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Global Banknote Market Report ----------------------------------------2014
View Report Details Executive Summary
The global banknote industry has come a long way since the first fully printed paper money appeared in the middle of 19th century. Today, the industry is characterized by a constant that is change. This industry continues to be shaped and driven forth by regular developments in technologies highlighted by innovations primarily focusing on delivering newer security features to take on the industry’s dominant threat: counterfeiting. Newer banknotes embodies a range of security features including 3D security ribbons, watermarks, security threads, portrait modifications and micro printing among others. To take the battle against counterfeiting a step further, countries across the world are increasingly turning towards basing their currencies on polymer substrate rather than the conventional paper substrate. Some are also experimenting with what can be called a hybrid substrate, consisting of the best features and abilities of both the substrates. Countries that have adopted polymer substrates have significantly reduced the risk of encountering counterfeit banknotes in their respective economies, notably New Zealand, Australia and Switzerland, although none reported the ride to be smooth. Money supply in an economy is affected by a number of factors both at the macro level as well as at the micro level. Major macro factors influencing the amount of money in circulation include GDP, demography, and inflation; whereas the micro-level factors are user friendliness and safety, etc. Although there seems to be a rapid emergence of other modes of payment (including plastic money and electronic payment methods) aided by increasing penetration of internet and rising prosperity across the globe, but none can match the convenience and scale of the traditional mode of payment, i.e. cash which is keeping the industry afloat. The following report contains the analysis of the banknote market on a global scale discussing its major segments and also provides detailed information regarding the key regional markets. Key market dynamics, including trends and industry developments have also been presented. The competition in the global banknote market is intense with few large players viz. De La Rue, Geisecke & Devrient (G&D) and Fortress Paper. In addition, global competitive landscape along with the profiles and key business strategies of the leading players in the market is discussed.
The global banknote market remains robust buoyed by factors working at both macro and micro level… In 2013, the global banknote issuance reached … billion notes, an increase of …% over 2012 which is expected to rise further towards … billion notes by 2014.
Global Banknote Issuance (2009-2014E)
Billion Notes
The global banknote market is largely accounted for by its State Print Works (SPW) segment which occupies …% of the market. The other two segments, Overspill from SPWs and Commercial Print Market contributes …% and …% respectively. In terms of manufacturing material, the global banknote market is dominated by High Specification Paper which accounts for …% of the market. The other two materials, i.e. Basic Paper and Polymer, contribute …% and …% respectively.
2009
2010
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2013
Global Banknote Industry by Segment
State Print Works (SPW) Overspill from SPWs Commercial Print Market
2014E
For the second quarter of 2014, the US dollar’s share in the official foreign exchange reserves stood at …% followed by Euro’s …%. The Pound Sterling and Japanese Yen each held a share of …% during the same period. Global Banknote Manufacturing by Material Segment
High Specification Paper Polymer
Basic Paper
The macro factors include economic growth level, demography and inflation among others… US Currency Notes Production (2005-2013)
Billion Notes
In 2013, the US printed approximately … billion notes. Against the previous year, this quantum of printed notes stands at about …% of the quantity produced in 2012 . In 2013, the Euro Banknote production totaled … billion notes. On a year-on-year basis, the same displayed a slight decline of …%, compared to … billion notes in 2012. . In the 2014 fiscal, around … million British Pound banknotes were produced which represented a decrease of almost …% against … million notes produced in the previous fiscal year. During the year 2013, banknotes in circulation in the US, Eurozone and the UK totaled … billion, … billion and … million respectively.
2005 2006 2007 2008 2009 2010 2011 2012 2013
Euro Banknote Production (2006-August 2014)
Billion Notes
Million Notes
Bank of England Banknotes Production (2006-2014)
2006 2007 2008 2009 2010 2011 2012 20132014-Aug
2006 2007 2008 2009 2010 2011 2012 2013 2014
The micro factors include accessibility, user friendliness, efficiency and safety among others… Number of Counterfeit England Banknotes (2007-H114)
Thousand
In 2013, the number of counterfeit notes in the UK totaled … thousand reflecting a mild decline of …% over 2012. The number of counterfeit notes in New Zealand fell to … per million notes in 2013 from … per million notes in 2012. In 2013, number of counterfeit notes in Switzerland fell by …% to … rom … in 2012. Countries which have introduced polymer banknotes have reported significant fall in the number of counterfeit banknotes including New Zealand and Switzerland,
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2013 2014 H1
Counterfeit Banknotes Detected In New Zealand (2006-2013)
Per Million Notes
Number of Notes
Number of Counterfeit Swiss Banknotes (2006-2013)
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2013
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