Banknote Market size to grow by USD 1.90 billion from 2023 to 2028 | Market is fragmented due to the presence of prominent companies like BNB Printing House AD, Bureau of Engraving and Printing, and CCL Industries Inc., many more

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Dec 08, 2023, 13:15 ET

NEW YORK, Dec. 8, 2023 /PRNewswire/ -- The Banknote Market is estimated to grow by USD 1.90 billion from 2023 to 2028, growing at a CAGR of 4.46%. The banknote market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer banknote market are BNB Printing House AD, Bureau of Engraving and Printing, CCL Industries Inc., Central Engraving and Printing Plant, China Banknote Printing and Minting Group Co. Ltd., Crane Holdings Co., De La Rue PLC, FNMT RCM, Giesecke Devrient GmbH, Hong Kong Note Printing Ltd., Joint Stock Co. Goznak, National Printing Bureau, Note Printing Australia Ltd., Orell Fussli AG, Reserve Bank of India, Security Papers Ltd., Security Printing and Minting Corp. Of India Ltd., SPS TechnoScreen GmbH, The Security Printing Corp. Bangladesh Ltd., and Valora S.A. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying

Technavio has announced its latest market research report titled Global Banknote Market 2024-2028

Company Offering:

CCL Industries Inc.: The company offers banknotes such as polymer banknotes through its subsidiary CCL Secure.
For details on companies and their offerings – Buy report

The APAC region is projected to contribute around 67% to the global market's growth within the forecast period. APAC maintains its dominance in the global market due to a substantial demand for banknotes from its sizable population. The growth of banknotes is notably influenced by the prevalence of cash-based economies like India. Moreover, several countries within APAC choose to print their banknotes externally, with the China Banknote Printing and Minting Corp. playing a significant role as one of Asia's major banknote producers. Notably, through China's Belt and Road Initiative initiated in 2013, various countries including Thailand, Bangladesh, Sri Lanka, Malaysia, Pakistan, and Nepal have entrusted their security printing needs to China, resulting in substantial cost savings. This strategic move is set to drive market growth within China during the forecast period.

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Impactful driver- Rise in financial inclusion
Key Trend - Increased focus of countries to outsource printing of currencies
Major Challenges - The increasing use of cryptocurrencies

Exploring the Fascinating World of Banknotes: Numismatics, Collectibles, and Investment Trends

Banknotes, also known as paper money, hold a significant place in the realm of numismatics and collectibles. The artistry and intricacies of banknote design, coupled with advanced security features, define the allure of these collectible pieces. Minting and printing technology play significant roles in crafting central bank notes, especially rare and historical banknotes that captivate collectors and enthusiasts alike. Among the innovations, polymer banknotes have emerged as a modern trend, offering durability and enhanced security in the world of paper money.

Investing in world banknotes, particularly those with high banknote grading, has become a notable trend in the banknote market. Collectors often seek circulated or uncirculated banknotes, eyeing investment-grade options for their portfolios. Authentication methods are crucial in determining the value and authenticity of currency, making currency exchange and banknote auctions key events in the numismatic world. Numismatic events, attended by currency dealers and enthusiasts, offer opportunities for banknote cataloging and discovery of unique pieces, including banknote paper made of special materials like gold.

The world of currency and paper money is a treasure trove for enthusiasts engaged in numismatics and collecting rare banknotes. The meticulous banknote design, complemented by sophisticated security features, represents an intricate blend of art and technology. The minting process, aided by advanced printing technology, results in the creation of central bank notes, including unique historical and rare banknotes that captivate collectors' attention. Polymer banknotes have revolutionized the landscape of world banknotes, offering durability and enhanced security features. Exploring the nuances of banknote grading, from circulated to uncirculated and investment-grade banknotes, provides insights into banknote market trends. Authentication methods are pivotal in currency exchange and banknote auctions, attracting currency dealers and enthusiasts to numismatic events focused on banknote cataloging and the discovery of exceptional pieces, such as banknote paper crafted with precious materials like gold. Within this world of world banknotes and paper money, each note carries its unique history and significance, making it a sought-after collectible among passionate enthusiasts.

Market Segmentation

The anticipated market share growth within the state-owned segment is expected to be significant during the forecast period. Typically, banknotes are printed by state-owned printers, also known as state print works (SPWs), in the countries that issue them. Due to concerns surrounding national security, many nations opt to rely on SPWs for banknote production. For instance, prior to 1877, several private firms were responsible for printing most US banknotes. However, by March 1877, the US market's exclusive responsibility for banknote printing was assumed by the Bureau of Printing and Engraving.

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TOC:

Executive Summary
Market Landscape
Market Sizing
Historic Market Size
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Customer Landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix

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