Security Paper Market Size

Statistics for the 2023 & 2024 Security Paper market size, created by Mordor Intelligence™ Industry Reports. Security Paper size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Security Paper Industry

Security Paper Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Security Paper Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Security Paper Market Analysis

The security paper market (henceforth, referred to as the market studied) is expected to register a CAGR of 6% during the forecast period 2021 - 2026.

  • With the increasing counterfeit cases in countries, the various governments are seeking innovative ideas for new technologies and methods that could help make banknotes more secure and expected to provide new solutions in the market. Furthermore, the coming trend of paper ballots voting systems in the United States increases the growth of security paper.
  • The increase in cases of fraud and counterfeiting is driving the market. According to the Australian government, in FY 2018-2019, 121 applications were not processed on suspicion of dishonesty or fraud, and 255 passports were canceled or refused on national security or law enforcement grounds. Moreover, increased counterfeit in the currency, such as in Canada, the number of counterfeits notes detected in circulation USD 5, USD 10, USD 20, and USD 150 is increasing on a yearly basis. The above factor states that the demand for security paper to prevent counterfeiting drives the market.
  • Furthermore, the growth in tourism to increase the demand for visas and passports is driving the market. According to the European Travel Commission, the inbound tourism visitor growth n 2021 will increase highly in Middle East, Africa, and Asia-Pacific with 6%, 5.2%, and 4.7%, respectively. This tends to increase the demand for security paper.
  • However, the growth in digitization is challenging the market studied to grow efficiently. The increasing investment in digital transformation by various players in every end-user applications is restraining the market from growing. According to Forbes, about 40% of all technology spending in 2019 went toward digital transformation in the coming future.

Security Paper Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)