Seal paper, also known as security paper, is a type of paper
that is used in various security applications for the purpose of authentication
and prevention of forgery. Some key properties of seal paper include intaglio
printing, invisible fluorescent fibers, microline printings and watermarks.
Seal paper finds major applications in certificates, identity documents,
passports, licenses and bank documents where security and authentication is of
prime importance. With the growth in banking, finance and government sectors
worldwide, the demand for secure documentations has increased rapidly over the
past few years. Moreover, increasing incidents of forgery and frauds have also
prompted organizations to adopt more secured papers for printing confidential
records.
The global seal paper market is estimated to be valued at US$ 18.25 Mn in 2024 and is expected to exhibit a CAGR of 14% over the forecast period
2024 to 2031.
Key Takeaways
Key players operating in the seal paper market are Algenol, Solazyme (TerraVia
Holdings), Sapphire Energy, Cyanotech Corporation, Algae Systems, E.I.D.- Parry
(India) Limited (Parry Nutraceuticals), Evonik Industries, Cargill,
Incorporated, DIC Corporation (Spirulina production), Cellana. Among these,
Algenol, Solazyme and Sapphire Energy collectively account for over 35% of the
global
Seal
Paper Market Demand.
The growth in digitalization and new technologies is opening up key opportunities
for seal paper manufacturers to incorporate features such advanced security
threads, sophisticated chemical tags, laser perforations and others. This is
helping companies offer highly customized and secure solutions as per the
changing needs of end-use industries.
Geographically, the seal paper market in Asia Pacific is anticipated to witness
fastest growth during the forecast period driven by expanding operations of
banking,finance and government sectors in major countries like China and India.
Leading players are actively boosting their presence in Asia and other
developing markets to capitalize on the high growth opportunities.
Market drivers: Some of the major
drivers for the seal paper market include rising number of fraudulent
activities worldwide which has boosted the demand for secured documents.
Furthermore, increasing digitization of important records by organizations also
requires high security papers for printing. Stringent government regulations
regarding issuance of identify proofs and certificates also fuel the market
growth.
Market restraints: High cost of advanced seal papers incorporated with
multiple layers of security features can deter its demand from cost-sensitive end
users. Furthermore, growing adoption of digital documentation and online
identities poses a major threat to traditional seal paper market. Lack of
awareness regarding benefits of seal papers in developing nations also acts as
a market restraint.
Segment
Analysis
The seal paper market is segmented based on material,
application, and region. Based on material, the market is segmented into
adhesive-coated paper, polyethylene coated paper and others. Among these, the
adhesive-coated paper segment dominates the market, holding around 60% share.
This is because adhesive coating on paper provides excellent bonding and
ensures seal integrity.
Based on application, the seal paper market is segmented into food &
beverage, pharmaceutical, home & personal care, industrial and others. The
food & beverage application dominates the market and is expected to
continue its dominance during the forecast period. This is due to growing use
of seal papers in packaging of various food items like snacks, dry fruits, cereals,
etc. for providing barrier against moisture, oxygen and ensuring freshness.
Global Analysis
Regionally, the seal paper market is dominated by Asia
Pacific region. Countries like China, Japan and India have seen fastest growth
in the market due to thriving food manufacturing industries. Within Asia
Pacific, China holds the largest share of over 30% of global seal paper demand
due to presence of large number of food processing industries. North America is
another major region for seal paper market driven by well established food and
pharmaceutical industries. Growth in Europe has been steady driven by stringent
packaging regulations. Key players are focusing on expanding their presence in
developing regions through partnerships.
Get More Insights
On- Seal
Paper Market
Comments
Post a Comment