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

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

In 2023, the U.S. button, needle, and pin market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. The market value increased at an average annual rate of X% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Button, needle, and pin consumption peaked at $X in 2022, and then fell modestly in the following year.

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

In value terms, button, needle, and pin production dropped modestly to $X in 2023. The total output value increased at an average annual rate of X% from 2013 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Button, needle, and pin production peaked at $X in 2022, and then reduced in the following year.

Exports of Fastener, Button, Needle, And Pin

Exports from the U.S.

In 2023, overseas shipments of fastener, button, needle, and pin decreased by X% to X tons, falling for the second consecutive year after four years of growth. Overall, total exports indicated mild growth from 2013 to 2023: its volume 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 2023 figures, exports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2019 with an increase of X%. The exports peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, button, needle, and pin exports dropped slightly to $X in 2023. In general, exports continue to indicate a mild slump. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2023, 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. Nicaragua (X tons) ranked third in terms of total exports with a X% share.

From 2013 to 2023, 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 Germany, with a X% share.

From 2013 to 2023, 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 Germany (X% per year).

Export Prices by Country

In 2023, the average button, needle, and pin export price amounted to $X per ton, flattening at the previous year. Overall, the export price, however, saw a noticeable shrinkage. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2023, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (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 2023, after three years of growth, there was significant decline in overseas purchases of fastener, button, needle, and pin, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2022, and then dropped sharply in the following year.

In value terms, button, needle, and pin imports dropped to $X in 2023. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, China (X tons) constituted the largest button, needle, and pin supplier 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. Indonesia (X tons) ranked third in terms of total imports with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Indonesia (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), with a combined X% share of total imports. India, Japan, Italy, Indonesia, Malaysia, the Netherlands and Turkey lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, the Netherlands, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

The average button, needle, and pin import price stood at $X per ton in 2023, surging by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform