Security Paper Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The security paper market attained a value of USD 20.27 Billion as of 2024 and is anticipated to grow at a CAGR of 7.10% during the forecast period of 2025 to 2034. One of the main drivers of the security paper industry is the growing demand for anti-counterfeiting features in papers such as passports, banknotes, and certificates due to growing fraud cases and tougher government regulations across the globe. The market is thus expected to reach a value of nearly USD 40.25 Billion by 2034.

Security Paper Market Growth

Global security paper market is growing at an impressive rate owing to the growth in demand for anti-counterfeiting solutions across sensitive applications such as currency, passports, and official documents. Security papers are designed with superior features such as watermarks, holograms, and other custom identifiers that rule out fraud and forgery. Governments, banking institutions, and printing organizations are the key consumers, as these entities need to have secure documents for public service and transactions. As identity theft and counterfeiting keep on surging, demand for high-tech security paper will also increase. Moreover, improved technology in manufacturing paper and security features is driving the growth of security paper market even further.

An example of such is the introduction of hybrid paper in the banking industry, wherein the conventional paper is blended with high-tech security features like holograms and UV fibers. This innovation adds security to documents and is being used more and more on banknotes and legal documents. The high use for cash transactions and different government programs to expand BFSI infrastructure rapidly in the Asia-Pacific region will propel the demand for security papers during the forecast period.

Key Trends and Recent Developments

Security paper trends include digital features, customization, eco-friendly materials, and biometrics to enhance document security and meet evolving demands, thereby shaping the security paper market dynamics and trends.

March 2025

De La Rue's Currency division has seen a significant increase in orders, with its order book reaching £347m by January. The company expects growth in FY26 to exceed previous forecasts. This comes as De La Rue works on separating its Authentication division ahead of its £300m sale to Crane NXT.

March 2025

Security Papers Limited (SPL) has signed an agreement with Giesecke+Devrient (G+D) to upgrade its Paper Machine PM-2. The Rs. 3.4 billion project aims to enhance production capabilities and incorporate advanced security features for banknotes, aligning with the State Bank of Pakistan's new banknote series.

November 2024

The Land Transportation Office (LTO) has received new security paper supplies to print vehicle Certificates of Registration (CRs), resolving recent processing delays. LTO Chief Vigor Mendoza said prior guidelines helped prevent a larger issue amid the looming shortage, ensuring smoother registration operations.

December 2023

Threatcop launched its groundbreaking cybersecurity guide, "People Security," at AISS 2023. The guide emphasizes the importance of People Security Management (PSM), featuring insights from 33 top Indian security leaders. It offers actionable strategies to strengthen cybersecurity defenses and highlights the significance of maintaining a security-conscious workforce.

Integration of Digital Technologies

The security paper manufacturers are increasingly integrating digital elements such as RFID tags and QR codes in their papers. These technologies improve document authentication and traceability, addressing increased demand for safe and easy-to-verify documents across industries like banking and government, thus pushing the growth of the security paper market.

Customized Security Solutions

There is an increasing popularity towards customized security features that are client-specific. With the provision of tailor-made solutions, manufacturers are able to counterfeit effectively while uniquely solving security issues that vary across industries, thus achieving a market advantage.

Sustainable and Eco-friendly Solutions

Environmental issues are pushing the innovation of recyclable and environmentally friendly security paper. Companies are using sustainable materials and processes to address regulatory needs and consumer demand, ensuring environmental protection while ensuring document security, thereby helping to create new trends in the security paper market.

Use of Biometrics

The use of biometric technologies, including fingerprint or iris scanning, in security documents is becoming popular. This use increases the level of security of documents, which becomes more forgery-resistant and less subject to unauthorized use.

Security Paper Market Trends

The security paper market is experiencing significant growth, driven by rising demand for high-security aspects in documents like banknotes, certificates, and IDs. With growing counterfeit risks, usage of high-technology aspects like holography, watermarks, and UV features is increasing. Governments and banks are putting money into safer paper to fight fraud and protect vital documents, thus shaping new trends in the security paper market.

Additionally, the increasing trends of digitalization and cyberattacks are fueling the demand for hybrid security products, which integrate physical and electronic protection. The Asia-Pacific market is leading due to the booming demand for security paper for use in currency printing in nations such as India and China. Owing to ongoing innovations and investments, the market will witness long-term growth over the next few years.

Security Paper Industry Segmentation

The report titled “Security Paper Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Paper Types

• Hybrid Paper
• Watermark
• Hologram
• Thread and UV Fibre
• Others

Market Breakup by Application

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

Market Breakup by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Security Paper Market Share

The security paper industry is seeing strong momentum in different types of paper as a result of growing concerns regarding document authenticity and counterfeiting. Hybrid paper, which combines conventional and sophisticated security features, is becoming increasingly popular for its flexibility and added security. Through the combination of digital elements like QR codes or RFID tags with the conventional paper products, hybrid paper provides both physical and digital security, which is more difficult to counterfeit and manipulate. Its potential to integrate a number of layers of security has made it be used in valuable documents such as passports and certificates.

As per security paper market analysis, watermark paper is still a reliable technique in security because of its discreet yet efficient protection. Its capacity to show an embedded image or pattern when lit from behind makes it hard for counterfeiters to duplicate. This property is commonly utilized in banknotes and official documents, giving an added layer of authenticity that can't be easily replicated.

Hologram paper has gained rapid usage because of its visual complexity and beauty. Holographic images or patterns, which change colors and shapes as they are seen from varying angles, are virtually impossible to reproduce, so they are the best choice to use in banknotes and security certificates. The novelty of holograms has ensured their widespread popularity in high-security uses.

Thread and UV fiber-strengthened papers provide invisible security features that are only visible under UV light, providing an additional level of security for documents. According to the security paper industry analysis, these invisible elements are commonly used in currency notes and government official papers, providing increased protection against counterfeiters. All these types of paper combined are defining the future of the security paper industry.

Competitive Landscape

Leading security paper market players are emphasizing the development of advanced security features to mitigate growing counterfeiting threats. They are striving to incorporate innovative technologies such as hybrid papers, holograms, watermarks, and UV fibers to offer multi-layered security. These technologies are aimed at catering to the changing needs of governments, banks, and organizations to ensure authenticity of critical documents like currency, IDs, and certificates. Security paper companies are also focusing on sustainability through the utilization of green materials in the manufacturing process.

Security Paper Mill, Inc.

Security Paper Mill, Inc., an American company founded in 1997, provides an extensive variety of secure paper items such as banknotes, certificates, and government documents. They seek to supply high-quality, counterfeit-proof paper solutions that address governmental and financial institutions' requirements.

Ciotola s.r.l.

Ciotola s.r.l., which was established in 1963 and has its headquarters in Italy, is a manufacturer of special security paper for documents, such as watermarked paper and security threads. Their objective is to supply innovative, state-of-the-art products that ensure genuine protection against forgery and unauthorized copying.

De La Rue plc

De La Rue plc, founded in 1821 and based in the United Kingdom, is known for its security paper employed in banknotes, identity documents, and other secure products. They seek to provide state-of-the-art security features and are keen on growing their polymer banknote business to make banknotes more durable and secure.

Fedrigoni S.P.A.

Fedrigoni S.P.A., which was established in 1888 and has Italian origins, manufactures high-security paper for use on applications such as currency, governmental documents, and legal documents. They specialize in offering an all-encompassing portfolio of paper with infused security features aimed at enhancing protection against counterfeits for documents and currencies.

Other key players in the global security paper market are Security Papers Limited, Giesecke+Devrient GmbH, Security Printing & Minting Corporation of India Ltd., Goznak, China Banknote Printing and Minting Corporation, and FNMT-RCM, among others.