• 15.5. Drewsen Specialty Papers GmbH & Co. KG
• 15.6. Simpson Security Papers
• 15.7. Domtar Corporation
• 15.8. A1 Security Print Ltd
• 15.9. Papierfabrik Louisenthal GmbH
• 15.10. Ciotola SRL

16. Strategic Recommendations

17. About Us & Disclaimer