세계의 보안용지 시장 규모 : 구성요소별, 용도별, 지역별 범위 및 예측

Security Paper Market Size and Forecast

Security Paper Market size was valued at USD 17.6 Billion in 2024 and is projected to reach USD 30.4 Billion by 2031, growing at a CAGR of 7.03% from 2024 to 2031.

Security paper is a specialized paper that has security elements to prevent counterfeiting, forging, and unauthorized replication. Watermarks, security threads, holograms, UV-reactive inks, and microprinting are among the features offered.

Security paper is often used to print a variety of documents and expensive instruments that require strong fraud protection, such as cash notes, passports, certificates, legal documents, tickets, and identification cards.

Security paper helps to confirm the legitimacy of these papers by incorporating several security elements that protect them from tampering or unauthorized copying.

Furthermore, its uses range from government agencies to financial institutions, academic institutions, and commercial companies, where the integrity and validity of sensitive documents are critical.

Global Security Paper Market Dynamics

The key market dynamics that are shaping the security paper market include:

Key Market Drivers

Increase in Counterfeiting Activities: The rise in global counterfeiting operations is a primary driver of the security paper market. According to the Organisation for Economic Cooperation and Development (OECD), the value of counterfeit and pirated goods shipped internationally totaled USD 509 Billion in 2016, accounting for 3.3% of global trade. This huge figure emphasizes the necessity for better security paper solutions to prevent forgery and fraud.

Growth in the Banking and Financial Sector: The growth of the banking and financial sectors, particularly in emerging economies, is driving up demand for security paper, which is used in money, checks, and other financial documents. According to the World Bank, the global percentage of adults with bank accounts rose from 62% in 2014 to 69% in 2017. The increase in financial inclusion is pushing the demand for secure documentation and transaction papers.

Government Initiatives for Secure Documentation: Governments around the world are enacting stronger legislation and steps to improve document security, strengthening the security paper market. For example, the European Union's decision in 2019 to include new security measures in Schengen visa stickers has boosted demand for sophisticated security papers. According to the European Commission, nearly 15 million Schengen visas are issued each year, and all require high-security paper with advanced features.

Key Challenges:

Digitalization of Transactions: The shift to digital platforms for financial and personal interactions diminishes reliance on physical documents, reducing the market for secure paper products in industries such as banking and government documentation.

High Production Costs: Integrating advanced security elements such as holograms, biometric data, and complex watermarks is prohibitively expensive. This raises the entire cost of security papers, reducing their competitiveness against digital security solutions.

Market for Counterfeit Deterrents: Research and development costs are strained by the necessity for ongoing technological breakthroughs in security paper as counterfeiters become more skilled. Keeping up with counterfeit technologies while maintaining costs is a big problem for the security paper market.

Key Trends:

Hybrid Papers: Hybrid papers combine traditional security measures with digital elements to provide layered security by merging digital codes and biometric data, resulting in a significant trend that improves both physical and digital security.

Sustainability Focus: There is a growing trend towards ecologically friendly security papers that use sustainable sources and fewer chemicals in production processes, in line with worldwide environmental standards.

Personalized Security Features: Customized security solutions adapted to specific organizational needs are gaining popularity, such as personalized watermarks and security threads that are unique to each client, hence boosting security and lowering the risk of fraud.

Global Security Paper Market Regional Analysis

Here is a more detailed regional analysis of the security paper market:

Asia Pacific:

According to Verified Market Research, Asia Pacific is estimated to dominate the security paper market during the forecast period. The Asia Pacific region's rapid economic development and industrialization have increased the demand for secure financial transactions and records. The Asian Development Bank estimates that the region's GDP was at a rate of 5.9% in 2021, outperforming other global regions. This economic boom has increased the need for security paper in money, checks, and other financial instruments. For example, the People's Bank of China reported that China's M2 money supply increased by 9% year on year in 2020, reaching 218.68 trillion yuan (approximately 33.8 trillion USD).

Furthermore, many Asian Pacific countries have launched large-scale national identification programs, resulting in an increased need for security papers. The Unique Identification Authority of India (UIDAI) reports that India's Aadhaar program, the world's largest biometric ID system, has enrolled over 1.3 billion people as of 2021. This vast project has considerably increased the region's security paper market, as each Aadhaar card requires high-quality security paper to prevent forgery and ensure validity.

North America:

The North American region is estimated to exhibit substantial growth during the forecast period. The number of identity theft and fraud cases in North America has increased significantly, fueling the demand for protected documents. According to the Federal Trade Commission (FTC), there were 4.8 million identity theft and fraud reports in 2020, a 45% increase from 3.3 million in 2019. This growth in identity-related crimes has resulted in a greater use of security paper in various identifying documents such as driver's licenses, passports, and social security cards.

Furthermore, strict financial rules have increased the need for security papers in North America. In fiscal year 2019, FinCEN received roughly 20.8 million Bank Secrecy Act (BSA) reports, including Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs). These requirements oblige financial institutions to keep secure records and implement anti-fraud procedures, which has prompted the use of security paper for checks, bank statements, and other financial documents.

Europe:

Europe region is estimated to exhibit significant growth within the market during the forecast period. The growing travel and tourist industry in Europe has increased the demand for secure travel documents. According to the European Travel Commission, despite the pandemic, Europe welcomed 519 million international tourists in 2019. This enormous volume of tourists demands secure passports and visas, which fuels the security paper business. The European Union alone grants over 15 million Schengen visas each year, all of which require a high-security paper with enhanced features to prevent forgery.

Furthermore, European countries are rapidly adopting digital identity systems, which, ironically, increases demand for secure physical documents. The European Commission estimated that by 2020, 67% of EU residents would have used eGovernment services. This digital transformation needs secure physical backups and verification documentation. For example, Estonia, a digital governance leader, gives physical ID cards to all citizens and e-residents, with over 1.3 million active digital identities as of 2021, according to the e-Estonia website. These physical cards employ enhanced security material to prevent forgery and ensure validity.

Global Security Paper Market: Segmentation Analysis

The Security Paper Market is segmented based on Component, Application, and Geography.

Security Paper Market, By Component

Hybrid Paper

Watermark

Hologram

Thread & UV Fiber

Others

Based on Component, the market is segmented into Hybrid Paper, Watermark, Hologram, Thread & UV Fiber, and Others. The hybrid paper segment is estimated to dominate the security paper market due to the growing demand for extremely safe and long-lasting paper for printing cash and other high-security documents. Hybrid papers are preferred for their enhanced security features, which mix classic paper elements with modern materials, providing greater durability to wear and tear and improved security against counterfeiting.

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

Based on the Application, the Security Paper Market is divided into Currency Notes/Bank Notes, Passport & Visa, Identity Card, Legal & Government Documents, Certificate, Bank Documents, Medical Report & Prescription, Transportation & Logistics, and Others. The currency notes/bank notes segment is estimated to dominate the market over the forecast period due to the global necessity of protecting national currencies from counterfeiting, which is a top priority for governments around the world. Banknotes are produced and circulated under strict security regulations, which include advanced features such as watermarks, security threads, and specialty substrates to prevent forgery and increase longevity. Despite the rise of digital payments, the demand for secure, high-quality banknotes remains strong.

Security Paper Market, By Geography

North America

Europe

Asia Pacific

Rest of the World

Based on Geography, the Security Paper Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to show the highest growth during the forecasted period. Rapid economic expansion in large economies such as China and India has increased the demand for stronger security measures in financial and identification paperwork. These countries are experiencing rapid urbanization and population growth, resulting in an increased need for secure documents such as banknotes and identity cards. Furthermore, the region is home to some of the world's best technology developers, who are continually working on improved security measures that can be implemented into paper to make it more difficult to counterfeit. Government activities in Asia Pacific to improve national document security standards are also important.

Key Players

• The "Security Paper Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are Arjowitten Security, Crane Company, Giesecke & Devrient GmbH, Land Securities Group PLC, Oberthur Technologies, HID Global Corporation, NXP Semiconductors N.V., Avery Dennison Corporation, Securency Pty Ltd, Louisenthaler Papierfabrik GmbH, Goznak, India Security Press, Brazilian Mint Company, and Papeles Especiales Loreto S.A.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

• Security Paper Market Recent Developments
• In March 2024, Armis, a cybersecurity company, acquired Silk Security for $150 million. This strategic acquisition aims to strengthen Armis' security offerings, allowing the company to effectively handle growing cybersecurity threats. The acquisition underscores a trend in the security industry toward integrating capabilities to provide more comprehensive solutions to clients.
• In March 2024, Veracode announced the acquisition of Longbow Security, which specializes in automated root cause analysis technology. Veracode's move intends to increase its security capabilities by incorporating Longbow's superior technology solutions, underlining a larger industry trend toward more sophisticated and automated security systems.

TABLE OF CONTENTS

1. Introduction

• Market Definition
• Market Segmentation
• Research Methodology

2. Executive Summary

• Key Findings
• Market Overview
• Market Highlights

3. Market Overview

• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter's Five Forces Analysis

4. Security Paper Market, By Type of Security Paper

• Watermark Paper
• Thread Paper
• Chemically Protected Paper
• Holographic Paper
• Security Printing Paper
• Others

5. Security Paper Market, By End-Use Industry

• Banking and Finance
• Government and Legal Documents
• Education
• Commercial
• Others

6. Security Paper Market, By Security Features

• Visible Security Features
• Covert Security Features
• Forensic Security Features
• Track-and-Trace Technologies

7. Regional Analysis

• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE

8. Market Dynamics

• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market

9. Competitive Landscape

• Key Players
• Market Share Analysis

10. Company Profiles

• Giesecke+Devrient
• De La Rue
• Fedrigoni Group
• Security Printing and Minting Corporation of India Limited
• Real Casa de la Moneda
• Goznak
• China Banknote Printing and Minting Corporation
• Drewsen Spezialpapiere
• Document Security Systems

11. Market Outlook and Opportunities

• Emerging Technologies
• Future Market Trends
• Investment Opportunities

12. Appendix

• List of Abbreviations
• Sources and References