Security Paper Market share 2021: Challenges, Growth Drivers
Market Overview:
Security papers are papers with incorporated features such as watermarks or invisible fibers embedded in the paper in order to avoid document tampering, forgery and other fraudulent activities. As per the report published by Market Research Future (MRFR), the global security paper market share is anticipated to project higher growth potential in the coming years.
Market Drivers and Restraints:
With the rapid increase in incidences of forgery, counterfeiting and document tampering, various companies, institutes and government organizations are utilizing security papers in order to secure valuable documents. Increasing use of security papers for printing cheques, banknotes, certificates, stamp papers, identity cards and passports is majorly propelling the growth of the global security paper market.
With advancement in technology, the threat of high-tech counterfeiting has increased, leading to the rise in demand for security papers, which in turn is fueling the expansion of the global security papers market. Introduction of hybrid security papers is also impacting positively on the growth of the global security paper market. However, increasing preference of e-documents and softcopies that are secured with encryption rather than using hard copies and printed papers are likely to hamper the growth of the global security paper market during the forecast period.
Segmental Analysis:
The global security paper market has been segmented on the basis of security feature and application. Based on security feature, the security paper market is segmented into hybrid papers, watermarks, holograms and threads. Based on application, the security paper market is segmented into banknotes, legal and government documents, certificates, identity cards, passport, checks and stamps.
Regional Analysis:
Geographically, the global security paper market has been segmented into North America, Europe, Asia Pacific and the rest of the world. With respect to security paper market size, the security paper market in the Europe region is leading the global security paper market. The presence of major market players in the countries such as Germany, Spain, the U.K., Russia, Italy and France is driving the security paper market in the Europe region. The Asia Pacific region is projecting significant growth in the global security paper market owing to the increasing utilization of security papers for production of banknotes and in various government organizations in this region.
Competitive Dashboard:
The players in the global security paper market are introducing various new products in order to withstand the increasing security threats of valuable documents. The strategic mergers and acquisitions are aiding the prominent players in expanding their businesses and sustaining the competitive environment of the global market during the forecast period. Increasing research and development expenditure for the launch of new products is sharpening the competitive edge in the global security papers market.
The major player profiled by MRFR in the report on the global security paper market are China Banknote Printing and Minting Corporation (Beijing), Ciotola S.R.L.(Italy), Document Security Systems, Inc. (the U.S.), EPL House for Security Printing (Libya), Security Paper Limited (Pakistan), Sequana Group (France), De La Rue plc (the U.K.), Giesecke & Devrient (Germany), Fedrigoni Group (Italy) and Goznak (Russia).
Browse Complete report @ https://www.marketresearchfuture.com/reports/security-paper-market-3117
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