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Smart Card Materials Market 2018 Trends and Global Foresight to 2025

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.

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.


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.

To Know More About Smart Card Materials Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/smart-card-materials-market

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 fulfil requirements of end users. Manufacturing of smart cards can be distinguished based on application and technical/physical properties required.

Top Players of Smart Card Materials Market:

Key players include SK Chemicals, KEM One, SABIC Innovative Plastics, 3A Composites GmbH, LG Chemicals, and Formosa Plastics Group.

Market Segmentation of Smart Card Materials Market:

The Global Smart Card Materials Market segmented on the basis of Material, Type, Application, and Region.

By Material:

    Polyvinyl Chloride (PVC)
    Polycarbonate (PC)
    Acrylonitrile Butadiene Styrene (ABS)
    Polyethylene Terephthalate-Glycol (PETG)

By Type:

    Contact Cards
    Contactless Cards
    Multi-Component Cards

By Application:

    BFSI
    Government
    Telecommunication
    Retail
    Healthcare
    Hospitality

Inquire about Smart Card Materials Market with Our Experts @ https://www.grandviewresearch.com/inquiry/5305
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