Market Size in 2023 | Market Forecast in 2032 | Growth Rate (in %) | Base Year |
---|---|---|---|
USD 1,594.88 Million | USD 2,411.29 Million | CAGR at 4.70% | 2023 |
According to the report published by Zion Market Research, The Global Rewritable PVC Cards market was valued at USD 1,594.88 Million in 2023 and is predicted to reach USD 2,411.29 M?illion by the end of 2032. The market is expected to grow with a CAGR of 4.70% during the forecast period.
This study provides an analysis of the growth drivers, growth restrictions, and influence on demand that are associated with the Global Rewritable PVC Cards market the time of forecasting. Additionally, it will assist in navigating and investigating the possibilities that are becoming available in the Rewritable PVC Cards market.
The rewritable PVC cards are commonly used for the making of credit and debit cards, access cards, identification cards, membership cards, and much more. Producing the cards with the use of PVC enables durability and longevity. The rewritable PVC cards are ideal for applications that are time-sensitive or change often.
A blank rewritable card has a layer of thermosensitive material which is applied over the substrate as a plastic layer. The commonly used substrates are PET for (0.25mm) 10 mil cards and PVC for (0.76mm) 30 mil cards. The PVC cards can be added with contactless chips and magnetic stripes in order to support the advanced applications.
The global market for rewritable PVC cards is fragmented into its application and the end-user industry.
On the basis of application, the global market is segregated into membership cards, ID cards, business cards, and others.
On the basis of the end-user industry, the market is categorized into entertainment, hospitality, and safety & security.
The key factor that is driving the rewritable PVC card market is its increased use in shopping cards, ID proof, and others. In order to eliminate the risk of carrying cash, there has been an increase in the use of rewritable PVC cards. These rewritable PVC cards are linked to the single account of the user and can be recharged whenever necessary; thus, these cards are good to use and are accepted everywhere. Another factor that is driving growth of the market is the increasing admissions in schools and universities, as rewritable PVC cards are also used in the making of ID cards.
There has been a growth in the large official infrastructures and the real estate, which increases the requirement for security and safety, thus increasing the demand for the rewritable PVC cards as they are utilized in creating various types of exit and entry passes. In the developing and the underdeveloped regions, the consumers do not have knowledge about all these technologies, thus limiting the growth of the market.
A healthy growth of the rewritable PVC card market is expected in the North American region owing to the increase in the adoption rate of rewritable PVC cards. Furthermore, in the North American region, there are constant technological changes and innovations being carried out for the development of rewritable PVC cards so that they become more efficient and user-friendly. The region that holds the second position in the market is Western Europe, owing to the wide adoption of this technology in order to meet several requirements. The market is developing at a significant rate in Eastern Europe and the Asia-Pacific region.
Report Attributes | Report Details |
---|---|
Report Name | Rewritable PVC Cards Market Research Report |
Market Size in 2023 | USD 1,594.88 Million |
Market Forecast in 2032 | USD 2,411.29 Million |
Growth Rate | CAGR of 4.70% |
Number of Pages | 201 |
Key Companies Covered | ID Card Group, AlphaCard, and Shenzhen Smart One Technology Company Limited, among others,. |
Segments Covered | By Application, By End-User Industry Type, and By Region |
Regions Covered | Latin America, North America, Asia Pacific, Europe, The Middle East, And Africa |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Customized purchase options are available to meet your exact research needs. Request For Customization |
The key market players that are involved in the rewritable PVC cards market include
By Application
By End-User Industry
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