Benelux: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Benelux

In 2022, after two years of growth, there was significant decline in the Benelux sewing machine needle market, when its value decreased by -8.7% to $X. The market value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Sewing Machine Needle Production in Benelux

In value terms, sewing machine needle production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 14% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Sewing Machine Needle Exports

Exports in Benelux

After four years of growth, overseas shipments of sewing machine needles decreased by -3.7% to X units in 2022. Overall, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 83%. As a result, the exports attained the peak of X units, and then fell slightly in the following year.

In value terms, sewing machine needle exports dropped modestly to $X in 2022. Over the period under review, exports saw a slight contraction. The growth pace was the most rapid in 2014 with an increase of 22% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium represented the major exporter of sewing machine needles in Benelux, with the volume of exports amounting to X units, which was near 66% of total exports in 2022. It was distantly followed by the Netherlands (X units), constituting a 34% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +21.1%).

In value terms, Belgium ($X) remains the largest sewing machine needle supplier in Benelux, comprising 69% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Belgium totaled -4.8%.

Export Prices by Country

The export price in Benelux stood at $X per thousand units in 2022, remaining constant against the previous year. Over the period under review, the export price, however, showed a abrupt slump. The growth pace was the most rapid in 2014 when the export price increased by 19% against the previous year. As a result, the export price attained the peak level of $X per thousand units. From 2015 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 Belgium ($X per thousand units), while the Netherlands amounted to $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+14.8%).

Sewing Machine Needle Imports

Imports in Benelux

After two years of growth, purchases abroad of sewing machine needles decreased by -11.9% to X units in 2022. Overall, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 102%. Over the period under review, imports attained the peak figure at X units in 2021, and then fell in the following year.

In value terms, sewing machine needle imports reduced markedly to $X in 2022. The total import value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 54% against the previous year. As a result, imports reached the peak of $X, and then declined remarkably in the following year.

Imports by Country

The Netherlands represented the main importing country with an import of around X units, which resulted at 76% of total imports. It was distantly followed by Belgium (X units), committing a 24% share of total imports.

The Netherlands was also the fastest-growing in terms of the sewing machine needles imports, with a CAGR of +34.0% from 2012 to 2022. At the same time, Belgium (+6.7%) displayed positive paces of growth. From 2012 to 2022, the share of the Netherlands increased by +52 percentage points.

In value terms, Belgium ($X) and the Netherlands ($X) were the countries with the highest levels of imports in 2022.

In terms of the main importing countries, the Netherlands, with a CAGR of +23.7%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per thousand units, dropping by -10.8% against the previous year. Over the period under review, the import price saw a deep contraction. The pace of growth appeared the most rapid in 2019 when the import price increased by 85%. Over the period under review, import prices attained the peak figure at $X per thousand units in 2014; however, from 2015 to 2022, 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 Belgium ($X per thousand units), while the Netherlands totaled $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (-7.7%).

Source: IndexBox Platform