32.5 F
Washington
HomeIndustriesBanknote Market size to grow by USD 1.90 billion from 2023 to...

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

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

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.

Download free sample report to get more insights on the market share of various regions and contribution of the segments.

  • 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.

Technavio Research experts has provided more insights on the market share of segments – View Free Sample Report

Related Reports:
Cryptocurrency Market: The Global Cryptocurrency Market size is estimated to grow at a CAGR of 15.81% between 2022 and 2027. The market size is forecast to increase by USD 1,815.78 million.

Currency Counting Machine Market: The currency counting machine market is estimated to grow at a CAGR of 14.61% between 2022 and 2027. The size of the market is forecast to increase by USD 625.77 million.

TOC:

  1. Executive Summary
  2. Market Landscape
  3. Market Sizing
  4. Historic Market Size
  5. Five Forces Analysis
  6. Market Segmentation by Type
  7. Market Segmentation by Application
  8. Customer Landscape
  9. Geographic Landscape
  10. Drivers, Challenges, and Trends
  11. Vendor Landscape
  12. Vendor Analysis
  13. Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact US:

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/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-302008903.html
Images courtesy of https://pixabay.com

- Part of VUGA -marketing agency

latest articles

gossip tv free

explore more

free fashion tv