Smart Card Material Market Analysis, Size, and Share by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

Smart Card Material Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material [Polyvinyl Chloride (PVC), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate-Glycol (PETG), and Others]; Type (Contact Cards, Contactless Cards, and Multi-Component Cards); and Application (BFSI, Government, Telecommunication, Retail, Healthcare, Hospitality, and Others)

Report Date : Jan 2022
Report Code : TIPRE00026860

Category : Chemicals and Materials
Status : Published

Available Report Formats :
No. of Pages : 173

Also Available in :

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Page Updated: Jun 2024

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The smart card material market is projected to reach US$ 1,837.78 million by 2028 from US$ 1324.57 million in 2021; it is expected to grow at a CAGR of 4.8% from 2021 to 2028.

A smart card, a type of chip card, is a plastic card that contains an embedded computer chip either a memory or microprocessor type which stores and transacts data. This data is usually associated with either value or information, or both, which is stored and processed within the chip. Smart card materials refer to chemical materials that are utilized in the manufacturing of these cards. These materials support the embedding and printing of information over them.

In 2020, Asia Pacific held the largest share of the global smart card material market. The demand for smart card materials in this region is increasing due to the growing use of smart cards in the telecommunications sector. Additionally, the rising globalization trend; and the proliferating banking, financial services, and insurance (BFSI) industry are key factors favoring the smart card material market growth in the region.

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Smart Card Material Market: Strategic Insights

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Impact of COVID-19 Pandemic on Smart Card Material Market

The ongoing COVID-19 pandemic has drastically altered the status of the chemical and materials sector and impacted the growth of the smart card materials market.The significant decline in the performances of several industrial sectors has impacted the demand for smart card materials. The impact of the pandemic varies across the different application segments. A surge in the data traffic and voice services has benefitted many telecom players, including broadband and mobile data center operators. However, the lockdown measures imposed by governments disturbed the supply chains of raw materials such as PVS, ABS, and PETG required for smart card manufacturing. The disease spread has adversely affected the operations in the government and BFSI sectors. However, as the economies are planning to revive their operations, the demand for smart card materials is expected to rise globally in the coming years.

Market Insights

Significant Growth in Telecommunications and Healthcare Sectors

Smart cards are extensively used in the telecommunications sector. The most prominent use of smart cards in this sector is in the form of subscriber identity module (SIM) cards or universal integrated circuit cards (UICC). These smart cards are manufactured mostly from polyvinyl chloride (PVC) and acrylonitrile butadiene styrene (ABS) materials. The smart card technology used in applications in this sector has undergone continuous advancements in the last several years, which has boosted the consumption of these cards. Further, healthcare organizations across the world are implementing smart health cards with a wide range of features and applications.

Smart Card Material Market Regional Insights

The regional trends and factors influencing the Smart Card Material Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Smart Card Material Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Smart Card Material Market Report Scope

Report Attribute	Details
Market size in 2021	US$ 1.32 Billion
Market Size by 2028	US$ 1.84 Billion
Global CAGR (2021 - 2028)	4.8%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Material Polyvinyl Chloride Polycarbonate Acrylonitrile Butadiene Styrene Polyethylene Terephthalate-Glycol By Type Contact Cards Contactless Cards Multi-Component Cards By Application BFSI Government Telecommunication Retail Healthcare Hospitality
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Eastman Chemical Company PetroChina Company Limited Solvay S.A. KEM ONE SABIC 3A Composites GmbH Teijin Limited LG Chem BASF SE

Smart Card Material Market Players Density: Understanding Its Impact on Business Dynamics

The Smart Card Material Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Get the Smart Card Material Market top key players overview

Application Insights

Based on application, the smart card material market is segmented into BFSI, government, telecommunication, retail, healthcare, hospitality, and others. The telecommunications segment held the largest share of the smart card material marketin 2020. Smart card is used as prepaid (stored value memory cards) telephone cards and microprocessor smart card-based SIM cards or UICC in mobile phones. The most selling smart card products in this sector are SIM and UICC, in terms of volume and value.

A few of the players operating in the global smart card material market include Eastman Chemical Company, PetroChina Company Limited, Solvay S.A., KEM ONE, SABIC, 3A Composites GmbH, Teijin Limited, LG Chem, BASF SE, and Westlake Chemical Corporation.

Report Spotlights

Progressive industry trends in the smart card material market to help players develop effective long-term strategies
Business growth strategies adopted by companies operating in developed and developing markets
Quantitative analysis of the smart card material market from 2019 to 2028
Estimation of global demand for smart card materials
Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
Recent developments to understand the competitive market scenario
Market trends and outlook as well as factors driving and restraining the growth of the smart card material market
Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the smart card material marketgrowth
The size of the smart card material market size at various nodes
Detailed overview and segmentation of the market, as well as the smart card material industry dynamics
Size of the smart card material market in various regions with promising growth opportunities

Smart Card Material Market

By Material

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

By Type

Contact Cards
Contactless Cards
Multi-Component Cards

By Application

BFSI
Government
Telecommunication
Retail
Healthcare
Hospitality
Others

Company Profiles

Eastman Chemical Company
PetroChina Company Limited
Solvay S.A.
KEM ONE
SABIC
3A Composites GmbH
Teijin Limited
LG Chem
BASF SE
Westlake Chemical Corporation

Frequently Asked Questions

Based on type, which segment is the fastest growing segment in the global smart card material market?

The contactless cards segment is the fastest growing segment in the global smart card material market during the forecasted period. Contactless cards are the smart cards with contactless credentials and have a size like credit cards or debit cards. The market for the contactless cards segment is growing due to its various benefits.

Based on application, which segment is leading the global smart card material market during the forecast period?

The telecommunication segment held the largest share of the market in 2021. In the telecommunication industry, smart cards are used in two primary applications. Firstly, it is used as prepaid (stored value memory cards) telephone cards and as the microprocessor smart card-based subscriber identity module (SIM) or universal integrated circuit card (UICC) in mobile phones.

Based on type, which segment is leading the global smart card material market during the forecast period?

The contact cards segment held the largest share of the market in 2021. Contact cards are the smart cards that have a size like conventional debit and credit card. Contact smart card contains a single, embedded, and integrated circuit chip that consists of either memory or memory plus microprocessor.

Based on material, which segment is leading the global smart card material market during the forecast period?

The polyvinyl chloride segment held the largest share of the global smart card material market in 2021. Polyvinyl chloride is the most common and strong plastic material used for card manufacturing. The material is used for contact and contactless cards.

Can you list some of the major players operating in the global smart card material market?

The major players operating in the global smart card material market are Eastman Chemical Company; PetroChina Company Limited; Solvay S.A.; KEM ONE; SABIC; 3A Composites GmbH; Teijin Limited; LG Chem; BASF SE; and Westlake Chemical Corporation; among others.

Which region held the largest share of the global smart card material market?

In 2021, Asia Pacific held the largest share of the global smart card material market. The major factor driving the smart card materials market in the Asia Pacific region is the increasing use of smart cards in various applications such as government, transportation, retail, and education sectors.

Research Manager

Habi Ummer

Manager,
Market Research & Consulting

Habi is a seasoned Market Research Analyst with 8 years of experience specializing in the Chemicals and Materials sector, with additional expertise in the Food & Beverages and Consumer Goods industries. He is a Chemical Engineer from Vishwakarma Institute of Technology (VIT) and has developed deep domain knowledge across industrial and specialty chemicals, paints and coatings, paper and packaging, lubricants, and consumer products. Habi’s core competencies include market sizing and forecasting, competitive benchmarking, trend analysis, client engagement, report writing, and team coordination—making him adept at delivering actionable insights and supporting strategic decision-making.

What are the Smart Card Material Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Smart Card Material Market Report Snapshots

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