U.S.: Market for Fastener, Button, Needle, And Pin 2024

Market Size for Fastener, Button, Needle, And Pin in the U.S.

In 2022, the U.S. button, needle, and pin market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2013 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Button, needle, and pin consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Fastener, Button, Needle, And Pin in the U.S.

In value terms, button, needle, and pin production contracted slightly to $X in 2022. The total output value increased at an average annual rate of X% over the period from 2013 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. Button, needle, and pin production peaked at $X in 2021, and then dropped modestly in the following year.

Exports of Fastener, Button, Needle, And Pin

Exports from the U.S.

In 2022, after two years of growth, there was significant decline in overseas shipments of fastener, button, needle, and pin, when their volume decreased by X% to X tons. Overall, exports, however, posted notable growth. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted in the following year.

In value terms, button, needle, and pin exports rose to $X in 2022. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for button, needle, and pin exports from the United States, with a X% share of total exports. Moreover, button, needle, and pin exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), twofold. The third position in this ranking was taken by Nicaragua (X tons), with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Nicaragua (X% per year).

In value terms, Mexico ($X) remains the key foreign market for fastener, button, needle, and pin exports from the United States, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports. It was followed by Nicaragua, with a X% share.

From 2013 to 2022, the average annual growth rate of value to Mexico was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Nicaragua (X% per year).

Export Prices by Country

In 2022, the average button, needle, and pin export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a deep slump. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fastener, Button, Needle, And Pin

Imports into the U.S.

In 2022, imports of fastener, button, needle, and pin into the United States totaled X tons, surging by X% on 2021. Overall, total imports indicated a strong increase from 2013 to 2022: its volume increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, button, needle, and pin imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of X% from 2013 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of button, needle, and pin to the United States, with a X% share of total imports. Moreover, button, needle, and pin imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. Japan (X tons) ranked third in terms of total imports with an X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).

In value terms, the largest button, needle, and pin suppliers to the United States were China ($X), Taiwan (Chinese) ($X) and Mexico ($X), together comprising X% of total imports. India, Japan, Indonesia, South Korea, Turkey, the Netherlands and Poland lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average button, needle, and pin import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price recorded a pronounced downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Poland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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