Security Paper Market Size Worth $24.14 Billion By 2032 | CAGR: 5.4%

Security Paper Market Size Worth $24.14 Billion By 2032 | CAGR: 5.4%

The global security paper market size is expected to reach USD 24.14 billion by 2032, according to a new study by Polaris Market Research. The report “Security Paper Market Share, Size, Trends, Industry Analysis Report, By Type (Hybrid Paper, Watermark, Hologram, Thread and UV Fiber, and Others); By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing focus of a wide number of government initiatives mainly focused on producing high-quality security papers to minimize the prevalence of counterfeiting and strengthening document security and confidentiality are among the major prominent factors boosting the market growth. The continuous rise in the product need and demand for the manufacturing of banknotes and currency and extensive development in R&D activities to innovate new technologies and features, which enhance customer satisfaction and security, is further likely to create lucrative growth opportunities for the market. For instance, in November 2022, International Paper unveiled its OHMEGA Conductive Ink + Touchcode, which provides a new dimension to brand protection. It offers a unique interaction with brands, delivers exclusive and customized content, and can be tailored to meet particular customer requirements.

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With the significant advancements in technology, the security paper industry has witnessed the introduction of new anti-counterfeiting technologies, including color-shifting inks, microprinting, security threads, holograms, and biometric security features along with the integration of radio-frequency identification technology that enables wireless identification and tracking of objects using radio waves, has been gaining popularity all over the world.

Moreover, the growing need and penetration to maintain the integrity of various types of documents across several business units, along with the surge in consumer prevalence to maintain and effectively sustain the integrity of their products, is pushing the market forward. Apart from this, various large central banks worldwide are moving towards more durable solutions such as polymer substrates, superior varnishes and coatings, and polymer composites due to their waterproof and more resistant to soiling, folding, and micro-organisms capabilities, which results in significant savings for the issuing authorities.

Security Paper Market Report Highlights

  • Hybrid paper segment accounted for largest market share in 2022, which is mainly driven by growing product adoption due to its numerous features and development of new materials and technologies
  • Legal and government documents segment is projected to grow at a highest CAGR during the forecast period, owing to surge in the number of government favorable initiatives and focus on incorporating advanced features
  • Asia Pacific region dominated the global market with largest market in 2022, owing to huge penetration for the cash-based transactions and significant expansion in the region BFSI Sector
  • The global key market players include Simpson Security Papers, SMP Security Paper, Fedrigoni Group, Shandong Hirun Paper, Security printing, and Domtar Corporation

Polaris Market Research has segmented the security paper market report based on type, application, and region:

Security Paper, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Hybrid Paper
  • Watermark
  • Hologram
  • Threads and UV Fiber
  • Others

Security Paper, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Bank Notes
  • Passports
  • Identity Cards
  • Certificates
  • Legal and Government Documents
  • Cheques and Stamps
  • Others

Security Paper, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa


Security Paper Market Report Scope

Report Attributes


Market size value in 2023

USD 15.05 billion

Revenue forecast in 2032

USD 24.14 billion


5.4% from 2023– 2032

Base year


Historical data

2019– 2021

Forecast period

2023– 2032

Quantitative units

Revenue in USD billion and CAGR from 2023 to 2032

Segments covered

By Type, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Domtar Corporation, Security Papers Ltd., Security Printing & Minting Corporation of India Ltd., Simpson Security papers, SMP-Security Paper Mill Inc., Goznak, HG Technology Sdn, Security Print Limited, China Banknote Printing and Minting Corporation, Real Casa de La Moneda, Fedrigoni Group, Document Security Systems Inc., Gemini Graphics Pvt Ltd., Pura Group, Shandong Hirun Paper Co. Ltd., and Giesecke+Devrient GmbH. 

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