Global Smart Card Materials Market is Expected to Register a Healthy CAGR in the Forecast Period of 2019 to 2026

According to Data Bridge Market Research new Market report, global smart card materials market will account to an estimated USD 996.77 million in 2018 growing at a CAGR of 3.75% during the forecast period of 2019 to 2026.

Global Smart Card Materials Market

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Global Smart Card Materials Market:

Smart card materials can be termed as the chemical components/materials that are utilized as a base material in the production of smart cards. These materials are employed due to their tendency of being durable and enhancing the strength and endurance levels of products they are used in without being too expensive or heavy-weight.

Segmentation: Global Smart Card Materials Market

Global smart card materials market is segmented on the basis of material, type, application and geography.

By Material (PVC, PC, ABS, PETG, Others), Type (Contact Cards, Contactless Cards, Multi-Component Cards), Application (BFSI, Government, Telecommunication, Retail, Healthcare, Hospitality, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)

FACTORS DRIVING GROWTH IN SMART CARD MATERIALS MARKET

Rise in usage of smart cards

According to United Nations Statistics Division; the units/numbers of smart electronic cards demand have been raised globally which has been a driving factor for the growth of smart card materials. Growth in demand of smart cards is expected to directly affect the market for smart card materials due to their requirement in production of smart cards.

Global Smart Card Materials Market

Key Market Competitors: Global Smart Card Materials Market

Few of the major competitors currently working in the smart card materials market are Eastman Chemical Company, SK chemicals, PetroChina Company Limited, Solvay, Westlake Chemical Corporation, SABIC, Koninklijke DSM N.V., TEIJIN LIMITED, LG Chem, Formosa Plastics Corporation, BASF SE, 3M, and DuPont.

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