Security Paper Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
“Security Paper Market Size Worth $24.33 Billion By 2025 | CAGR: 7.0%�
The global security paper market size is expected to reach USD 24.33 billion by 2025, according to a new study conducted by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.0% over the forecast period. Growing demand for anti-counterfeit technologies in applications such as currency printing and printing bank checks is expected to be the key growth driver. Security paper protects critical document against alteration and forgery by using multiple security technologies such as watermark, hologram, and Ultraviolet (UV) fiber and threads. Over the last few years, the rapid proliferation of advanced printing technologies has led to an increase in the circulation of fake notes, passports, visas, and certificates, among others. There has also been a significant increase in the number of fraud cases reported worldwide. In order to overcome these issues, the security paper manufacturing industry is focusing on the development and application of advanced security features such as hologram and magnetic microwires. These security features are anticipated to offer improved document security to prevent counterfeiting in comparison to that of the traditional methods mentioned above. Currency notes and bank documents are the major applications of security paper. Printing of currency notes is a continuous process to ensure effective circulation in the economy. However, emergence of blockchain technology and growing digitalization is restraining the growth of the security paper market as more business and consumers are shifting towards online payment options due to enhanced convenience and security. Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/security-paper-market
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