QYResearchReports.com recently released a market study called "Global Banknotes Design and Currency Printing Market Size, Status and Forecast 2022." The study offers an in-depth analysis of the growing trends in Banknote Printing market using historical and current data. Competitive dynamics are also discussed to help stakeholders take important decisions.
The report states that banknotes should not be all about beautiful designs and engraving. It also has to be easily recognizable by different kinds of machines. Banknotes also need to have better security features to prevent counterfeiting.
Banknote production requires various processes like conceptualizing, papermaking and printing using different techniques. New techniques such as micro-optics are being adopted by Banknote printing companies to increase security levels. These companies are also looking for working partners who can develop these security features effectively.
The global market for banknotes can be broadly classified as design and currency printing. Based on end use or application, it can be categorised as offset lithography, intaglio, and letterpress.
The EU, the U.S., Japan, India, China, and Southeast Asia are the leaders when it comes to banknote design and printing. India had a huge demand for new banknotes after some notes were suddenly demonetized in November 2016. There is also a need for constant printing of currency notes and replacing old worn out notes with better ones.
The research suggests that the central banks of nations and not private companies are the key players in the market. Many of these banks are studied in detail. Production methodology, techniques, and security features applied by these banks are studied well.