Asia: Magnetic Card Market 2024

Magnetic Card Market Size in Asia

The Asian magnetic card market reduced to $X in 2022, shrinking by X% against the previous year. In general, consumption continues to indicate a abrupt decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Magnetic Card Production in Asia

In value terms, magnetic card production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Magnetic Card Exports

Exports in Asia

In 2022, the amount of cards incorporating a magnetic stripe exported in Asia totaled X units, picking up by X% compared with 2021. Overall, exports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, magnetic card exports contracted slightly to $X in 2022. In general, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China represented the largest exporter of cards incorporating a magnetic stripe in Asia, with the volume of exports finishing at X units, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), making up a X% share of total exports. The following exporters - Singapore (X units), Thailand (X units), Hong Kong SAR (X units) and Vietnam (X units) - together made up X% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of cards incorporating a magnetic stripe. At the same time, Vietnam (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%), Thailand (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), the United Arab Emirates (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (X p.p.), Singapore (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest magnetic card supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

In China, magnetic card exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, declining by X% against the previous year. Overall, the export price recorded a abrupt contraction. The pace of growth was the most pronounced in 2019 an increase of X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the export price figures.

Magnetic Card Imports

Imports in Asia

In 2022, supplies from abroad of cards incorporating a magnetic stripe decreased by X% to X units, falling for the third consecutive year after five years of growth. Over the period under review, imports showed a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, magnetic card imports declined rapidly to $X in 2022. In general, imports recorded a abrupt slump. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Pakistan (X units), distantly followed by India (X units), Turkey (X units), Jordan (X units), Nepal (X units), Singapore (X units), Vietnam (X units) and Malaysia (X units) were the main importers of cards incorporating a magnetic stripe, together generating X% of total imports. The following importers - Indonesia (X units), Japan (X units), Myanmar (X units), China (X units) and Hong Kong SAR (X units) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nepal (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Jordan ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Malaysia, Indonesia, China, Nepal, Japan, India, Hong Kong SAR, Turkey, Myanmar and Pakistan lagged somewhat behind, together comprising a further X%.

Nepal, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, with an increase of X% against the previous year. Overall, the import price continues to indicate slight growth. Over the period under review, import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while Pakistan (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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