Security Paper Market – Giesecke+Devrient (Germany) and De La Rue plc (UK) are the Key Players in the Market
According to the market research report " Security Paper Market by Component (Substrates, Watermarks, Threads, and Holograms), Application (Banknotes, Passports, Identity Cards, Certificates, Legal & Government Documents, Cheques, and Stamps), and Region - Global Forecast to 2023", The security paper market is projected to grow from USD 11.4 billion in 2018 to USD 14.8 billion by 2023, at a CAGR of 5.42% during the forecast period. The rising demand for security paper in several applications such as bank notes, legal & government documents, certificates, identity cards, passports, cheques, and stamps, which are authenticated by watermarks, holograms, and security inks is projected to boost the market growth during the forecast period. Other factors such as increasing tourism, the growing demand for highly secured documents, the rising demand for printing, reprinting, and circulation of banknotes, and the rising instances of fraud, and counterfeiting incidences hav...