GCC: Magnetic Card Market 2025

Magnetic Card Market Size in GCC

In 2021, the GCC magnetic card market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Magnetic Card Production in GCC

In value terms, magnetic card production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 107% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Magnetic Card Exports

Exports in GCC

In 2021, approx. X units of cards incorporating a magnetic stripe were exported in GCC; dropping by -61.7% on 2020 figures. In general, exports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 194% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, magnetic card exports reduced slightly to $X in 2021. Overall, exports recorded a pronounced reduction. The pace of growth was the most pronounced in 2015 with an increase of 47%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the key exporting country with an export of around X units, which reached 85% of total exports. It was distantly followed by Saudi Arabia (X units), creating a 15% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the cards incorporating a magnetic stripe exports, with a CAGR of -24.3% from 2012 to 2021. Saudi Arabia (-25.4%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-1.9 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest magnetic card supplier in GCC, comprising 96% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 4.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates totaled -1.6%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, picking up by 152% against the previous year. Overall, the export price recorded a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+29.9%).

Magnetic Card Imports

Imports in GCC

Magnetic card imports expanded remarkably to X units in 2021, with an increase of 7.2% on the previous year. Over the period under review, imports, however, showed a pronounced decrease. The pace of growth appeared the most rapid in 2014 when imports increased by 152%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, magnetic card imports dropped sharply to $X in 2021. Overall, imports, however, saw a deep contraction. The growth pace was the most rapid in 2013 with an increase of 160% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the key importer of cards incorporating a magnetic stripe in GCC, with the volume of imports finishing at X units, which was near 75% of total imports in 2021. Kuwait (X units) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (4.5%).

From 2012 to 2021, average annual rates of growth with regard to magnetic card imports into the United Arab Emirates stood at +4.4%. At the same time, Qatar (+4.8%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +4.8% from 2012-2021. By contrast, Kuwait (-10.6%) illustrated a downward trend over the same period. The United Arab Emirates (+34 p.p.) and Qatar (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait saw its share reduced by -23.8% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported cards incorporating a magnetic stripe in GCC, comprising 80% of total imports. The second position in the ranking was taken by Qatar ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates totaled +7.5%. In the other countries, the average annual rates were as follows: Qatar (-3.2% per year) and Kuwait (-20.7% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, reducing by -23.2% against the previous year. In general, the import price showed a noticeable decrease. The pace of growth was the most pronounced in 2015 when the import price increased by 103%. Over the period under review, import prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform