ASEAN: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in ASEAN

The ASEAN sewing machine needle market reduced remarkably to $X in 2022, shrinking by X% against the previous year. Overall, consumption continues to indicate a abrupt shrinkage. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Sewing Machine Needle Production in ASEAN

In value terms, sewing machine needle production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Sewing Machine Needle Exports

Exports in ASEAN

In 2022, the amount of sewing machine needles exported in ASEAN soared to X units, growing by X% on the year before. Over the period under review, exports saw a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, sewing machine needle exports skyrocketed to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore represented the major exporter of sewing machine needles in ASEAN, with the volume of exports accounting for X units, which was approx. X% of total exports in 2022. It was distantly followed by Vietnam (X units), mixing up a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of X%).

In value terms, the largest sewing machine needle supplying countries in ASEAN were Singapore ($X) and Vietnam ($X).

In terms of the main exporting countries, Singapore, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in ASEAN stood at less than $X per unit in 2022, reducing by X% against the previous year. Over the period under review, the export price saw a abrupt setback. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam (less than $X per unit), while Singapore stood at less than $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%).

Sewing Machine Needle Imports

Imports in ASEAN

In 2022, approx. X units of sewing machine needles were imported in ASEAN; which is down by X% on the previous year's figure. In general, imports showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, sewing machine needle imports reduced to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when imports increased by X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Indonesia (X units) and Singapore (X units) were the major importers of sewing machine needles in 2022, finishing at approx. X% and X% of total imports, respectively. It was distantly followed by Cambodia (X units), Thailand (X units), Myanmar (X units) and Vietnam (X units), together mixing up a X% share of total imports. Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported sewing machine needles in ASEAN, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with an X% share of total imports. It was followed by Indonesia, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Singapore totaled X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per thousand units, picking up by X% against the previous year. Import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sewing machine needle import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, import price attained the peak level of $X per thousand units. From 2021 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per thousand units), while Myanmar ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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