Global Banknote Market Report: 2017 Edition
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Banknote is a promissory note which is issued by banks that is payable on demand to the bearer. The production and distribution of new banknotes and destruction of the unfit banknotes is the responsibility of the central bank of the respective countries. The demand for banknotes and substrate is fulfilled by state print works (SPW), state paper mills (SPM) and few commercial print and paper manufacturers. SPWs and SPMs can also turn in to commercial providers to cater the unmet demand for banknotes.
Major factors contributing to the growth of the market include increasing domestic transactions and increasing demand for foreign currencies across different countries. The global financial crisis led to a one-time increase in the demand for these notes, thereby leading to increased market value.
The report "Global Banknote Market" provides a comprehensive study of banknote market globally. It also provides detailed information for key regional markets of banknote industry. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The four major players in the industry, De La Rue plc, Geisecke & Devrient Group and Fortress Paper Ltd. are being profiled.
The key factors driving the growth of banknote market are financial instability of the economy and GDP of the economy. Some of the noteworthy trends and developments of this industry are adoption of polymer banknotes and new banknotes developments. However, the expansion of banknote market is hindered by rise of digital or cashless payment, secured production of banknotes and overcapacity.