Plastic Card Materials Market Size and Trends 2028

Summary

Report Description

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

Global Plastic Card Materials Market has valued at USD 612.35 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.33% through 2028. Plastic cards, commonly used across various sectors such as government, banking, transportation, financial services, and healthcare, play a crucial role in authentication and identification. These cards provide authorized access to secure premises, ensuring data security and confidentiality. The plastic card market is experiencing significant growth, driven by the increasing use of plastic cards in banks and SIM cards among the global population.

The growing acceptance of cashless payment options, coupled with the widespread adoption of modern banking operations, commercial transactions, and other payments worldwide, further accelerates the market growth. Moreover, the penetration of smartphones, which make technological applications more accessible to users, and the surge in government initiatives to promote digitization, contribute to the market expansion. In addition, the expanding banking sector, the rise in secure and reliable payment transactions across various industries, and the increasing focus on e-payments positively impact the plastic cards market. Furthermore, advancements in smart cards present lucrative opportunities for market players in the forecast period, ensuring continued growth and innovation in this evolving industry.

Key Market Drivers

Expansion in Financial Services and Banking Sector

The financial services and banking sector, as a key player in the payment landscape, holds a pivotal role in shaping the way we make transactions. With the increasing reliance on electronic payments, plastic cards have emerged as a favored method of payment among consumers. To facilitate seamless and secure transactions, banks, and financial institutions issue millions of plastic cards worldwide. The demand for plastic card materials is driven by the expanding financial services sector and the growing consumer preference for digital payments.

Furthermore, the expansion of the banking sector, particularly in emerging economies, has led to a significant increase in bank account penetration. As more individuals gain access to banking services, the demand for plastic cards, including debit and prepaid cards, continues to rise. These cards offer customers the convenience of withdrawing cash, making purchases, and accessing various financial services. The surge in bank account penetration directly contributes to the growth of the plastic card materials market.

To enhance customer experiences and drive operational efficiency, the financial services and banking sector consistently embraces technological advancements. This includes the introduction of contactless payment options, biometric authentication, and mobile payment solutions. These innovations require materials that meet stringent security standards while providing durability and functionality. As a result, the demand for advanced plastic card materials capable of supporting these technological developments is fueled by the expansion of the financial services sector. In response to evolving consumer demands, the banking industry strives to offer various card options with added benefits, rewards programs, and enhanced security features.

Consumers now expect convenience and flexibility in their financial transactions, further driving the adoption of plastic cards. Financial institutions understand the importance of meeting these expectations and continue to cater to the evolving needs of consumers. As a result, the demand for plastic card materials, such as PVC plastics, continues to grow. In summary, the financial services and banking sector significantly influences the payment landscape. The growing preference for electronic transactions and the expansion of banking services worldwide have led to an increased demand for plastic card materials. Technological advancements and evolving consumer expectations further contribute to the growth of the plastic card materials market. The convenience, security, and flexibility offered by plastic cards make them a popular choice among consumers, driving the continuous demand for advanced plastic card materials.

Rise of E-Commerce and Cashless Transactions

The proliferation of e-commerce platforms has brought about a revolution in the retail industry, completely transforming the way consumers shop. With the convenience of online shopping, people can now browse and purchase products from the comfort of their own homes, eliminating the need to visit physical stores. This shift in consumer behavior has paved the way for the rise of online retailers, marketplaces, and digital payment providers. In the digital realm of e-commerce, plastic cards have become indispensable tools for seamless and secure transactions. Whether it's debit cards, credit cards, or prepaid cards, these plastic payment methods have become the primary choice for online shoppers. As the demand for e-commerce continues to surge, so does the demand for plastic card materials.

Financial institutions are issuing millions of plastic cards to customers, ensuring their active participation in the cashless economy. Furthermore, the global adoption of cashless transactions has gained widespread acceptance due to the remarkable convenience, security, and speed they offer. Plastic cards, including debit, credit, and prepaid cards, play a critical role in enabling these digital payment methods. As consumers increasingly embrace the ease and security of digital payments, the demand for plastic cards continues to rise. The growth of the plastic card materials market has been further accelerated by the advent of contactless payment technology and mobile wallets. Contactless payment options, such as near field communication (NFC) technology, allow users to make quick and secure transactions by simply tapping their cards or smartphones at point-of-sale terminals. This seamless experience has led to an increase in the issuance of plastic cards embedded with contactless chips, driving the demand for advanced plastic card materials.

To address concerns about security, plastic card materials have evolved to incorporate advanced features like EMV (Europay, Mastercard, and Visa) chips and biometric authentication. These security measures provide an added layer of protection, reducing the risk of fraud and unauthorized transactions. As consumers demand more secure payment methods, financial institutions are issuing plastic cards equipped with these advanced security features, thus boosting the demand for plastic card materials that can accommodate these technological advancements.

Growing Demand of Plastic Card Materials Market in Tourism and Hospitality Industry

Plastic cards have become the primary choice for hotel key cards, offering guests a secure and convenient way to access their rooms. These cards have gradually replaced the traditional metal keys, ensuring both guest safety and ease of use. With millions of plastic key cards issued by hotels annually, the demand for plastic card materials has skyrocketed. This surge in demand is fueled by the continuous growth of the tourism and hospitality industry, which shows no signs of slowing down.

In addition to their use as hotel key cards, plastic cards find widespread application in loyalty and rewards programs offered by tourism and hospitality companies. These programs allow guests to accumulate points, receive special discounts, and enjoy exclusive benefits during their stays. Plastic card materials, embedded with magnetic stripes or smart chips, facilitate the seamless operation of these programs. As the industry increasingly adopts these loyalty and rewards programs, the demand for plastic card materials continues to rise, supporting their market growth.

Another emerging trend in the tourism industry is the growing popularity of prepaid travel cards. These cards function similarly to debit or credit cards and enable travelers to load funds in various currencies. This not only offers convenience but also enhances security when making purchases abroad. Plastic card materials are used in the production of these prepaid travel cards, catering to the needs of international tourists and business travelers. The rising demand for prepaid travel cards further drives the growth of the plastic card materials market in the tourism industry.

Furthermore, the integration of contactless payment solutions has revolutionized the way transactions are conducted in the tourism and hospitality industry. Plastic card materials with embedded contactless chips enable guests to make quick and secure transactions at various points of sale within hotels, restaurants, and other establishments. This shift towards contactless payment solutions not only enhances guest convenience but also reduces transactional friction. As a result, there is a growing demand for advanced plastic card materials that support contactless payments, further expanding the market for plastic cards in the tourism industry. With these various applications and the continuous evolution of the tourism and hospitality industry, the demand for plastic card materials is expected to witness significant growth in the foreseeable future. The versatility and reliability of plastic cards make them an indispensable part of the industry, ensuring seamless experiences for both guests and businesses alike.

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Key Market Challenges

Security and Fraud Prevention

Counterfeiting remains a significant concern in the plastic card materials market. Fraudsters strive to produce counterfeit cards that closely resemble genuine ones, posing challenges in detecting fraudulent activities. Effective authentication features, such as holograms, security inks, microprinting, and UV-visible elements, play a crucial role in thwarting counterfeiting attempts. It is imperative to continuously develop innovative security features to stay one step ahead of counterfeiters.

Data breaches present a grave security threat to plastic cards. Cybercriminals target financial institutions, merchants, and payment processors in their quest for unauthorized access to sensitive cardholder data. These breaches can lead to the compromise of card information, resulting in fraudulent transactions and financial losses. Implementing robust data protection measures, including encryption and secure data storage protocols, is of utmost importance to prevent data breaches and safeguard cardholder information.

Key Market Trends

Growing Adoption of Sustainable Material

The increasing awareness of the environmental impact caused by plastic materials has led to a surge in demand for sustainable alternatives. Plastic pollution, carbon emissions, and waste management have emerged as significant concerns for individuals, businesses, and governments alike. As a result, there is a growing consumer preference for products, including plastic cards, that are manufactured using sustainable materials. This heightened awareness is fueling the adoption of alternative materials in the plastic card materials market.

Advancements in sustainable materials have enabled the development of alternative options for plastic card production. Materials such as bioplastics, recycled plastics, plant-based polymers, and other renewable resources are being actively explored as viable substitutes for traditional PVC plastics. These sustainable materials offer comparable durability and functionality, while simultaneously mitigating the environmental impact associated with plastic card manufacturing.

Segmental Insights

Material Type Insights

Based on the category of material type, the Polyvinyl Chloride (PVC) segment emerged as the dominant player in the global market for Plastic Card Materials Market in 2022. Over the last many years, PVC has emerged as the most preferred material for the production of smart cards. Known as a thermoplastic polymer, PVC offers a wide range of advantages due to its excellent chemical, mechanical, and thermal properties. It is commonly used in the form of films to manufacture various types of cards. However, despite its popularity, PVC does have some drawbacks that have led to a shift towards polycarbonate (PC) material. Polycarbonate offers several advantageous properties that surpass those of PVC. These include high-temperature resistance, low shrinkage, an excellent printable surface, a lifespan of over ten years, and exceptional optical properties. This transition from PVC to polycarbonate material not only addresses the limitations of PVC but also provides enhanced durability, longevity, and overall performance for smart cards.

Type of Card Insights

The Contact Cards segment is projected to experience rapid growth during the forecast period. The multi-component type of smart card is capable of processing complex calculations and storing a vast amount of information that can be utilized in both contact and contactless cards. This advanced feature not only enables faster processing speed but also significantly reduces transaction time, making it highly advantageous for various sectors including banking, financial services, and insurance (BFSI), telecommunication, retail, and healthcare. In fact, the multi-component segment of smart cards was valued at USD 155.8 million in 2017, and its growth is expected to be substantial over the forecast period. With its remarkable capabilities and potential for widespread adoption, the multi-component smart card is poised to revolutionize the way we interact and transact in the digital age.

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Regional Insights

Asia Pacific emerged as the dominant player in the Global Plastic Card Materials Market in 2022, holding the largest market share in terms of both value and volume. The growth of the Asia Pacific region can be attributed to the rising adoption of digital services in emerging economies such as China and India. In recent times, there has been a significant increase in the use of various smart card products, including debit/credit cards, gift cards, and ID recognition cards, in this region. These smart card products are not only transforming the way financial transactions are conducted but also enhancing security and convenience for users.

The booming end-use industries of smart cards, driven by the digitalization of operations and the spiraling use of mobile phones, are further escalating the growth of the market in the Asia Pacific. As more businesses and consumers embrace digital payment solutions, the adoption of smart card products, such as SIM cards, is experiencing a notable surge. This trend is providing a significant push to the market in the region, as it enables seamless connectivity and secure access to various services. In summary, the Asia Pacific region is witnessing a remarkable growth trajectory in the smart card market, fueled by the increasing adoption of digital services, advancements in technology, and the growing demand for secure and convenient payment solutions.

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.

By Material Type	By Type of Card	By Application	By Region
Polyvinyl Chloride (PVC) Polycarbonate (PC) Acrylonitrile Butadiene Styrene (ABS) Polyethylene Terephthalate-Glycol (PETG) Others	Contact Cards Contactless Cards Multi-Component Cards	BFSI Healthcare Retail Government Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Plastic Card Materials Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Plastic Card Materials Market, By Material Type:

o Polyvinyl Chloride (PVC)

o Polycarbonate (PC)

o Acrylonitrile Butadiene Styrene (ABS)

o Polyethylene Terephthalate-Glycol (PETG)

o Others

Plastic Card Materials Market, By Type of Card:

o Contact Cards

o Contactless Cards

o Multi-Component Cards

Plastic Card Materials Market, By Application:

o BFSI

o Healthcare

o Retail

o Government

o Others

Plastic Card Materials Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

o Asia-Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

§ Kuwait

§ Turkey

§ Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Plastic Card Materials Market.

Available Customizations:

Global Plastic Card Materials Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Plastic Card Materials Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Impact of COVID-19 on Global Plastic Card Materials Market

5. Voice of Customer

6. Global Plastic Card Materials Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value & Volume

6.2. Market Share & Forecast

6.2.1. By Material Type (Polyvinyl Chloride (PVC), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate-Glycol (PETG), Others)

6.2.2. By Type of Card (Contact Cards, Contactless Cards, Multi-Component Cards)

6.2.3. By Application (BFSI, Healthcare, Retail, Government, Others)

6.2.4. By Region

6.2.5. By Company (2022)

6.3. Market Map

7. North America Plastic Card Materials Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value & Volume

7.2. Market Share & Forecast

7.2.1. By Material Type

7.2.2. By Type of Card

7.2.3. By Application

7.2.4. By Country

7.3. North America: Country Analysis

7.3.1. United States Plastic Card Materials Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value & Volume

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Material Type

7.3.1.2.2. By Type of Card

7.3.1.2.3. By Application

7.3.2. Mexico Plastic Card Materials Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value & Volume

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Material Type

7.3.2.2.2. By Type of Card

7.3.2.2.3. By Application

7.3.3. Canada Plastic Card Materials Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value & Volume

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Material Type

7.3.3.2.2. By Type of Card

7.3.3.2.3. By Application

8. Europe Plastic Card Materials Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value & Volume

8.2. Market Share & Forecast

8.2.1. By Material Type

8.2.2. By Type of Card

8.2.3. By Application

8.2.4. By Country

8.3. Europe: Country Analysis

8.3.1. France Plastic Card Materials Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value & Volume

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Material Type

8.3.1.2.2. By Type of Card

8.3.1.2.3. By Application

8.3.2. Germany Plastic Card Materials Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value & Volume

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Material Type

8.3.2.2.2. By Type of Card

8.3.2.2.3. By Application

8.3.3. United Kingdom Plastic Card Materials Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value & Volume

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Material Type

8.3.3.2.2. By Type of Card

8.3.3.2.3. By Application

8.3.4. Italy Plastic Card Materials Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value & Volume

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Material Type

8.3.4.2.2. By Type of Card

8.3.4.2.3. By Application

8.3.5. Spain Plastic Card Materials Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value & Volume

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Material Type

8.3.5.2.2. By Type of Card

8.3.5.2.3. By Application

9. Asia-Pacific Plastic Card Materials Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value & Volume

9.2. Market Share & Forecast

9.2.1. By Material Type

9.2.2. By Type of Card

9.2.3. By Application

9.2.4. By Country

9.3. Asia-Pacific: Country Analysis

9.3.1. China Plastic Card Materials Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value & Volume

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Material Type

9.3.1.2.2. By Type of Card

9.3.1.2.3. By Application

9.3.2. India Plastic Card Materials Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value & Volume

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Material Type

9.3.2.2.2. By Type of Card

9.3.2.2.3. By Application

9.3.3. South Korea Plastic Card Materials Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value & Volume

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Material Type

9.3.3.2.2. By Type of Card

9.3.3.2.3. By Application

9.3.4. Japan Plastic Card Materials Market Outlook

9.3.4.1. Market Size & Forecast

9.3.4.1.1. By Value & Volume

9.3.4.2. Market Share & Forecast

9.3.4.2.1. By Material Type

9.3.4.2.2. By Type of Card

9.3.4.2.3. By Application

9.3.5. Australia Plastic Card Materials Market Outlook

9.3.5.1. Market Size & Forecast

9.3.5.1.1. By Value & Volume

9.3.5.2. Market Share & Forecast

9.3.5.2.1. By Material Type

9.3.5.2.2. By Type of Card

9.3.5.2.3. By Application

10. South America Plastic Card Materials Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value & Volume

10.2. Market Share & Forecast

10.2.1. By Material Type

10.2.2. By Type of Card

10.2.3. By Application

10.2.4. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Plastic Card Materials Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value & Volume

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Material Type

10.3.1.2.2. By Type of Card

10.3.1.2.3. By Application

10.3.2. Argentina Plastic Card Materials Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value & Volume

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Material Type

10.3.2.2.2. By Type of Card

10.3.2.2.3. By Application

10.3.3. Colombia Plastic Card Materials Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value & Volume

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Material Type

10.3.3.2.2. By Type of Card

10.3.3.2.3. By Application

11. Middle East and Africa Plastic Card Materials Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value & Volume

11.2. Market Share & Forecast

11.2.1. By Material Type

11.2.2. By Type of Card

11.2.3. By Application

11.2.4. By Country

11.3. MEA: Country Analysis

11.3.1. South Africa Plastic Card Materials Market Outlook

11.3.1.1. Market Size & Forecast

11.3.1.1.1. By Value & Volume

11.3.1.2. Market Share & Forecast

11.3.1.2.1. By Material Type

11.3.1.2.2. By Type of Card

11.3.1.2.3. By Application

11.3.2. Saudi Arabia Plastic Card Materials Market Outlook

11.3.2.1. Market Size & Forecast

11.3.2.1.1. By Value & Volume

11.3.2.2. Market Share & Forecast

11.3.2.2.1. By Material Type

11.3.2.2.2. By Type of Card

11.3.2.2.3. By Application

11.3.3. UAE Plastic Card Materials Market Outlook

11.3.3.1. Market Size & Forecast

11.3.3.1.1. By Value & Volume

11.3.3.2. Market Share & Forecast

11.3.3.2.1. By Material Type

11.3.3.2.2. By Type of Card

11.3.3.2.3. By Application

12. Market Dynamics

12.1. Drivers

12.2. Challenges

13. Market Trends & Developments

14. Competitive Landscape

14.1. Eastman Chemical Company

14.1.1. Business Overview

14.1.2. Product Offerings

14.1.3. Recent Developments

14.1.4. Financials (In Case of Listed Companies)

14.1.5. Key Personnel

14.2. PetroChina Company Limited

14.3. Solvay S.A.

14.4. KEM ONE

14.5. SABIC

14.6. 3A Composites GmbH

14.7. Teijin Limited

14.8. LG Chem

14.9. BASF SE

14.10. Westlake Chemical Corporation.

15. Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Plastic Card Materials Market in 2022?

The market size of the Global Plastic Card Materials Market was estimated to be USD 612.35 million in 2022.

Which was the dominant segment By Material Type in the Global Plastic Card Materials Market in 2022?

The Polyvinyl Chloride (PVC) material type segment demonstrated significant dominance in 2022. PVC offers exceptional printability, enabling the application of vibrant colors and high-resolution graphics to plastic cards. Whether it's company logos, cardholder information, or intricate designs, PVC provides a smooth surface for precise and sharp printing. This characteristic enhances the visual appeal of plastic cards, augmenting their attractiveness to users.

Which is the dominant region in the Global Plastic Card Materials Market?

Asia Pacific dominated the market with a revenue share in 2022. Numerous countries in the Asia Pacific region are faced with substantial unbanked or underbanked populations. Plastic cards offer a convenient and secure method for accessing financial services, playing a crucial role in advancing financial inclusion. Governments and financial institutions are actively collaborating to broaden access to banking services, thereby fueling the demand for plastic cards in the region.

What are the major drivers for the Global Plastic Card Materials Market?

Rise in the demand for Plastic Card Materials Market in financial services and banking sector are the major drivers for the Global Plastic Card Materials Market.

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Press Release

Plastic card materials Market to Grow with a CAGR of 6.33% through 2028

Sep, 2023

Growing demand of plastic card materials in manufacturing of retail and healthcare industry is expected to drive the Global Plastic Card Materials Market growth in the forecast period, 2024-2028.

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