Houston, TX -- (SBWire) -- 01/14/2019 --The security paper market is projected to grow from USD 11.4 billion to reach USD 14.8 billion by 2023, at a CAGR of 5.42% from 2018 to 2023. The growth of this market is attributed to the rising incomes, infrastructure modernization, large population base, and cash-based payments. Further, an increase in the number of fraud and counterfeiting cases have boosted the demand for security papers across various applications.
Printing, circulation, and reprinting of banknotes and the growth in tourism is projected to increase the demand for passports & visas, which in turn, is driving the growth of the security paper market across the globe. However, increasing digitization acts as a roadblock in the growth of the market. E-Payment solutions are also replacing the use of cheques and banknotes. Further, the stringent laws and regulations, particularly in terms of control of the number of notes in circulation, is projected to hinder the security paper market growth in the near future.
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Some of the key: Real Casa De La Moneda (FNMT-RCM),Security Paper Limited,Security Paper Mill, Inc.,Security Printing and Minting Corporation of India Limited (SPMCIL),Shandong Hirun Paper Co., Ltd,Simpson Security Papers
The Global Security Paper Market is poised to grow strongly throughout the forecast period 2018 to 2025. Some of the distinguished trends that the market is witnessing include regulatory restrictions, the growing usage of Security Paper in several end user segments, recent technological developments of the industry and growth investment opportunities. Asia Pacific is the largest market for security paper, as the largely populated countries –India and China are present here. The use of security paper across all applications is swiftly increasing in these countries, with currency printing being the largest application.
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Major factors cover in this reports:
- Methodology and Scope
- Market Executive Summary
- Security paper market Outlook
- Technique Type Estimates & Trend Analysis
- Component Type Estimates & Trend Analysis
- Deployment Type Estimates & Trend Analysis
- End-Use Type Estimates & Trend Analysis
- Security paper market Regional Estimates & Trend Analysis
- Competitive Landscape
- Marketing Strategy Analysis, Distributors/Traders
- Effect Factors Analysis
- Security paper market Forecast
- Appendix
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