Metal Credit Card Market Report 2024 (Global Edition)

Global Metal Credit Card Market Report 2024 Market Size Split by Type (Full Metal Card, Hybrid Metal Card, Veneer Metal Card), by Issuer Type (Banks, Fintech Companies), by Application (Standard Cards...

Metal Credit Card Market Report Description

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Metal Credit Card Market Insights Video

Competitive Landscape of the Metal Credit Card Market

Major financial institutions, fintech firms, and digital banks are fighting for market share in the fiercely competitive metal credit card market. Important companies that provide premium metal card options with unique perks are American Express, J.P. Morgan Chase, and Mastercard. Targeting tech-savvy customers, fintech companies such as Revolut and N26 are also making their way into the industry. In order to draw in wealthy and discerning clients, the competition is mostly focused on offering distinctive prizes, customization choices, and improved digital services.

In September 2023, AU Small Finance Bank Limited, a reputable small finance bank in India, launched the Zenith Plus Super Premium Metal Credit Card. It offers several appealing features, including personalized concierge services, premium lounge access, and reward points or vouchers for premium brands valued at Rs 5000. (Source:https://www.aubank.in/press-releases_14-au-small-finance-bank-unveils-zenith-plus-super-premium-credit-card-sept-5-2023.pdf) In January 2023, CompoSecure, Inc., a pioneer in security and authentication systems and metal payment cards, introduced new technology for consumer wallets. The CompoSecure Innovation Lab's concepts and designs can make premium metal payment cards smarter and sleeker than before. Examples of these include metal credit cards that light up LEDs when a transaction is approved at the point of sale and the tokenization of a payment card for authentication. (Source:https://ir.composecure.com/news-releases/news-release-details/composecure-unveils-new-payment-card-tech-innovations-2023) In December 2020, IndusInd Bank, a provider of a wide range of financial services and products, introduced the first metal credit card, "PIONEER Heritage," for its ultra-high-net-worth customers. (Source:https://www.indusind.com/in/en/about-us/mediabrand/FY/2020-2021/December/IBL-launches-metal-credit-card-PIONEER-Heritage-for-affluent-segment.html?utm_source=Google_Organic_Search)

Top Companies Market Share in Metal Credit Card Industry: (In no particular order of Rank)

• Composecure (U.S.)
• X-Core (U.S.)
• Valid (Brazil)
• CPI Card Group (U.S.)
• Gemalto (Netherlands)
• Goldpac (China)
• G&D (Germany)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Metal Credit Card Market

Which Region Dominates the Metal Credit Card Market in 2024?

According to Cognitive Market Research, North America currently dominates the Metal Credit Card market, and the region is expected to have significant growth during the projected period. The Metal Credit Card Market is expected to increase in North America because of the region's sophisticated financial infrastructure and high proportion of affluent consumers. Rich people who want elegance and exclusivity can choose from a range of metal credit cards offered by major banks and fintech companies in the area, including American Express, J.P. Morgan Chase, and Apple. The desire for premium, individualized financial products is further bolstered by the region's significant adoption of digital banking. Additionally, the well-established rewards culture in North America, which offers privileges like concierge services, luxury experiences, and travel benefits, increases the allure of metal credit cards and positions the region as a major worldwide growth market.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). Due to rising middle-class wealth and rising consumer expenditure on luxury products, the Asia Pacific region is expected to propel the metal credit card market's significant rise. Luxury financial services are in high demand in countries like China, India, and Australia, where high-net-worth individuals are increasingly favoring metal credit cards. Furthermore, customers' accessibility and convenience are improved by the region's quick embrace of fintech and digital banking products. The Asia Pacific market is anticipated to witness strong growth in the metal credit card industry as financial institutions roll out creative incentive schemes and other perks catered to regional tastes.

The current report Scope analyzes Metal Credit Card Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Metal Credit Card

According to Cognitive Market Research, the global Metal Credit Card market size was estimated at USD 1621.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 648.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Metal Credit Card market with a market size of USD 511.75 million in 2024 and is projected to grow at a CAGR of 23.0% during the forecast period. In the US, luxury, and prestige symbols are highly coveted, which makes metal credit cards popular among the wealthy.
• The Canada Metal Credit Card market had a market share of USD 77.83 million in 2024 and is projected to grow at a CAGR of 24.0% during the forecast period. Banks are responding to Canadian consumers' preference for security by providing metal cards equipped with cutting-edge security features.
• The Mexico Metal Credit Card market is projected to witness growth at a CAGR of 23.7% during the forecast period, with a market size of USD 59.02 million in 2024.

Europe Metal Credit Card

According to Cognitive Market Research, the global Metal Credit Card market size was estimated at USD 1621.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 486.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.5% from 2024 to 2031.

• The United Kingdom Metal Credit Card market had a market share of USD 81.72 million in 2024 and is projected to grow at a CAGR of 24.3% during the forecast period. The UK's fintech industry's growth encourages consumers to use cutting-edge financial solutions like metal cards.
• The France Metal Credit Card market is projected to witness growth at a CAGR of 22.7% during the forecast period, with a market size of USD 44.75 million in 2024.
• According to Cognitive Market Research, the German Metal Credit Card market size was valued at USD 96.32 million in 2024 and is projected to grow at a CAGR of 23.7% during the forecast period. German consumers are drawn to cashback and enhanced loyalty programs, which is driving up demand for metal credit cards.
• The Italy Metal Credit Card market is projected to witness growth at a CAGR of 22.9% during the forecast period, with a market size of USD 41.83 million in 2024.
• The Russia Metal Credit Card market is projected to witness growth at a CAGR of 22.5% during the forecast period, with a market size of USD 75.40 million in 2024.
• The Spain Metal Credit Card market is projected to witness growth at a CAGR of 22.6% during the forecast period with a market size of USD 39.89 million in 2024
• The Luxembourg Metal Credit Card market is projected to witness growth at a CAGR of 23.6% during the forecast period, with a market size of USD 15.08 million in 2024.
• The Portugal Metal Credit Card market is projected to witness growth at a CAGR of 23.3% during the forecast period, with a market size of USD 10.22 million in 2024.
• The Greece Metal Credit Card market is projected to witness growth at a CAGR of 23.8% during the forecast period, with a market size of USD 5.84 million in 2024.
• The Rest of Europe's Metal Credit Card market is projected to witness growth at a CAGR of 22.2% during the forecast period, with a market size of USD 75.40 million in 2024.

Asia Pacific Metal Credit Card

According to Cognitive Market Research, the global Metal Credit Card market size was estimated at USD 1621.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 372.95 million in 2024 and will grow at a compound annual growth rate (CAGR) of 27.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Metal Credit Card market size was valued at USD 167.83 million in 2024 and is projected to grow at a CAGR of 26.5% during the forecast period. Metal Credit Card sales surged in China due to the demand for metal credit cards fueled by a constantly expanding middle class that searches out premium financial products.
• The Japan Metal Credit Card market is projected to witness growth at a CAGR of 25.5% during the forecast period, with a market size of USD 51.47 million in 2024.
• The India Metal Credit Card market had a market share of USD 44.75 million in 2024 and is projected to grow at a CAGR of 28.8% during the forecast period. In India, the need for premium banking products among Indian consumers is being driven by economic growth and increasing discretionary incomes.
• The South Korean Metal Credit Card market is projected to witness growth at a CAGR of 26.1% during the forecast period, with a market size of USD 37.29 million in 2024.
• The Australian Metal Credit Card market is projected to witness growth at a CAGR of 26.7% during the forecast period, with a market size of USD 19.39 million in 2024.
• The South East Asia Metal Credit Card market is projected to witness growth at a CAGR of 28.0% during the forecast period, with a market size of USD 25.73 million in 2024.
• The Rest of Asia Pacific Metal Credit Card market is projected to witness growth at a CAGR of 26.8% during the forecast period, with a market size of USD 26.48 million in 2024.

South America Metal Credit Card

According to Cognitive Market Research, the global Metal Credit Card market size was estimated at USD 1621.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 81.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Metal Credit Card market size was valued at USD 34.70 million in 2024 and is projected to grow at a CAGR of 25.0% during the forecast period. Metal credit cards flourish in Brazil because they are becoming more and more appealing as Brazilian banks adopt cutting-edge financial products.
• Argentina's Metal Credit Card market had a market share of USD 13.62 million in 2024 and is projected to grow at a CAGR of 25.3% during the forecast period. Local banks are making metal cards more appealing by providing special incentives catered to Argentine consumers.
• Colombia Metal Credit Card market is projected to witness growth at a CAGR of 24.2% during the forecast period, with a market size of USD 7.22 million in 2024.
• Peru Metal Credit Card market is projected to witness growth at a CAGR of 24.6% during the forecast period, with a market size of USD 6.65 million in 2024.
• Chile's Metal Credit Card market is projected to witness growth at a CAGR of 24.7% during the forecast period, with a market size of USD 5.84 million in 2024.
• The Rest of Latin America's Metal Credit Card market is projected to witness growth at a CAGR of 23.5% during the forecast period, with a market size of USD 13.05 million in 2024.

Middle East and Africa Metal Credit Card

According to Cognitive Market Research, the global Metal Credit Card market size was estimated at USD 1621.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 32.43 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.7% from 2024 to 2031..

• The GCC Countries Metal Credit Card market is projected to witness growth at a CAGR of 25.5% during the forecast period, with a market size of USD 13.88 million in 2024. Metal Credit Card sales flourish in GCC countries due to the metal cards with special travel incentives are especially appealing, as they place a significant focus on travel and hospitality.
• The Egypt Metal Credit Card market is projected to witness growth at a CAGR of 25.0% during the forecast period, with a market size of USD 3.41 million in 2024.
• The South Africa Metal Credit Card market is projected to witness growth at a CAGR of 25.7% during the forecast period, with a market size of USD 5.12 million in 2024. Metal Credit Card sales flourished in South Africa due to the desire for corporate credit cards, particularly the metal versions intended for top executives, which is being driven by the growth of South Africa's enterprises and industries.
• The Turkey Metal Credit Card market is projected to witness growth at a CAGR of 24.2% during the forecast period, with a market size of USD 2.79 million in 2024.
• The Nigeria Metal Credit Card market is projected to witness growth at a CAGR of 23.8% during the forecast period, with a market size of USD 3.41 million in 2024.
• The Rest of the MEA Metal Credit Card market is projected to witness growth at a CAGR of 23.7% during the forecast period, with a market size of USD 3.83 million in 2024.

Metal Credit Card Market Analysis

Metal Credit Card Market Type Segment Analysis

According to Cognitive Market Research, full metal cards are likely to dominate the Metal Credit Card Market over the forecast period. The robustness, premium feel, and visual attractiveness of full metal credit cards are driving up demand for them in the metal credit card market. Customers are drawn to these cards because of their weight and quality, as well as because they represent prestige and exclusivity. By providing full metal cards with upgraded features like personalized designs and special incentive programs, financial institutions are capitalizing on this trend. The growing demand for exclusive and opulent experiences among rich consumers is anticipated to consolidate further full metal credit cards' standing in the premium credit card market.

The hybrid metal card is the fastest-growing segment in the Metal Credit Card Market. In the metal credit card market, hybrid cards are becoming more and more popular as customers look for a balance between style and functionality. These cards usually consist of a metal core surrounded by a plastic outer layer, providing the strength and visual appeal of metal with the advantage of being lighter and compatible with a wider variety of payment terminals. Both people who value everyday usage and those who are wealthy find hybrid metal cards appealing because they frequently come with special benefits like premium rewards and improved security features. Market development is being driven by consumers' rising demand for hybrid choices, which represent a desire for elegance without losing functionality.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Metal Credit Card Industry. Request a Free Sample PDF!

Metal Credit Card Market Issuer Type Segment Analysis

According to Cognitive Market Research, the bank's segment holds the largest share of the market. Banks play a major role in the metal credit card market by using their base of customers and well-established brand recognition to offer high-end metal credit cards. These cards come with special features like travel rewards, concierge services, and access to abundant experiences from major banks, including American Express, JPMorgan Chase, and Citibank. By creating customized products that attract to high net worth individuals, these issuers are concentrating on increasing customer loyalty. In an effort to compete with major financial institutions in the premium credit segment, regional banks and credit unions are now joining the market and offering metal cards to draw in wealthy customers.

In the Metal Credit Card Market, the category of fintech companies has been growing quickly. Fintech firms are becoming more and more inventive issuers in the metal credit card market, targeting tech-savvy and well-off customers. Metal credit cards, which combine sophisticated digital banking functions with a stylish look, are being introduced by companies such as Revolut, N26, and Chime. These cards appeal to younger customers and those looking for flexibility because they frequently have cheap annual fees or none at all, as well as special rewards schemes. Fintech issuers use technology to increase accessibility to metal cards by providing real-time expenditure tracking, personalized financial information, and smooth online applications. Fintech is becoming more and more influential in the metal credit card market as it continues to upend traditional banking.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Metal Credit Card Application Segment Analysis

Metal Credit Card Market Application Segment Analysis

According to Cognitive Market Research, the standard cards segment holds the largest market share. Standard credit cards in the metal credit card market are mostly used by wealthy customers looking for a mix of style and functionality. These conventional metal cards, which come with vital features like contactless payments, rewards systems, and special access to events and services, are frequently distributed by big banks and fintech startups. Applications for travel, food, and entertainment are just a few of the industries in which customers can make use of premium benefits like access to airport lounges and travel insurance. Standard metal credit cards are favored by high-net-worth individuals for routine purchases due to their strength and elegant appearance.

Custom cards are anticipated to be the fastest-growing segment in the Metal Credit Card market. Rich consumers seeking customized financial solutions that represent their identities and lifestyles are the target market for custom cards in the Metal Credit Card Market. In order to improve the ownership experience, these cards let customers personalize elements like design, engraving, and branding. Customized metal cards find a lot of use in industries such as luxury travel, where customers enjoy special perks like travel incentives and concierge services. To further strengthen brand identity and loyalty, companies are utilizing personalized metal cards more frequently for corporate gifts and staff incentives. In the premium market, personalized metal cards are a sought-after option due to the growing trend of customization.

• Standard Cards
• Custom Cards

Metal Credit Card End Use Segment Analysis

Metal Credit Card Market End-Use Segment Analysis

According to Cognitive Market Research, the individual consumer segment dominates the market. Individual consumers represent a significant end-use group in the metal credit card market, mainly looking for high-end financial solutions that match their status and way of life. These customers, who are frequently wealthy people, appreciate the rarity and robustness of metal cards since they convey a feeling of distinction and elegance. Travel perks, cashback incentives, and special access to events and services are just a few of the advantages that come with metal credit cards. Individual customers are drawn to these cards because of their stylish appearance and the improved experience they offer when making daily purchases, traveling, and dining out. This satisfies their need for upscale and customized financial services.

Businesses are projected to be the fastest-growing segment in the Metal Credit Card market. Businesses represent a growing end-use segment in the metal credit card market as they look for higher-end financial products for corporate branding, staff awards, and customer incentives. Employers can use metal credit cards to give their staff and customers special benefits like travel incentives, concierge services, and increased spending power, all while projecting a more polished corporate image. These cards can also be used as a cost control tool, giving companies the ability to monitor their spending efficiently. By providing metal credit cards, businesses can encourage client and staff loyalty and involvement, which makes them a desirable choice in the corporate financial scene.

• Individual Consumers
• Businesses

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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