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Polymer Banknotes Heading Towards Greater Adoption
Date: 10 May 2017

Banknote circulation has been continually growing in all the economies. The circulation of these notes is initially a protective & secretive operation but once it enters the market it is prone to counterfeiting and illegal use. Therefore, to combat this practice which is directly correlated to economic growth, the central banks & governments are heading towards the adoption of polymer banknotes.

 

Polymer notes are made up of substance known as polymer such as biaxial oriented polypropylene. These banknotes have longer life which reduces the cost of production and replacement. Above all, polymer notes are incorporated with special security features and inks which are hard to replicate, thereby helping in tackling the counterfeit note production and corruption.

 

Australia was the first country in 1970’s which started its experimental production of polymer notes, thereafter a lot of countries have switched to these notes. Global polymer notes market growth will be driven by increasing banknote production, better economic outlook, and uncertainty of the financial markets.
Major trends of the market include increasing replacement of old notes and willingness among people to switch to polymer notes. However, growth of the market will be hindered reduced bargaining power, and vulnerability to static built-up in manufacturing process. Also, the competition of the market is concentrated between two firms only.

 

The research report, “Global Polymer Banknotes Market: Industry Analysis & Outlook (2017-2021)” by Koncept Analytics provides an extensive research and detailed analysis of the market performance at present and future outlook of the global market.

 

 
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