Tag: Polycarbonate

Smart Card Materials Market Worth $1.29 Billion By 2025

The global smart card materials market size is expected to reach USD 1.29 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 3.7% during the forecast period. Increasing demand for secure and reliable payment transactions is one of the primary growth stimulants for the market. In addition, cost saving schemes for merchants of payment brands and growing inclinations towards cashless payments are further stimulating the growth of the market.

Several materials, such as polyvinyl chloride (PVC), polycarbonate (PC), acrylonitrile butadiene styrene (ABS), polyethylene terephthalate glycol (PETG), paper, PVC & ABS blends, holographic foil, teslin, and biopolymers such as polylactic acid (PLA), are used for manufacture of card body. In early days, the smart card industry used paper as one of the preferred materials for production. However, in the past few years, plastic materials have almost made paper materials obsolete.

Significant technological advancements, IT revolution, e-governance, and digitization happening across the world are leading to an increase in adoption of smart cards in various end-use sectors. These sectors include banking, financial services and insurance (BFSI), healthcare, government, retail, telecommunication, and hospitality. A broad range of smart cards, including membership cards, government ID cards, gift cards, loyalty cards, access cards, and debit/credit cards, is used in the aforementioned sectors.

Several factors such as personalization, selection of material, operational accuracy, data integrity, easy implementation, and top-level security are taken into consideration while manufacturing smart cards in order to fulfill requirements of end users. Manufacturing of smart cards can be distinguished based on application and technical/physical properties required.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-card-materials-market

Further key findings from the report suggest:

  • Polycarbonate is projected to emerge as the fastest growing material segment and is expected to register a CAGR of 4.4% between 2018 and 2025
  • The polyvinyl carbonate (PVC) segment will continue to be the largest material segment over the forecast period
  • The Asia Pacific market is projected to experience the fastest growth over the same period owing to rising demand from various application sectors, especially from telecommunication and BFSI.
  • Key players include SK Chemicals, KEM One, SABIC Innovative Plastics, 3A Composites GmbH, LG Chemicals, and Formosa Plastics Group.

Isosorbide Market Size Worth $703.1 Million By 2025

The global isosorbide market size is expected to reach USD 703.1 million by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 8.5% during the forecast period. Rising health and environmental concerns regarding use of synthetic products, such as petroleum derived products, is estimated to fuel demand over the coming years.

Rising capacity of bio-based plastics in Asia Pacific, strong regulatory support for bio-based products, and stable demand from additives industry are the factors estimated to boost product demand in future. However, isosorbide made from starch is an eco-friendly option to synthetic polymers and this is a key trend estimated to continue influencing demand over the next few years.

Traditionally, Asia Pacific emerged as a dominant regional market owing to low raw material and labor cost. In addition, growing focus of the chemical industry on bio-based products is estimated to fuel market growth over the forecast period. Moreover, isosorbide has been identified as an emerging bio-based platform chemical by the U.S. Department of Energy.

Major chemical companies such as Mitsubishi Chemicals and SK Chemicals have been focusing on production of polymers based on isosorbide. Further, market players are concentrating on expansion of business across the globe to gain high market share in the global industry. Extensive R&D in the field and requirement to develop product differentiation leads to high levels of competition in the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/isosorbide-industry

Further key Findings from the Study Suggest:

  • The PEIT segment dominated overall market in 2018 and is estimated to expand at a CAGR of 9.7% in the projected period owing to enhanced heat resilience
  • Polyurethane and PIS are the fastest growing applications and are projected to exhibit a CAGR of 7.9% and 8.8% respectively owing to properties like low polydispersity, high thermal stability, and glass transition temperature
  • Resins and polymers remained the leading end-use industry owing to increasing interest of polymer industries in bio-based products and the presence of key manufacturers
  • Additives are estimated to expand at the fastest pace with a revenue-based CAGR of 9.2% over the forecast period owing to strict policy regarding toxic nature of BPA and rising concern regarding toxic impacts of synthetic chemicals along with commercialization of bio-based isosorbide
  • France-based Roquette has been investing heavily in developing and commercializing isosorbide on a large scale and also tied up with Mitsubishi Chemicals to manufacture polycarbonate using isosorbide.