Global Smart Card Materials Market, By Material (PVC, PC, ABS, PETG, Others), Type (Contact Cards, Contactless Cards, Multi-Component Cards), Application (BFSI, Government, Telecommunication, Retail, Healthcare, Hospitality, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Smart Card Materials Market
Global Smart Card Materials Market is estimated to rise from its initial estimated value of USD 996.77 million in 2018 to an estimated value of USD 1338.14 million by 2026, registering a CAGR of 3.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the growth in the demand of smart cards.
Market Definition: Global Smart Card Materials Market
Smart card materials are the chemical components that are used for the production of smart cards. These materials are used to manufacture whole of the card body. These materials enable the manufacturers of the cards to print and enhance the strength of their cards. These materials also help in improving the life of these smart cards.
- Growth in adoption of cashless transactions and promotion of usage of smart cards for transactional purposes is expected to be one of the major drivers for the market growth
- Significant demand and growth in application of smart cards from various end-users is expected to be one of the major drivers for the market growth
- Fluctuations in prices of raw materials that is used for the production of materials used in smart cards is expected to restrain the market growth
Segmentation: Global Smart Card Materials Market
- By Material
- Polyvinyl Chloride (PVC)
- Polycarbonate (PC)
- Acrylonitrile Butadiene Styrene (ABS)
- Polyethylene Terephthalate Glycol (PETG)
- Holographic Foil
- Polylactic Acid (PLA)
- By Type
- Contact Cards
- Contactless Cards
- Multi-Component Cards
- By Application
- Banking, Financial Services & Insurance (BFSI)
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In November 2017, CARDIS organized the 16th Smart Card and Advanced Application Conference in Lugano, Switzerland from 13-15th November, 2017.
- In August 2016, Westlake Chemical Corporation announced that they had completed the acquisition of Axiall Corporation, with the acquisition providing Westlake the capabilities of being the second largest producer of PVC in North America region.
Competitive Analysis: Global Smart Card Materials Market
Global smart card materials market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of smart card materials market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Smart Card Materials Market
Few of the major competitors currently working in 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.
Research Methodology: Global Smart Card Materials Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved