Report Update Nov 1, 2024

Bangladesh - Sewing Machine Needles - Market Analysis, Forecast, Size, Trends and Insights

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Bangladesh: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Bangladesh

The Bangladeshi sewing machine needle market declined notably to $X in 2022, with a decrease of -26.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a slight downturn. Sewing machine needle consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Sewing Machine Needle Exports

Exports from Bangladesh

For the fifth consecutive year, Bangladesh recorded growth in shipments abroad of sewing machine needles, which increased by 31% to X units in 2021. Overall, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 93% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, sewing machine needle exports soared to $X in 2021. In general, exports, however, showed a noticeable decline. The growth pace was the most rapid in 2020 with an increase of 90% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria (X units) was the main destination for sewing machine needle exports from Bangladesh, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nigeria totaled +31.1%.

In value terms, Nigeria ($X) also remains the key foreign market for sewing machine needles exports from Bangladesh.

From 2012 to 2021, the average annual growth rate of value to Nigeria stood at +16.1%.

Export Prices by Country

The average sewing machine needle export price stood at $X per thousand units in 2021, declining by -11.4% against the previous year. Overall, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2013 when the average export price increased by 11% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per thousand units in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -11.4% per year.

Sewing Machine Needle Imports

Imports into Bangladesh

In 2022, supplies from abroad of sewing machine needles decreased by -29.8% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 120% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, sewing machine needle imports shrank sharply to $X in 2022. Overall, imports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 110% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Singapore (X units), Japan (X units) and Germany (X units) were the main suppliers of sewing machine needle imports to Bangladesh, with a combined 75% share of total imports. South Korea, China, Sri Lanka and Taiwan (Chinese) lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sri Lanka (with a CAGR of +89.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sewing machine needle suppliers to Bangladesh were Japan ($X), Singapore ($X) and Germany ($X), together comprising 89% of total imports. South Korea, China, Taiwan (Chinese) and Sri Lanka lagged somewhat behind, together comprising a further 8.9%.

Among the main suppliers, Sri Lanka, with a CAGR of +21.9%, 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

In 2022, the average sewing machine needle import price amounted to $X per thousand units, growing by 5.1% against the previous year. Over the period under review, the import price, however, recorded a slight setback. The pace of growth appeared the most rapid in 2016 an increase of 58%. As a result, import price reached the peak level of $X per thousand units. From 2017 to 2022, the average 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 Germany ($X per thousand units), while the price for Sri Lanka ($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 Japan (+3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sewing machine needles in the world?

The country with the largest volume of sewing machine needle consumption was the Czech Republic, accounting for 69% of total volume. Moreover, sewing machine needle consumption in the Czech Republic exceeded the figures recorded by the second-largest consumer, Slovakia, more than tenfold. The third position in this ranking was occupied by Bulgaria, with a 3% share.

What are the largest producers of sewing machine needles in the world?

The countries with the highest volumes of in 2021 were Vietnam, India and the Czech Republic, together comprising 64% of global production. These countries were followed by South Korea, Singapore, Germany and China, which together accounted for a further 27%.

What are the leading suppliers of sewing machine needles to Bangladesh?

In value terms, Hong Kong SAR constituted the largest supplier of sewing machine needle to Bangladesh, comprising 81% of total imports. The second position in the ranking was occupied by India, with an 11% share of total imports.

What is the average import price for sewing machine needles in Bangladesh?

The average sewing machine needle import price stood at $33 per unit in 2021, reducing by -14% against the previous year.

This report provides an in-depth analysis of the sewing machine needle market in Bangladesh. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28945230 - Sewing machine needles

Country coverage:

Bangladesh

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Bangladesh
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023