According to a research report published by Spherical Insights & Consulting, the Global Smart Card Materials Market Size is Expected to Grow from USD 1.43 Billion in 2023 to USD 2.17 Billion by 2033, Growing at a CAGR of 4.25% during the forecast period 2023-2033.

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A specific sort of security mechanism that can be used to store data, verify users, and grant access to systems and services is a smart card. In addition to having a microprocessor and memory that can be utilized to store data, smart cards can be virtual or physical. The market’s main growth drivers are anticipated to be the growing desire for safe and dependable payment transactions as well as the growing trend toward cashless transactions. In the banking, financial services, and insurance (BFSI) industry, where smart cards are utilized for safe access to banking services as well as credit and debit cards, this tendency is especially noticeable. Additionally, these materials are frequently utilized to make subscriber identity modules (SIM) in the telecom sector and universal integrated circuit cards (UICC) in mobile phones. These components are necessary to create cards with high degrees of security that can resist physical damage. Additionally, the incorporation of smart card technology into wearables, smartphones, and mobile devices has increased the smart cards’ range of uses and improved their usability. However, the manufacturing of smart cards necessitates significant financial investments in technology, supplies, and tools. This could limit the market’s growth and prevent new competitors from entering it.

Browse key industry insights spread across 233 pages with 110 Market data tables and figures & charts from the report on the Global Smart Card Materials Market Size, Share, and COVID-19 Impact Analysis, By Material (Polyvinyl Chloride (PVC), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate-Glycol (PETG), and Others), By Type (Contact Cards, Contactless Cards, and Multi-Component Cards), By Application (BFSI, Government, Telecommunication, Retail, Healthcare, Hospitality, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

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The polyethylene terephthalate-glycol (PETG) segment dominates the market with the largest market share through the forecast period.

Based on the material, the global smart card materials market is segmented into polyvinyl chloride (PVC), polycarbonate (PC), acrylonitrile butadiene styrene (ABS), polyethylene terephthalate-glycol (PETG), and others. Among these, the polyethylene terephthalate-glycol (PETG) segment dominates the market with the largest market share through the forecast period. PETG is an eco-friendly option because it is a thermoplastic polymer that is readily recyclable. PETG and other recyclable materials are in high demand as sustainability gains traction in the worldwide market. The expanding focus on shelf-life extension and product safety is another factor contributing to the rising demand.

The contact cards segment is anticipated to grow at the fastest CAGR growth through the forecast period.

Based on the type, the global smart card materials market is segmented into contact cards, contactless cards, and multi-component cards. Among these, the contact cards segment is anticipated to grow at the fastest CAGR growth through the forecast period. These cards are frequently used with credit and debit cards and provide reliable and secure payment methods. The need for enhanced security features like EMV (Europay, MasterCard, and Visa) chips has increased demand for contact cards in this sector. Customers enjoy contact cards because of their price, system compatibility, enhanced security measures, and dependability.

The telecommunication segment accounted for the largest revenue share through the forecast period.

Based on the application, the global smart card materials market is segmented into BFSI, government, telecommunication, retail, healthcare, hospitality, and others. Among these, the telecommunication segment accounted for the largest revenue share through the forecast period. The market has grown as a result of the growing use of SIM cards in mobile devices. The massive number of smart cards created is a result of both the global reach of telecommunications and the need for SIM cards for mobile connectivity. Innovation in smart card materials has been fueled by the advancement of SIM technology, which includes the creation of reprogrammable and embedded SIMs (eSIMs).

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Asia Pacific is estimated to hold the largest share of the smart card materials market over the forecast period.

Asia Pacific is estimated to hold the largest share of the smart card materials market over the forecast period. The accelerated implementation of contactless payment methods. This pattern has persisted, with contactless smart cards now being used for routine transactions in retail, healthcare, and public transit. The desire for better financial transactions has also increased due to technical improvements and the expansion of digital infrastructure. Furthermore, there is a greater need for simple payment methods due to the region’s big population and growing disposable income. The nation’s robust economic growth and fast urbanization have increased consumer demand. Additionally, to improve security and expedite operations, both public and commercial organizations have been progressively using smart card-based systems.

North America is predicted to have the highest CAGR growth in the smart card materials market over the forecast period. The region’s payment and cybersecurity systems, which call for increasingly sophisticated smart card technologies, are to blame for this growth. Additionally, the development of mobile payment systems and digital wallets has spurred market expansion. As contactless payments and advanced fraud prevention become more popular, the U.S. smart card material market is expected to rise significantly over the course of the forecast period. Another important factor has been the widespread use of smart cards in the telecom industry. The demand for safe and dependable SIM cards has increased as the nation keeps developing its mobile network infrastructure.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global smart card materials market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

Major key players in the smart card materials market include Eastman Chemical Company, SK Chemicals, PetroChina Company Limited, Solvay S.A., Axiall Corporation, KEM One, SABIC Innovative Plastics, 3A Composites GmbH, Teijin Ltd., LG Chemicals, Formosa Plastics Group, BASF SE, and Others

Recent Developments

• In June 2024, the Starlight payment card, the first network-certified card with OLED technology, was introduced by IDEMIA to improve contactless payment. Without a battery, this cutting-edge card has an illuminated effect that is powered only by the NFC field. Mastercard and Visa have certified the Starlight card, which complies with ISO standards and accepts contactless payments among other payment options. By redefining payment card aesthetics in response to consumer demand for distinctive card designs, IDEMIA hopes to assist banks and FinTechs in fortifying their relationships with customers in a world that prioritizes digitalization.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the smart card materials market based on the below-mentioned segments:

Global Smart Card Materials Market, By Material

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

Global Smart Card Materials Market, By Type

• Contact Cards
• Contactless Cards
• Multi-Component Cards
• Others

Global Smart Card Materials Market, By Application  

• BFSI
• Government
• Telecommunication
• Retail
• Healthcare
• Hospitality
• Others

Global Smart Card Materials Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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