Security Fiber Market: Overview
A security fiber is a component that is added during the production process of paper. Security fibers are non-reproducible. Security fibers can be made by using polyethylene terephthalate, polyamide, or viscose material. Security fibers can be totally or partially coated with special, metalized pigments that are sensitive to light. They appear as thin elements distributed across the paper. Security fibers possess advantages such as wide range and easy applicability. They are available in several lengths and diameters. Security fibers are primarily used in banking and government documentations.
Security Fiber Market: Trends & Demands
Rising demand for security papers, especially in applications that are authenticated by watermarks, holograms, and security inks, such as bank notes, passports, and cheques, is anticipated to drive the demand for security fibers during the forecast period. Factors such as growing tourism and rising demand for printing, reprinting, and circulation of banknotes are also likely to augment the demand for security fibers. Increase in the incidence of fraud and counterfeiting is likely to fuel the security fiber market between 2018 and 2026. Government initiatives for prevention of counterfeiting is a major factor driving the demand for security fibers. The Metropolitan Police in London, operates three anti-counterfeiting schemes: Project Genesius, FALCON, and Amberhill. Security issues associated with migration and immigration are considered key factors driving the demand for security fibers. Rise in the incidence of document fraud, which paves the way for additional criminal offenses including identity theft, human trafficking, financial fraud, and terrorism, is likely to fuel the demand for security fibers from 2018 to 2026.
Security Fiber Market: Key Segments
Based on application, the market for security fibers can be segmented into bank notes, passports, cheques, and other security documents. In terms of type, the security fiber market can be classified into visible security fiber, invisible security fiber, and composite fiber. The visible security fiber segment can be sub-classified into red, green, and blue or visible fiber.
Security Fiber Market: Regional Outlook
Geographically, the global security fiber market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific holds a significant share of the global market. Rise in population, technological advancements, and government initiatives about counterfeiting are major factors that are likely to boost the market in Asia Pacific during the forecast period. China and India are likely to offer lucrative opportunities to the global security fiber market in Asia Pacific between 2018 and 2026. The ‘Make in India’ campaign in India, which is an initiative taken by the Government of India, ensures that the security paper and the ink used for printing currency notes are manufactured domestically. India is the world’s second-largest producer and consumer of bank notes, after China. The market in developed regions, such as Europe and North America, is anticipated to witness attractive growth opportunities, owing to technological advancements. Stringent regulations enforced by the government and other agencies in countries, such as Germany, the U.K., and the U.S., play a pivotal role in driving the market in these countries. The security fiber market in Latin America and Middle East & Africa is estimated to expand at a significant pace during the forecast period, owing to the recent economic growth in these regions.
Security Fiber Market: Key Players
Key players operating in the global security fiber market include NanoMatriX International Limited, Arjowiggins Security, and Fabriano Security.
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