Telecommunication Segment to Dominate SAM Smart Card Material Market during 2021–2028

According to a new market research study on “SAM Smart Card Material Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material, Type and Application” is expected to reach US$ 136.40 million by 2028 from US$ 106.46 million in 2021. The market is estimated to grow at a CAGR of 3.6% from 2021 to 2028. The report provides trends prevailing in the SAM smart card material market along with the drivers and restraints pertaining to the market growth. Significant growth in telecommunication and healthcare industry is the major factor driving the growth of the SAM smart card material market. However, harmful effects of plastic materials like PVC and PC hinders the growth of SAM smart card material market.     

The SAM smart card material market is segmented by material, type, application, and country. Based on material, SAM smart card material market is segmented into polyvinyl chloride (PVC), polycarbonate (PC), acrylonitrile butadiene styrene (ABS), polyethylene terephthalate-glycol (PETG), and others. The polyvinyl chloride (PVC) segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on type, SAM smart card material market is segmented into contact cards, contactless cards, and multi-component cards. The contact cards segment dominated the market in 2020 and contactless cards segment is expected to be the fastest growing during the forecast period. Based on application, the SAM smart card material market is segmented into, BFSI, government, telecommunication, retail, healthcare, hospitality, and others. The telecommunication segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on country, SAM smart card material market is classified into Brazil, Argentina, and rest of SAM.

In SAM region, Brazil has the highest number of COVID-19 cases, followed by Argentina, Colombia, Peru, Chile, among others. The governments in SAM have taken an array of actions to protect their citizens and combat the spread of the COVID-19 virus through lockdowns, trade bans, and travel restrictions. This may have an impact on the growth of the smart card materials market. However, the business activities are expected to gradually recover in the coming months as the governments from the region continue to push forward their reopening plan to kick start the economy. 

3A Composites GmbH, BASF SE, Eastman Chemical Company, LG Chem, SABIC, Solvay S.A., Teijin Limited, and Westlake Chemical Corporation are among the leading companies in the SAM smart card material market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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