Asia-Pacific: Magnetic Card Market 2024

Magnetic Card Market Size in Asia-Pacific

In 2021, the Asia-Pacific magnetic card market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a abrupt slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Magnetic Card Production in Asia-Pacific

In value terms, magnetic card production rose modestly to $X in 2021 estimated in export price. Overall, production, however, saw a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of 64% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Magnetic Card Exports

Exports in Asia-Pacific

For the third consecutive year, Asia-Pacific recorded decline in overseas shipments of cards incorporating a magnetic stripe, which decreased by -12.1% to X units in 2021. In general, exports recorded a perceptible descent. The pace of growth appeared the most rapid in 2013 with an increase of 6.8% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, magnetic card exports reduced remarkably to $X in 2021. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 39%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, resulting at X units, which was approx. 79% of total exports in 2021. It was distantly followed by Australia (X units), generating a 7.8% share of total exports. The following exporters - Thailand (X units), South Korea (X units), Hong Kong SAR (X units) and India (X units) - together made up 9.7% of total exports.

Exports from China increased at an average annual rate of +2.8% from 2012 to 2021. At the same time, Australia (+32.7%) and South Korea (+31.8%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +32.7% from 2012-2021. India experienced a relatively flat trend pattern. By contrast, Thailand (-17.9%) and Hong Kong SAR (-23.4%) illustrated a downward trend over the same period. China (+36 p.p.), Australia (+7.4 p.p.) and South Korea (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Hong Kong SAR saw its share reduced by -9.5% and -16.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest magnetic card supplier in Asia-Pacific, comprising 50% of total exports. The second position in the ranking was held by Australia ($X), with a 23% share of total exports. It was followed by South Korea, with a 5.8% share.

In China, magnetic card exports expanded at an average annual rate of +7.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (+32.9% per year) and South Korea (+42.3% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, which is down by -13.5% against the previous year. In general, the export price continues to indicate a pronounced decline. The growth pace was the most rapid in 2014 when the export price increased by 40% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.8%), while the other leaders experienced more modest paces of growth.

Magnetic Card Imports

Imports in Asia-Pacific

In 2021, the amount of cards incorporating a magnetic stripe imported in Asia-Pacific rose remarkably to X units, picking up by 9.7% on the previous year's figure. Overall, imports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 67%. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, magnetic card imports contracted to $X in 2021. Over the period under review, imports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2017 when imports increased by 122% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Pakistan prevails in imports structure, amounting to X units, which was near 91% of total imports in 2021. Australia (X units) held a relatively small share of total imports.

Pakistan was also the fastest-growing in terms of the cards incorporating a magnetic stripe imports, with a CAGR of +21.6% from 2012 to 2021. Australia (-5.2%) illustrated a downward trend over the same period. While the share of Pakistan (+48 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Australia (-12.1 p.p.) displayed negative dynamics.

In value terms, the largest magnetic card importing markets in Asia-Pacific were Australia ($X) and Pakistan ($X).

Among the main importing countries, Pakistan, with a CAGR of +24.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to less than $X per unit, with a decrease of -22.4% against the previous year. In general, the import price showed a abrupt slump. The most prominent rate of growth was recorded in 2013 an increase of 61% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Australia ($X per unit), while Pakistan totaled less than $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+2.4%).

Source: IndexBox Platform

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