Security Paper Market Worth 16.37 Billion by 2021

The report Security Paper Market, by Security Feature (Hybrid Papers, Watermarks, Holograms, and Threads), Application (Banknotes, Legal & Government Documents, Certificates, Identity cards, Passport, Checks, and Stamps), and Region-Global Forecast to 2021, published by MarketsandMarkets, Pune, India,the market is estimated to grow to $6.37 billion by 2021, at a CAGR of 6.0% from 2016.

Browse 100 market data tables and 37 figures spread through 151 Pages and in-depth TOC on "Security Paper Market."

The Security Paper Market is projected to witness significant growth in the next few years, due to the increasing need for protection against counterfeiters and printing, reprinting, and continuous circulation of banknotes. The increase in disposable incomes has made overseas tours more affordable, which has led to higher demand for visas and passports, thus driving the demand for security paper.

The hybrid papers segment dominated the market in 2015 and is projected to be the fastest-growing segment in the next five years. As it has built-in security features such as security threads, watermarks, and UV fibers, it effectively contributes to combating counterfeiting. With the increase in fake notes, visas, and passports, the market for anti-counterfeiting technologies is thus driving growth of hybrid paper in the emerging economies of Asia-Pacific, the Middle East, and Latin America.

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The banknotes segment dominated the market in 2015 and is projected to be fastest-growing application sector in the next five years. As banknotes form a significant base for circulation of currency in any country, the demand for banknote printing is higher than any other security document.

Europe contributes largely to the global security paper market. However, the European market is projected to grow at a comparatively lower rate than other regions, due to sub-normal performance, economically. Asia-Pacific is projected to register the highest growth from 2016 to 2021, while India is projected to be the fastest-growing country-level market in the region for the security paper market. The Latin American region is projected to grow at the second-highest CAGR, with Brazil registering the highest growth rate in the region. Countries such as Argentina, Canada, Russia, and countries in the Middle East are projected to grow at moderate CAGRs between 2016 and 2021.