Global Security Paper Market Research Report - Forecast to 2032

Security Paper Market Research Report Information By Security Feature (Hybrid Papers, Watermarks, Holograms, and Threads), By Application (Banknotes, Legal & Government Documents, Certificates, Identity Cards, Passport, Checks, and Stamps) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/PNT/2244-HCR | 132 Pages | Author: Sakshi Gupta | February 2024         

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Global Security Paper Market Overview


Security Paper Market Size was valued at USD 9.9 Billion in 2022. The Security Paper market industry is projected to grow from USD 11.30 Billion in 2023 to USD 32.65 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.18% during the forecast period (2023 - 2032). A growing number of government programmes are focusing on manufacturing high-quality security papers in order to reduce the incidence of counterfeiting and increase document security and secrecy are the key market drivers enhancing the market growth.


Security Paper Market Share


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Security Paper Market Trends




  • Growing security is driving the market growth.




The market CAGR for security paper is being driven by the rising security. The growing need to combat counterfeit banknotes is driving a rise in the use of security paper to print cash and banknotes. Watermarks, holograms, and security threads or fibers are popular characteristics that make cash secure. The watermark is commonly found on banknotes because the public immediately recognizes it, and protects against scanning, chemical, mechanical, and replication efforts. In addition, security fibers are employed in conjunction with a watermark to defend against color photocopying. For example, the Reserve Bank of India provides currency with distinguishing security features such as watermarks and security threads to differentiate them from faked banknotes. Rising counterfeit note instances and the requirement for continuing currency creation and circulation to support the economy are driving expansion in the security paper industry. Many large currency note paper makers are now focused on new business prospects and increasing their product line to satisfy the rising needs of the corporate, education, and healthcare sectors. As part of their product development strategy, these firms are working hard to create upcoming technologies such as magnetic microwires and holograms.


The increased usage of security papers has enabled businesses, individuals, and regulatory authorities to limit the abuse of critical documents effectively. Manufacturers also help businesses build customized papers with various characteristics and kinds, such as holograms, watermarks, thread, and UV fibers. The security paper in banking applications must adhere to the Worldwide Clearing Bank Standard (CBS). The CBS standard is a collection of paper requirements developed by banks to guarantee that automatic document feeders may handle printed forms. Technological advancements such as hybrid paper have emerged as important market growth drivers. The major manufacturers are focused on developing highly secure technologies and incorporating them into their product offerings. With the trend of money counterfeiting in many rich and emerging nations, the need for security paper is rising since it has led to increased corruption, impeding various countries' progress. Cotton-fiber, polymer, or hybrid paper is commonly used to make money. Compared to regular paper, this makes banknotes more secure and resistant to wear and tear. With the increase in counterfeit instances in nations, many governments are looking for inventive ideas for new technologies and ways to help make banknotes more secure. They are anticipated to bring new market solutions. Furthermore, the growing use of paper ballot voting methods in the United States boosts the demand for security paper.


A rise in incidences of fraud and counterfeiting is driving the market. According to the Australian government, 121 applications were not completed in FY 2018-2019 due to suspicion of dishonesty or fraud, while 255 passports were canceled or rejected due to national security or law enforcement concerns. Furthermore, the number of counterfeit notes identified in circulation USD 5, USD 20, USD 10, and USD 150 grows yearly in countries such as Canada. According to the preceding point, the market is driven by the need for security paper to avoid counterfeiting. Thus, driving the Security Paper market revenue.


Security Paper Market Segment Insights


Security Paper Security Feature Insights


Based on security features, the Security Paper market segmentation includes hybrid papers, watermarks, holograms, and threads. The hybrid papers segment dominated the market, accounting for 35% of market revenue. Customers like hybrid sheets because they provide several safety features. As a result, the demand for hybrid papers is growing. Hybrid sheets incorporate features such as watermarks, threads, UV fibers, and UV printing. Such robust security characteristics are used to minimize fabricating practices, resulting in a surge in demand for security paper. Hybrid paper, for example, has been a primary driver of the security paper market's growth.


Figure 1:  Security Paper Market, by Feature, 2022 & 2032 (USD Billion)


Security Paper Market, by Feature, 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Security Paper Application Insights


Based on application, the Security Paper market segmentation includes banknotes, legal & government documents, certificates, identity cards, passports, checks, and stamps. The banknotes category generated the most income. From a technological aspect, banknotes are the most difficult and prestigious value security documents. The most popular materials used to manufacture them are cotton-fiber paper, polymer paper, and hybrid paper. Security paper makes banknotes more robust and resistant to wear and tear compared to standard paper. Special polymers are used to produce banknotes because they last longer than paper notes and are resistant to fire and water.


Security Paper Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Security Paper market area will dominate this market; demand for security paper in North America has risen because of the need to ensure acceptable security across enterprise longitudes. Several business activities rely heavily on paperwork.


Further, the major countries studied in the market report are The US, Canada, Japan, India, German, France, the UK, Italy, Spain, China, Australia, South Korea, and Brazil.


Figure 2:  SECURITY PAPER MARKET SHARE BY REGION 2022 (USD Billion)


SECURITY PAPER MARKET SHARE BY REGION 2022


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe's Security Paper market accounts for the second-largest market share. With the increasing number of incidents of counterfeit banknotes in Europe, governments are searching for new technologies and tactics to help make banknotes secure. This is anticipated to create new commercial opportunities. Furthermore, the German Security Paper market dominated, while the UK was the fastest-expanding market in Europe.


Between 2023 and 2032, the Asia-Pacific Security Paper Market is estimated to develop at the quickest CAGR. Because of the rising population, the significant preference for cash transactions, and several government programs targeted at fast growth of the BFSI infrastructure. Furthermore, Asia Pacific is seeing an increase in the number of people migrating to other nations for work and further education. Moreover, China's Security Paper market held the largest market share, and The Indian Security Paper market was the Asia-Pacific region's fastest growing.


Security Paper Key Market Players & Competitive Insights


Leading market companies are extensively spending R&D on increasing their product lines, which will help the Security Paper market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Security Paper industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.


Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Security Paper industry to serve clients and expand the market sector. The Security Paper industry has recently provided some of the most important benefits.  Security and other major competitors in the Security Paper market are seeking to raise consumer demand by investing in research and development activities.


Security, an Austrian business specializing in digital and physical security systems for a wide range of product categories, has drawn notice by developing a new paper security seal. For many years, the firm has been a vital supplier to large industrial enterprises worldwide, and it is a leader in developing and delivering transparent and opaque security closing seals. For a long time, Securikett's research department has been working on producing paper-based security seals with the same performance and security as plastic-based security seals, which have been more routinely manufactured up until now.In August 2021, A new paper-based security seal is transforming the packaging business. Security creates security seals with color shifts from paper for the first time.


DSS is a worldwide public corporation with a diverse range of businesses.


Their business lines include direct-to-consumer goods, bio-health, stocks and funds management, blockchain and fintech, and renewable energy.


 DSS is focused on and ready to empower businesses of all sizes, driven by innovation, industry demands, and acquisitions. They are a firm focused on and ready to empower companies of all sizes, driven by innovation, industry demands, and acquisitions. DSS's business plan is built on a distribution-sharing scheme, in which stockholders would get shares in DSS's subsidiaries when they are strategically spun off into IPOs. In February 2020, Document Security Systems announced the general market release of their AuthentiGuard Security Paper. Its eight-tiered protections ensure that certificates and documents cannot be tampered with or precisely replicated, preventing fraudulent copies and scans.


Key Companies in the Security Paper market include.



  • Ciotola S.R.L.(Italy)

  • Drewsen Spezialpapiere GmbH & Co. KG

  • EPL House for Security Printing (Libya)

  • Sequana Group (France)

  • Giesecke & Devrient (Germany)

  • China Banknote Printing and Minting Corporation (Beijing)

  • Document Security Systems Inc.(U.S.)

  • Security Paper Limited (Pakistan)

  • De la Rue plc (U.K.)

  • Security Printing and Minting Corporation of India Limited

  • Fedrigoni Group (Italy).


Security Paper Industry Developments


November 2022: International Paper introduced OHMEGA Conductive Ink + Touchcode, it's latest technology that adds a new layer of trademark protection to the packaging sector. The advantages of OHMEGA Conductive Ink + Touchcode include rapid and easy activation via the end user's phone's browser, eliminating the need for a camera or a separate app, and a safe and secure platform that reduces the danger of spoofing, phishing, or counterfeiting.


Security Paper Market Segmentation


Security Paper Security Feature Outlook



  • Hybrid Papers

  • Watermarks

  • Holograms

  • Threads


Security Paper Application Outlook



  • Banknotes

  • Legal & Government Documents

  • Certificates

  • Identity cards

  • Passport

  • Checks

  • Stamps


Security Paper Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 9.9 Billion
Market Size 2023 USD 11.30 Billion
Market Size 2032 USD 32.65 Billion
Compound Annual Growth Rate (CAGR) 14.18% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Security Feature, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled  Ciotola S.R.L.(Italy), Drewsen Spezialpapiere GmbH & Co. KG, EPL House for Security Printing (Libya), Sequana Group (France), Giesecke & Devrient (Germany), China Banknote Printing and Minting Corporation (Beijing), Document Security Systems Inc.(U.S.), Security Paper Limited (Pakistan), De la Rue plc (U.K.), Security Printing and Minting Corporation of India Limited, and Fedrigoni Group (Italy).
Key Market Opportunities Government and military interest in the rising of forged documents
Key Market Dynamics High-end technology that can identify original paper from forged ones.




Frequently Asked Questions (FAQ) :

The Security Paper market size was valued at USD 9.9 Billion in 2022.

The Security Paper market is projected to grow at a CAGR of 14.18% during the forecast period, 2023-2032.

North America had the largest share in the Security Paper market

The key players in the Security Paper market are General Mills Inc., Amway, Conagra Brands Inc., Cargill Incorporated, Abbott Laboratories, Kraft Foods Group Inc., The Coca-Cola Company.

The beverage category dominated the Security Paper market in 2022.

The store based had the largest share in the Security Paper market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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