Middle East and Africa Smart Card Material Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material (Polyvinyl Chloride (PVC), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate-Glycol (PETG), and Othe

Middle East and Africa Smart Card Material Market Forecast to 2028 - COVID-19 Impact and Regional 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) 

The smart card material market in MEA is expected to grow from US$ 54.97 million in 2021 to US$ 72.44 million by 2028; it is estimated to grow at a CAGR of 4.0% from 2021 to 2028.

There is a growing focus on making smart card from more renewable resources. Many companies across the region are focusing on developing a new product that contains less plastic. Bio-based plastic material is a new and emerging subset of conventional plastic for producing smart cards. LUC-BIO is one such material which is a green form of PVC developed to meet the growing demand for green products. Universal Smart Cards Inc. produces smart cards using this material. One major manufacturer has created radio-frequency identification (RFID) cards and smart cards with bio-based materials. The end use industries are demanding for the smart cards made of biodegradable materials to maintain the eco-sustainability of their products and to comply with the nation’s guidelines. Thus, the increasing focus on the development of bio-based material would emerge as a trend in the smart card materials market during the forecast period.

In the Middle East and Africa region, South Africa is among the major countries with a high number of COVID-19 confirmed cases and deaths. The COVID-19 pandemic has had a severe impact on the economy of the Middle East & Africa. The pandemic has significantly slowed down the growth of the smart card materials market in the region due to negative impacts upon the growth of various industries. The COVID-19 pandemic has impacted the retail and hospitality industry. As a result of lockdowns and stay-at-home orders, the customer footprints has been reduced. The demand for smart card materials in the region will depend upon the evolution of the epidemic, vaccination plans, and economic recovery.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the smart card material market. The MEA smart card material market is expected to grow at a good CAGR during the forecast period.

MEA Smart Card Material Market Revenue and Forecast to 2028 (US$ Million)

MEA Smart Card Material Market Segmentation

MEA Smart Card Material Market - by Material

Polyvinyl Chloride (PVC) Polycarbonate (PC) Acrylonitrile Butadiene Styrene (ABS) Polyethylene Terephthalate-Glycol (PETG) Others MEA Smart Card Material Market - by Type

Contact Cards Contactless Cards Multi-Component Cards MEA Smart Card Material Market - by Application

BFSI Government Telecommunication Retail Healthcare Hospitality Others MEA Lymphedema Treatment Market - by Country

South Africa Saudi Arabia UAE Rest of MEAMEA Lymphedema Treatment Market - Companies Mentioned

3A Composites Gmb H BASF SE Eastman Chemical Company LG Chem SABIC Solvay S.A. Teijin Limited Westlake Chemical Corporation

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