The global tipping foils market is estimated to exhibit growth at a CAGR of nearly 2% to 3% during the forecast period 2022 to 2032. Increasing customer inclination towards adopting high-security personal identification cards and contactless interfaces has resulted in increasing the adoption of smartcards, which is in turn, augmenting the demand for tipping foils in the market.
| Attribute | Details |
|---|---|
| Tipping Foils Market Projected Growth Rate (2022 to 2032) | 2% to 3% CAGR |
Tipping foils are a type of foil embossed on financial institution cards using hot stamping or tipping processes. These foils are designed to enhance the durability of cards to resist daily wear and tear along with maintaining the card quality for a longer period of time. Tipping foils are stamped onto the raised letters present on the card during the in-line vertical personalization process.
These foils are either pigmented or metallic and can be embossed permanently on the face of the card. They are available in a wide range of finishes and colors, from red to black and silver. However, metallic silver and gold are the most commonly used colors in the tipping process, owing to their compelling aesthetic and feel.
As tipping foils creates decorative finishes, enhance the look of the cards, and add anti-counterfeiting measures, they are extensively being used in automated teller machine (ATM) cards, identification (ID) cards, loyalty cards, credit cards, debit cards, and prepaid cards among others.
Hence, the increasing adoption of aforementioned cards owing to the rapidly shifting preference for cashless payments, especially in prominent economies such as the USA, China, Germany, India, and others is projected to bolster the sales of tipping foils in the market.
In addition to this, rising emphasis on the introduction of novel tipping foils with a superior abrasion resistance that results in longer-lasting high-quality imprints is estimated to further augment the growth in the global market.
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In recent years, a significant rise in the trend of cashless payments is being experienced across the globe, on the back of increasing incidence of cash theft, shifting preference towards bank transactions, and inconvenience in carrying hard cash. The trend registered massive growth amidst the coronavirus pandemic, as people across the infected countries were increasingly avoiding the use of cash for monetary transactions due to the fear of getting infected.
Citing this trend, numerous financial and banking firms are emphasis on introducing new contactless monetary transaction-enabled cards to capitalize on the aforementioned trend. For instance, in September 2020, IDFC First Bank, an Indian private banking company, announced unveiling its novel contactless debit card, SafePay, for enhancing customer convenience for their daily transactions simply by waving the card against the near field communication (NFC) enabled point of sales (PoS) terminals.
Tipping foils improve adhesion, increase surface hardness, lower card rejection, and enhance durability, thereby, increasing the life of the raised numbers present on cards. As they also assist in increasing card aesthetics, sharpening details of embossed characters, fine lining card definition, and providing uniformity, these foils are extensively being used on financial cards. Thus, a slew of such launches is expected to propel the demand for tipping foils in the market.
The increasing shift in customer preference toward the adoption of online payments using smartphones and the rinsing introduction of novel online payment platforms such as UPI, internet banking, BHIM mobile applications, and others is negatively affecting the demand for financial cards. This is, in turn, hindering the sales of tipping foils in the global market.
In addition to this, the growing implementation of stringent regulations by governments across the USA, Germany, India, the UK, China, and others concerning the use of plastic, owing to the growing environmental concerns is restraining the growth in the plastic segment.
As per FMI, North America is estimated to exhibit growth at a rapid CAGR in the tipping foils market during the forecast period 2022 to 2032.
With the surging trend of cashless payments and the rising need for secured authentication for data access across corporate enterprises, a swift rise in the demand for cards such as ID cards, excess cards, debit cards, and credit cards is being witnessed across North America.
Hence, several industry players are aiming at launching new cards with innovative personalized features such as names, numbers, and others to cater to the growing demand. This is in turn, creating strong demand for associated products such as tipping foils in the North American market.
Future Market Insights states that Western Europe is anticipated to account for a significant share of the global tipping foils market over the forecast period 2022 to 2032.
As the trend of digitalization continues to create deeper inroads across Western Europe, a rapid shift in consumer preference towards online shopping is being experienced across the countries such as the UK, Germany, Spain, and others. Citing this trend, several clothing brands are launching novel membership and loyalty cards with tempting offers and discounts to increase the customer base.
For instance, Zara, a Spanish flagship clothing chain store recently announced the launching of exclusive membership cards with attractive benefits, birthday discounts, and offers for members. As these cards are embossed with tipping foils to make them look more personalized and appealing, a slew of such product launches is estimated to bolster the demand in the Western Europe market.
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Some of the leading players in the global tipping foils market are Caxton Mark, Tavani Oy, Kurz.De, Capture Technologies, Kede, ITW Card Technologies, Peak-Ryzex, Zetatrade, QuickLabel, KROY LLC, Barcodes, Quipu, BRADY, IIMAK, Zebra and others.
Attributed to the presence of such a high number of participants and increasing product launches with superior durability and abrasion resistance, the market is highly competitive.
| Report Attribute | Details |
|---|---|
| Growth Rate in Automotive Sector | CAGR of 2% to 3% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Application, Region |
| Countries Covered | North America; Latin America; Western Europe; Eastern Europe; Asia-Pacific Excluding Japan (APEJ); Japan; Middle East and Africa |
| Key Companies Profiled | Caxton Mark; Tavani Oy; Kurz.De; Capture Technologies; Kede; ITW Card Technologies; Peak-Ryzex; Zetatrade; QuickLabel; KROY LLC; Barcodes; Quipu; BRADY; IIMAK; Zebra |
| Customization | Available Upon Request |
FMI projects the sales of tipping foils in the market are expected to rise at 2% to 3% value CAGR by 2032.
The global tipping foils market is anticipated to be dominated by Asia Pacific excluding Japan over the forecast period 2022 to 2032.
Caxton Mark, Tavani Oy, Kurz.De, Capture Technologies, Kede, ITW Card Technologies, Peak-Ryzex, Zetatrade, QuickLabel, KROY LLC, Barcodes, Quipu, BRADY, IIMAK, Zebra, and others some of the leading players in the global tipping foils market.
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