Cheques in banking have undergone tremendous change. With the advent of digital transactions and digital economy, cheques are slowly becoming irrelevant in banking terms. However, it is safe to assume that cheques will never completely move out of the banking eco-system. In a recent data published by the Reserve Bank of India (RBI) the value of transactions through cheques in proportion to the overall number of transactions have come down to as low as 3 percent. In June 2011, that percentage was as high as 11 percent.

Conventionally, banks used to receive a considerable portion of their fees income by processing cheques. Moreover, providing customer with new cheque books also formed a considerable chunk of bank’s income. However, even now with radical transformation in terms of banking transactions and bank operations as a whole, this phenomenon has not changed. According to the RBI data, in 2012, average number of cheque transaction each month was around 16.53 million. By June 2018, the number increased to around 94.7 million per month on an average.

Digital transactions and digital economy has had its negative impact on the global cheque paper market. The number of increase in the transactions is due to accessibility of banks to more number of people. However, large sections of young generation do not prefer cheque transaction. Thus, the growth of the global cheque paper market is a sluggish one.

In recent years, introduction of new technologies such as OMR (Optical Mark Recognition) and MICR (Magnetic Ink Character Recognition) have helped in changing the fortunes of the global cheque paper market. People still believe in the solidarity and safety of cheques and thus, the fear of them becoming obsolete is baseless. This is one of the key driving factors for the growth of the global cheque paper market.

Global Cheque Paper Market Overview

A cheque paper is a kind of security paper equipped with several security features, such as chemical sensitivity and optical security. Several specifications of the cheque paper are standardized in a country to prevent fraud as well as facilitate the involvement of technology in cheque paper reading and bank processing across the desired geography. Thus, a legal organization is appointed in each country to verify the national standards associated with cheque paper. This has resulted in very less variations in the globally available types and qualities of cheque paper. Globally, cheques differ on the basis of security features and the physical properties for cheque paper standardized across the nation. With increasing consumer convenience due to easy online transactions, the demand for cheque paper is expected to get hampered and the global cheque paper market is expected to witness sluggish growth during the forecast period.

Global Cheque Paper Market Dynamics

MICR (Magnetic Ink Character Recognition) cheque paper is one of the trending developments in the global cheque paper market. These papers allow laser, inkjet and other printing techniques for printing as well as reading of the cheque paper. OCR (Optical Character Recognition) and OMR (Optical Mark Recognition) are the similar technologies which are presently being used for cheque paper and add to the security and automated processing of the cheque paper. Despite rapidly growing online transactions, the demand for cheque paper is expected to get hampered. However, cheque paper is unlikely to become obsolete any time in future. The prominence of cheques lies in the large transactions where only the name of the receiver is required and not complete account details. The above-stated factor will drive the cheque paper market globally.

Global Cheque Paper Market Segmentation

The global cheque paper market can be segmented on the basis of cheque paper form into:

  • Roll
  • Cut Sheets

The global cheque paper market can be segmented on the basis of paper grade into:

  • Up to 90 GSM (Gram per Square Meter)
  • 90 to 100 GSM
  • Above 100 GSM

The global cheque paper market can be segmented on the basis of water-mark into:

  • Water-marked
    • One-tone
    • Two-tone
    • Multi-tone
  • Plain

Global Cheque Paper Market Regional Outlook

All the countries across the globe have appointed legal organizations to handle cheque transactions, such as the Australian Payments Clearing Association (APCA) in Australia, Payments Canada in Canada, Cheque and Credit Clearing Company (C&CCC) in the U.K., Bureau Indian Standards in India and others. Various standards in terms of cheque paper grade, cheque paper size, chemical sensitivity and other physical properties of the cheque paper must follow the standards acknowledged in a country. For instance, in most of the Sub-Sahara African countries, water-marked cheque papers are standardized. In India, the cheque paper must be of 95 GSM grade only. A large number of countries follow the standards specified by CBS1 (Clearing Banks Specification 1). The developed countries of Western Europe and North America region are expected to witness a slight decline in the demand for cheque paper owing to the high penetration of internet users and high literacy rate. Furthermore, initiatives for avoiding the usage of paper to prevent afforestation can also be help responsible for the decline in demand for cheque papers. The current demand for cheque papers is relatively high in emerging countries of Asia Pacific, specifically India, owing to increasing urbanization and government initiatives for opening bank accounts. As majority of the cheque paper books are assigned to the account holder on the time of opening of new account, the demand for cheque paper is highly influenced by the changing bank and government policies.

Global Cheque Paper Market Key Players

Some of the key players in the global cheque paper market are:

  • Century Pulp And Paper
  • Drewsen Spezialpapiere GmbH & Co. KG
  • JK Paper
  • Pudumjee Paper Products
  • Gemini Graaphics Pvt. Ltd.
  • WCPM Limited
  • Pura Group
  • Tullis Russell

The cheque paper market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The cheque paper market report provides in depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The cheque paper market report also maps the qualitative impact of various market factors on market segments and geographies.

Regional analysis of cheque paper market includes:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East & Africa (MEA)

cheque paper market report highlights:

  • A detailed overview of parent market
  • Changing market dynamics in the industry
  • In depth market segmentation
  • Historical, current, and projected market size regarding volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies for key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must have information for market players to sustain and enhance their market footprint 

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period. 

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Cheque Paper Market

Pre Book