San Francisco, 12 November 2018 , The
global smart card materials market size
is expected to reach USD 1.29 billion by 2025, according to a new report by
Grand View Research, Inc., progressing at a CAGR of 3.7% during the forecast
period. Increasing demand for secure and reliable payment transactions is one
of the primary growth stimulants for the market. In addition, cost saving
schemes for merchants of payment brands and growing inclinations towards
cashless payments are further stimulating the growth of the market.
Several
materials, such as polyvinyl chloride (PVC), polycarbonate (PC), acrylonitrile
butadiene styrene (ABS), polyethylene terephthalate glycol (PETG), paper, PVC
& ABS blends, holographic foil, teslin, and biopolymers such as polylactic
acid (PLA), are used for manufacture of card body. In early days, the smart card
industry used paper as one of the preferred materials for production. However,
in the past few years, plastic materials have almost made paper materials
obsolete.
Significant
technological advancements, IT revolution, e-governance, and digitization happening
across the world are leading to an increase in adoption of smart cards in
various end-use sectors. These sectors include banking, financial services and
insurance (BFSI), healthcare, government, retail, telecommunication, and
hospitality. A broad range of smart cards, including membership cards,
government ID cards, gift cards, loyalty cards, access cards, and debit/credit
cards, is used in the aforementioned sectors.
Several
factors such as personalization, selection of material, operational accuracy,
data integrity, easy implementation, and top-level security are taken into
consideration while manufacturing smart cards in order to fulfill requirements
of end users. Manufacturing of smart cards can be distinguished based on
application and technical/physical properties required.
Full Research Report On Smart Card Materials Market Analysis:
www.grandviewresearch.com/industry-analysis/smart-card-materials-market
www.grandviewresearch.com/industry-analysis/smart-card-materials-market
Further key findings from the report suggest:
·
Polycarbonate is projected to emerge as the
fastest growing material segment and is expected to register a CAGR of 4.4%
between 2018 and 2025
·
The polyvinyl carbonate (PVC) segment will
continue to be the largest material segment over the forecast period
·
The Asia Pacific market is projected to
experience the fastest growth over the same period owing to rising demand from
various application sectors, especially from telecommunication and BFSI.
·
Key players include SK Chemicals, KEM One,
SABIC Innovative Plastics, 3A Composites GmbH, LG Chemicals, and Formosa
Plastics Group.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the
global smart card materials market on the basis of material, type, application,
and region:
Smart Card Material
Outlook (Revenue, USD Million; 2014 - 2025)
·
Polyvinyl Chloride (PVC)
·
Polycarbonate (PC)
·
Acrylonitrile Butadiene Styrene (ABS)
·
Polyethylene Terephthalate-Glycol (PETG)
·
Others
Smart Card
Materials Type Outlook (Revenue, USD Million, 2014 - 2025)
·
Contact Cards
·
Contactless Cards
·
Multi-Component Cards
Smart Card
Materials Application Outlook (Revenue, USD Million, 2014 - 2025)
·
BFSI
·
Government
·
Telecommunication
·
Retail
·
Healthcare
·
Hospitality
·
Others
Smart Card
Materials Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
U.K.
o
France
·
Asia Pacific
o
China
o
India
o
Japan
·
Central & South America
o
Brazil
·
Middle East & Africa
o
Saudi Arabia
o
South Africa
o
U.A.E.
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-smart-card-materials-market
www.grandviewresearch.com/press-release/global-smart-card-materials-market
About Grand View Research
Grand View Research, Inc.
is a U.S. based market research and consulting company, registered in the State
of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/
