Global Smart Card Materials Market, By Type (Contact Cards, Contactless Cards and Multi-Component Cards), Material (Polyvinyl Chloride (PVC), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate Glycol (PETG) and Others), Application (Transportation, BFSI, Telecommunication, Retail, Healthcare, Hospitality and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Smart Card Materials Market
With the world entering into the digitization era, the smart card materials market without a doubt is expected to witness a rise in the market value. Currently standing at the market value of USD 1,061.5 million the market is expected to exhibit a market value of USD 1,365.7 million by the year 2028. This means that the smart card materials market will undergo a CAGR of 3.2% for the forecast period of 2021-2028.
A smart card is a card that has a chip embedded in it that holds crucial information about the owner of the card. It is a pocket size card that is majorly used for identification and financial transactions. A smart card has an imbedded microprocessor and is of plastic in nature. Smart card materials refer to the chemical materials that are used in manufacturing a smart card. These chemicals enable the manufacturers to embed and print information over it. These chemicals enable the manufacturers to play with the strength quality of the card as well.
The characteristics of a smart card such as faster and secured exchange of information, protection of an individual’s personal information, easy transactional interface etc. are enabling the smart card materials market to propel. Also, rising demand from the telecommunication sector for smart card will enable the market to witness a spurt growth throughout the forecast period. Moreover with the widening scope for applications for a smart card, the smart card materials market is getting more and more push every day. Developing countries like India shifting to digital market has further done nothing but boosted the market drastically.
Fluctuation in the prices of raw materials that are used as chemicals to manufacture the smart cards is the biggest market growth restraining factor. Threats like fraudulent activities and security-related issues are other factors that may come in the way of smart card materials market from growing.
This smart card materials market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart card materials market, contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Card Materials Market Scope and Market Size
The smart card materials market is segmented on the basis of type, material and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the smart card materials market is segmented into contact cards, contactless cards and multi-component cards.
- The smart card materials market can also be segmented into polyvinyl chloride (PVC), polycarbonate (PC), acrylonitrile butadiene styrene (ABS), polyethylene terephthalate glycol (PETG) and others on the basis of type of material. Others include paper, holographic foil, teslin and polulactic acid (PLA).
- On the basis of application, the smart card materials market is segmented into transportation, BFSI, telecommunication, retail, healthcare, hospitality and others.
Smart Card Materials Market Country Level Analysis
Smart card materials market is analysed and market size, volume information is provided by country, type, material and application as referenced above.
The countries covered in the smart card materials market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Currently, North America holds the largest chunk in the market share and is expected to grow at the same rate. The reason is a well-established smart card usage system where the economy is becoming cashless and high level of technology in the region. Asia-pacific region is to witness the fastest growth rate in the smart card materials market for the forecast period. This is because of the high economic development of the region along with the increased demand for smart cards in the region.
The country section of the smart card materials market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Card Materials Market Share Analysis
Smart card materials market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart card materials market.
The major players covered in the smart card materials market report are Eastman Chemical Company or its subsidiaries., PetroChina Company Limited,, Solvay, Westlake Chemical Corporation, Teijin Aramid B.V., LG Chem., BASF SE, Formosa Chemicals & Fibre Corp., SABIC, 3M, DuPont., Universal Smart Cards Limited., KEM ONE, UBIVELOX Inc, Nitecrest., JMN Infotech Pvt. Ltd., Akme Cards Private Limited., Rudra Enterprises., Bars And Waves Technologies. and Brigade Prints. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
SKU-