Banknotes

Global Banknotes Market to Reach US$9.6 Billion by 2030

The global market for Banknotes estimated at US$8.1 Billion in the year 2024, is expected to reach US$9.6 Billion by 2030, growing at a CAGR of 2.7% over the analysis period 2024-2030. State-Owned Banknote, one of the segments analyzed in the report, is expected to record a 2.6% CAGR and reach US$7.5 Billion by the end of the analysis period. Growth in the Commercial Banknote segment is estimated at 3.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.2 Billion While China is Forecast to Grow at 5.4% CAGR

The Banknotes market in the U.S. is estimated at US$2.2 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2030 trailing a CAGR of 5.4% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.8% and 2.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR.

Banknotes - Key Trends and Drivers

Banknotes are a fundamental aspect of modern economies, serving as the primary medium for physical currency transactions. Originating from promissory notes issued by banks, these paper currencies have evolved significantly in design, security features, and materials used. Traditionally made from cotton or linen fiber paper, banknotes now often incorporate polymer substrates that enhance durability and longevity. The intricate designs and advanced printing techniques used in banknotes not only make them visually appealing but also incorporate numerous security features to prevent counterfeiting. These features include watermarks, security threads, microprinting, holograms, and color-shifting inks, which together help ensure the authenticity and integrity of the currency.

Technological advancements have played a crucial role in the evolution of banknotes, addressing the ongoing challenge of counterfeiting. Modern banknotes incorporate a combination of physical and digital security features that make replication exceedingly difficult. Innovations such as 3D security ribbons, transparent windows, and tactile elements have been introduced to enhance both security and usability. Central banks and monetary authorities continuously invest in research and development to stay ahead of counterfeiters, employing cutting-edge technologies in the design and production of banknotes. Additionally, the transition to polymer banknotes in many countries has not only improved durability but also enabled the inclusion of more sophisticated security features. These advancements ensure that banknotes remain a trusted and reliable form of currency in an increasingly digital world.

The growth in the banknotes market is driven by several factors. The increasing global population and economic growth in emerging markets have led to a higher demand for physical currency. Despite the rise of digital payment methods, cash remains a vital component of everyday transactions, particularly in regions with limited access to banking infrastructure. Technological advancements in banknote security and durability are also driving market growth, as countries seek to modernize their currency to combat counterfeiting and reduce costs associated with replacing damaged notes. Furthermore, the need for new denominations and commemorative issues to mark significant events or anniversaries stimulates production and innovation in the banknote industry. These factors collectively ensure robust growth in the banknotes market, meeting the evolving demands of global economies while maintaining the integrity and trust in physical currency.

SCOPE OF STUDY:

The report analyzes the Banknotes market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (State-Owned Banknote, Commercial Banknote); Technology (Intaglio Printing Technology, Offset Printing Technology, Letterpress Printing Technology)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 86 Featured) -

• Banque de France
• Bundesdruckerei GmbH
• Canadian Bank Note Company, Limited
• CCL Secure Pty Ltd
• Crane & Co., Inc. (dba Crane Currency)
• De La Rue plc
• Fabrica Nacional de Moneda y Timbre - Real Casa de la Moneda (FNMT-RCM)
• Giesecke+Devrient GmbH
• Hong Kong Note Printing Limited
• Joint Stock Company "Goznak"
• National Printing Bureau
• Note Printing Australia Limited
• Orell Füssli AG
• Security Printing and Minting Corporation of India Limited (SPMCIL)
• The Security Printing Corp. Bangladesh Ltd.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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