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What is the present valuation and projected CAGR of the banknote market?
The banknote market size has grown strongly in recent years. It will grow from $13.15 billion in 2024 to $13.9 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to advancements in printing technology, economic instability, inflation rates, increasing demand for secure currency, the growth of international trade, shifts in government policies, and the expansion of global financial systems.
The banknote market size is expected to see strong growth in the next few years. It will grow to $17.12 billion in 2029 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to advancements in digital payment technologies, evolving consumer preferences for digital currencies, potential regulatory changes, the rise of financial inclusion initiatives, increasing demand for high-security features, and ongoing developments in anti-counterfeiting measures. Major trends in the forecast period include the increasing adoption of polymer banknotes, the growing emphasis on the innovative design of banknotes, the integration of advanced security features, the rising demand for cash-handling automation technologies, and the use of data analytics and AI.
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What key drivers have fueled the banknote market’s development over the years?
The growing cash transactions are expected to propel the growth of the banknote market going forward. A cash transaction is a financial exchange where payment is performed with physical currency, usually coins or banknotes. The increase in cash transactions is due to economic instability, use in the informal economy, security concerns, and small transactions. Banknotes facilitate cash transactions by providing a universally accepted and convenient medium of exchange. For instance, in September 2023, according to UK Finance, a UK-based Business & Finance company, the total number of cash transactions in the UK rose to 6.4 billion in 2022, up from 6.0 billion in 2021. Therefore, the growing cash transactions are driving the growth of the banknote market.
What is the segmentation for the banknote market?
The banknote market covered in this report is segmented –
1) By Type: State-Owned, Commercial
2) By Material: Paper, Polymer
3) By Application: Intaglio Printing, Offset Printing, Letterpress Printing
Subsegments:
1) By State-Owned: National Currency Banknotes, Central Bank-Issued Banknotes, Government-Backed Banknotes
2) By Commercial: Private Bank-Issued Banknotes, Commercial Banknotes (Issued by Private Banks for Local Circulation), Emergency Or Temporary Commercial Banknotes
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Who are the most influential companies in the banknote market?
Major companies operating in the banknote market are Banque de France, Barry-Wehmiller Companies, Giesecke+Devrient GmbH, Bank of Canada, THE ROYAL MINT LIMITED, SICPA HOLDING SA, Bundesdruckerei GmbH, De La Rue plc, Crane Currency, Landqart AG, Note Printing Australia Limited (NPA), Orell Füssli AG, Oberthur Fiduciaire, Hueck Folien GmbH, CCL Secure, Banknote World, Hungarian Banknote Printing Company, Polish Security Printing Works, Arjowiggins Security, Advast Suisse AG, South African Bank Note Company, Tumba Mill
What are the top industry trends projected to impact the banknote market?
Major companies operating in the banknote market are focused on developing advanced products, such as commemorative polymer banknotes, to enhance security features and extend the lifespan of currency. Commemorative polymer banknotes are a type of currency printed on polymer, increasing durability and wear and tear adaptability. These banknotes frequently have unique designs and themes that commemorate historical events, cultural heritage, or influential people, making them usable currency and collector items. For instance, in February 2023, CCL Secure, an Australia-based company that designs and manufactures polymer banknotes, collaborated with Polish Security Printing Works (PWPW), a Poland-based producer of banknotes, to launch Guardian 20 złoty banknote. This innovative 20-złoty banknote incorporates advanced polymer technology, enhancing durability and resistance to wear compared to traditional paper-based currency. A vibrant, intricate design that celebrates Polish heritage and achievements, with high-resolution printing ensuring visual appeal and security. The note also integrates state-of-the-art security elements such as micro printing, color-shifting inks, and embedded holograms, which provide robust protection against counterfeiting.
What are the major regional insights for the banknote market, and which region holds the top position?
North America was the largest region in the banknote market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the banknote market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Banknote Market Report 2025 Offer?
The banknote market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A banknote is a paper currency issued by a central bank or government that serves as a means of exchange. It acts as a physical representation of currency, allowing for the exchange of goods and services. The banknote standardizes and simplifies the monetary exchange process, resulting in a stable and widely accepted medium for economic activities and value storage.
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