Plastic Card Materials Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Material Type (Polyvinyl Chloride (PVC), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate-Glycol (PETG), Others), By Type of Card (Contact Cards, Contactless Cards, Multi-Component Cards), By Application (BFSI, Healthcare, Retail, Government, O
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPlastic Card Materials Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Material Type (Polyvinyl Chloride (PVC), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate-Glycol (PETG), Others), By Type of Card (Contact Cards, Contactless Cards, Multi-Component Cards), By Application (BFSI, Healthcare, Retail, Government, O
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 612.35 million |
| CAGR (2023-2028) | 6.33% |
| Fastest Growing Segment | Polyvinyl Chloride (PVC) |
| Largest Market | Asia Pacific |
Market Overview
Key Market Drivers
Expansion in Financial Services and Banking Sector
Rise of E-Commerce and Cashless Transactions
Growing Demand of Plastic Card Materials Market in Tourism and Hospitality Industry
Key Market Challenges
Security and Fraud Prevention
Key Market Trends
Growing Adoption of Sustainable Material
Segmental Insights
Material Type Insights
Type of Card Insights
Regional Insights
Recent Developments
- In May 2022, Eastman Chemical Company, a global leader in specialty
chemicals, announced an Accelerated Share Repurchase (ASR) deal with Mizuho
Markets Worldwide LLC and Wells Fargo, NA. This strategic move represents a
significant milestone for Eastman as it advances towards its ambitious goal of
repurchasing upwards of $1 billion of shares by 2022. With approximately $750
million already completed in the second period, Eastman's commitment to enhancing
shareholder value is evident.
- In August 2020, Onyx Center Source Company, a prominent player in the
United States hospitality and travel industry, introduced an innovative
solution to optimize payment management. The company unveiled a cutting-edge
virtual smart credit card tailored specifically for its clients in the
hospitality and travel sector. This groundbreaking technology empowers
organizations to closely manage and restrict card usage, bolstering security
measures while ensuring first contact resolution and minimizing customer
complaints. These recent developments highlight the constant drive for
innovation and improvement within these industry leaders, as they strive to
deliver enhanced value and customer satisfaction in their respective domains.
- In 2023, Mastercard, a global leader in payment solutions, embarked on
an ambitious and commendable project aimed at tackling the mounting
environmental issue of credit and debit card waste. With billions of cards in
circulation worldwide, the company recognized the need to prevent these cards
from ending up in landfills. To kickstart this initiative, Mastercard forged a
strategic partnership with HSBC Holdings Plc, a renowned London-based financial
services group. Initially implemented in eight HSBC branches across Britain,
the project gained significant traction and positive reception.
- Building on this success, Mastercard recently announced its plan to
provide state-of-the-art shredding machines to HSBC capable of holding up to
10,000 cards or 50 kilograms (110 pounds) of plastic. Once these machines reach
full capacity, the shredded cards will be efficiently transported to a
dedicated plastic recycling facility. Excitingly, Mastercard is extending an
invitation to banks worldwide to join this groundbreaking program. Recognizing
that several banks have already launched their own local initiatives, the
company aims to foster a global coalition of financial institutions committed
to sustainable card recycling. By taking this bold step, Mastercard and its partners
are not only demonstrating their commitment to environmental stewardship but
also setting an inspiring example for the entire industry. Through concerted
efforts and innovative solutions, they are paving the way for a greener future,
where the circular economy becomes the norm and waste reduction is at the
forefront of business practices.
Key Market Players
- Eastman Chemical Company
- PetroChina Company Limited
- Solvay S.A.
- KEM ONE
- SABIC
- 3A Composites GmbH
- Teijin Limited
- LG Chem
- BASF SE
- Westlake Chemical Corporation.
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By Material
Type |
By Type of Card |
By Application |
By Region |
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