Published On : 08 Jan 2018
A recently added market study by QYResearchReports.com, titled “Global Banknotes Design and Currency Printing Market Size, Status and Forecast 2022,” provides an in-depth analysis of the market replete with detailed descriptions of factors proving tailwinds and headwinds to the market and other noticeable trends. It banks upon historical and current data to understand its size, ever-evolving landscape, and growth path going forward. It also throws light on the competitive dynamics of the market so as to empower stakeholders take crucial decisions.
The report states that even though the outward appearance of banknotes should be engaging and appealing, they are more than just aesthetics and beautiful engraving. It adds that they have to be easily recognizable, be identified by a number of machines, and generate a sense of security. Yet another important characteristic – they cannot not be easily counterfeited.
Banknote design and currency printing requires a fair bit of ingenuity since a number of criteria have to be kept in mind. Various steps have to be followed methodically, ranging from conceptualizing the design to papermaking and printing using different techniques. Besides an appealing design, extra care also needs to be taken of the security features.
Manufacturing companies in the global market for banknotes design and currency printing are leveraging various new techniques such as micro-optics for safety.
A noticeable trend in the market is the rising interest of central banks in various nations about the design of banknotes and awareness about the various security technologies, thereby generating a need for working partners who can combine these security features effectively. This often translates into to a solid partnership with the design process all the way through to the final production of the notes.
The global market for banknotes design and currency printing can be broadly segmented into banknote design and currency printing. Similarly, by end use or application, the market can be divided into offset lithography, intaglio, and letterpress.
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The key regions in the global market for banknotes design and currency printing are the EU, the U.S., Japan, India, China, and Southeast Asia. Among them, India recently saw a growth in the market on account of the sudden demonetization drive of its current government, whereby high denomination notes were banned from the market in November 2016. Subsequently, the government issued new notes over the course of the next few months. All such activities are having a positive impact on the market.
Besides, constant printing of currency notes and replacing old worn out ones with better ones are also having a positive impact on the market for banknotes design and currency printing.
Interestingly enough, some of the key players in the global market for banknotes design and currency printing are not private companies but apex banks of nations. A few of them studied in details in the report are Federal Reserve (the U.S.), Bank of Japan, Banco de Mexico, European Central Bank, People’s Bank of China, Reserve Bank of Australia, Bank of Canada, Banco Central do Brasil, Central Bank of Russia, and Reserve Bank of India. The report brings to the fore their methodology and techniques. It tries to understand the special security features in the notes produced by these banks which protects them from counterfeiting.
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