Southern Asia: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Southern Asia

In 2023, the South Asian sewing machine needle market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. Over the period under review, consumption continues to indicate a significant expansion. As a result, consumption attained the peak level of $X, and then declined slightly in the following year.

Sewing Machine Needle Production in Southern Asia

In value terms, sewing machine needle production surged to $X in 2023 estimated in export price. In general, production showed a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Sewing Machine Needle Exports

Exports in Southern Asia

In 2023, overseas shipments of sewing machine needles decreased by X% to X units, falling for the second year in a row after five years of growth. Overall, exports saw a perceptible setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X units. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, sewing machine needle exports skyrocketed to $X in 2023. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, India (X units) represented the key exporter of sewing machine needles in Southern Asia, generating X% of total export.

India was also the fastest-growing in terms of the sewing machine needles exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest sewing machine needle supplier in Southern Asia.

From 2012 to 2023, the average annual growth rate of value in India was relatively modest.

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per thousand units, increasing by X% against the previous year. Over the period under review, the export price saw a moderate expansion. The pace of growth was the most pronounced in 2022 when the export price increased by X%. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Sewing Machine Needle Imports

Imports in Southern Asia

In 2023, imports of sewing machine needles in Southern Asia skyrocketed to X units, growing by X% on the previous year. Total imports indicated moderate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sewing machine needle imports dropped to $X in 2023. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

India represented the key importing country with an import of about X units, which reached X% of total imports. Bangladesh (X units) took the second position in the ranking, distantly followed by Pakistan (X units). All these countries together took approx. X% share of total imports. Sri Lanka (X units) followed a long way behind the leaders.

India was also the fastest-growing in terms of the sewing machine needles imports, with a CAGR of X% from 2012 to 2023. At the same time, Pakistan (X%) displayed positive paces of growth. Bangladesh experienced a relatively flat trend pattern. By contrast, Sri Lanka (X%) illustrated a downward trend over the same period. India (X p.p.) significantly strengthened its position in terms of the total imports, while Pakistan, Sri Lanka and Bangladesh saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

In value terms, India ($X) constitutes the largest market for imported sewing machine needles in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total imports. It was followed by Sri Lanka, with a X% share.

In India, sewing machine needle imports decreased by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Bangladesh (X% per year) and Sri Lanka (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per thousand units in 2023, shrinking by X% against the previous year. In general, the import price showed a noticeable slump. The most prominent rate of growth was recorded in 2016 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per thousand units in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sri Lanka ($X per thousand units), while Pakistan ($X per thousand units) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform