Canada: Magnetic Card Market 2024

Magnetic Card Market Size in Canada

In 2021, the Canadian magnetic card market increased by 23% to $X for the first time since 2016, thus ending a four-year declining trend. Overall, consumption, however, showed a abrupt shrinkage. Magnetic card consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Magnetic Card Production in Canada

In value terms, magnetic card production surged to $X in 2021 estimated in export price. In general, production, however, showed a abrupt contraction. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Magnetic Card Exports

Exports from Canada

In 2021, approx. X units of cards incorporating a magnetic stripe were exported from Canada; with a decrease of -40.3% compared with the year before. Over the period under review, exports faced a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 92%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, magnetic card exports fell dramatically to $X in 2021. In general, exports recorded a abrupt descent. The growth pace was the most rapid in 2017 when exports increased by 61% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for magnetic card exports from Canada, accounting for a 80% share of total exports. Moreover, magnetic card exports to the United States exceeded the volume sent to the second major destination, Cuba (X units), more than tenfold. The third position in this ranking was taken by Malaysia (X units), with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+1.7% per year) and Malaysia (+967.4% per year).

In value terms, the United States ($X) remains the key foreign market for cards incorporating a magnetic stripe exports from Canada, comprising 80% of total exports. The second position in the ranking was taken by Cuba ($X), with a 6.1% share of total exports. It was followed by Malaysia, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+3.2% per year) and Malaysia (+1,026.2% per year).

Export Prices by Country

In 2021, the average magnetic card export price amounted to $X per unit, growing by 26% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Cuba ($X per unit) and India ($X per unit), while the average price for exports to Malaysia ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Magnetic Card Imports

Imports into Canada

In 2021, overseas purchases of cards incorporating a magnetic stripe decreased by -0.6% to X units, falling for the third consecutive year after two years of growth. Over the period under review, imports continue to indicate a pronounced decline. The pace of growth was the most pronounced in 2017 when imports increased by 11% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, magnetic card imports rose to $X in 2021. Overall, imports showed a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 29% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X units) was the main supplier of magnetic card to Canada, with a 96% share of total imports. It was followed by China (X units), with a 1.9% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at -3.3%.

In value terms, the United States ($X) constituted the largest supplier of cards incorporating a magnetic stripe to Canada, comprising 93% of total imports. The second position in the ranking was taken by China ($X), with a 2% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -6.9%.

Import Prices by Country

The average magnetic card import price stood at $X per unit in 2021, growing by 4.7% against the previous year. Over the period under review, the import price, however, recorded a pronounced slump. The pace of growth was the most pronounced in 2018 an increase of 19%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while the price for the United States amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.3%).

Source: IndexBox Platform

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