Scandinavia: Magnetic Card Market 2024

Magnetic Card Market Size in Scandinavia

In 2021, after two years of growth, there was significant decline in the Scandinavia magnetic card market, when its value decreased by -6.3% to $X. Over the period under review, consumption showed a noticeable shrinkage. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Magnetic Card Production in Scandinavia

In value terms, magnetic card production shrank to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when the production volume increased by 7.3% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Magnetic Card Exports

Exports in Scandinavia

In 2021, shipments abroad of cards incorporating a magnetic stripe increased by 2.2% to X units, rising for the third year in a row after four years of decline. Over the period under review, exports, however, showed a deep setback. The growth pace was the most rapid in 2020 with an increase of 144% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, magnetic card exports declined sharply to $X in 2021. In general, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by 115% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden represented the major exporting country with an export of about X units, which finished at 63% of total exports. It was distantly followed by Denmark (X units), committing a 37% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sweden (with a CAGR of -8.6%).

In value terms, Denmark ($X) and Sweden ($X) were the countries with the highest levels of exports in 2021.

Denmark, with a CAGR of -9.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per unit, waning by -44.8% against the previous year. In general, the export price continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2019 an increase of 18%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Denmark ($X per unit), while Sweden stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+4.7%).

Magnetic Card Imports

Imports in Scandinavia

In 2021, the amount of cards incorporating a magnetic stripe imported in Scandinavia fell to X units, which is down by -7% against 2020. Over the period under review, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2019 when imports increased by 54% against the previous year. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, magnetic card imports dropped slightly to $X in 2021. In general, imports showed a perceptible downturn. The most prominent rate of growth was recorded in 2019 with an increase of 36%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Sweden was the largest importer of cards incorporating a magnetic stripe in Scandinavia, with the volume of imports finishing at X units, which was near 50% of total imports in 2021. Norway (X units) took a 22% share (based on physical terms) of total imports, which put it in second place, followed by Finland (11%), Iceland (9.6%) and Denmark (7.6%).

Sweden experienced a relatively flat trend pattern with regard to volume of imports of cards incorporating a magnetic stripe. At the same time, Iceland (+43.7%) displayed positive paces of growth. Moreover, Iceland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +43.7% from 2012-2021. By contrast, Norway (-9.1%), Finland (-10.4%) and Denmark (-17.7%) illustrated a downward trend over the same period. While the share of Sweden (+21 p.p.) and Iceland (+9.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Finland (-6 p.p.), Norway (-7.4 p.p.) and Denmark (-17.3 p.p.) displayed negative dynamics.

In value terms, the largest magnetic card importing markets in Scandinavia were Sweden ($X), Norway ($X) and Iceland ($X), together comprising 88% of total imports.

Iceland, with a CAGR of +26.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, with an increase of 4.5% against the previous year. Import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, magnetic card import price increased by +12.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 29%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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 Norway ($X per unit), while Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+11.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform