U.S.: Silk Tie Market 2022

Silk Tie Market Size in the U.S.

After two years of decline, the U.S. silk tie market increased by X% to $X in 2020. Over the period under review, consumption, however, continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2008 when the market value increased by X% year-to-year. As a result, consumption reached the peak level of $X. from 2009 to 2020, the growth of the market remained at a somewhat lower figure.

Silk Tie Production in the U.S.

In value terms, silk tie production rose sharply to $X in 2020. Overall, production saw significant growth. The most prominent rate of growth was recorded in 2008 when the production volume increased by X% y-o-y. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2020, production stood at a somewhat lower figure.

Silk Tie Exports

Exports from the U.S.

In 2020, overseas shipments of ties, bow ties and cravats of silk or silk waste (excluding knitted or crocheted) decreased by -X% to X units for the first time since 2017, thus ending a two-year rising trend. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by X% y-o-y. Exports peaked at X units in 2013; however, from 2014 to 2020, exports failed to regain the momentum.

In value terms, silk tie exports contracted remarkably to $X in 2020. Over the period under review, exports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2010 when exports increased by X% y-o-y. Exports peaked at $X in 2012; however, from 2013 to 2020, exports remained at a lower figure.

Exports by Country

Canada (X units), the UK (X units) and Japan (X units) were the main destinations of silk tie exports from the U.S., together accounting for X% of total exports. Italy, Chile, Hong Kong SAR, India and South Korea lagged somewhat behind, together accounting for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India, while exports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Japan ($X) and the UK ($X) were the largest markets for silk tie exported from the U.S. worldwide, together accounting for X% of total exports. Italy, Chile, Hong Kong SAR, India and South Korea lagged somewhat behind, together comprising a further X recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average silk tie export price stood at $X per unit in 2020, with an increase of X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per unit), while the average price for exports to South Korea ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Canada, while the prices for the other major destinations experienced a decline.

Silk Tie Imports

Imports into the U.S.

Silk tie imports into the U.S. reduced remarkably to X units in 2020, falling by -X% compared with the previous year. Overall, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked at X units in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, silk tie imports contracted sharply to $X in 2020. Over the period under review, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2011 when imports increased by X% y-o-y. Over the period under review, imports attained the peak figure at $X in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, China (X units) constituted the largest supplier of silk tie to the U.S., accounting for a X% share of total imports. Moreover, silk tie imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold.

From 2007 to 2020, the average annual growth rate of volume from China totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-X% per year) and France (-X% per year).

In value terms, Italy ($X), China ($X) and France ($X) appeared to be the largest silk tie suppliers to the U.S., with a combined X% share of total imports.

Among the main suppliers, France saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2020, the average silk tie import price amounted to $X per unit, shrinking by -X% against the previous year. In general, the import price, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2019 an increase of X% year-to-year. As a result, import price attained the peak level of $X per unit, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform