The security paper market will register a CAGR of almost 3% by 2022

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14 Jan, 2019, 16:09 ET

LONDON, Jan. 14, 2019 /PRNewswire/ -- About this market
Though the digital payment system is growing across the globe, the hard cash payments are still holding a dominating share. Most retail payments, especially in developing countries were made using hard cash. High share of hard cash in the global payment market will lead to aa high demand from bank notes. The growing global bank note market is expected to increase the demand for currency security paper, which is made using mixtures of two or more materials such as cotton and linen. Technavio's analysts have predicted that the security paper market will register a CAGR of almost 3% by 2022.

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Market Overview
Growing global bank note market
The circulation of high denomination currency notes in a country is expected to drive the demand for security. This because governments can at any time, annul and replace such currency with new bank notes. The high domination currency is holding a major share in the overall currency circulation.
Rising global e- passport market
Illegal immigration and trans- border crimes are the key factors driving the global e- passports market. In addition, e- passports ensure quick security checks and verification of induvial at airports and international airports.
For the detailed list of factors that will drive and challenge the growth of the security paper market during the 2018-2022, view our report.

Competitive Landscape
The global security paper market is fairly fragmented and as the market is in a growth phase, the competition among companies is intense. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

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