Denmark: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Denmark

In 2022, the Danish sewing machine needle market increased by 47% to $X, rising for the second year in a row after four years of decline. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sewing Machine Needle Production in Denmark

In value terms, sewing machine needle production reduced to $X in 2022 estimated in export price. Overall, production showed a perceptible expansion. The growth pace was the most rapid in 2018 with an increase of 55%. Sewing machine needle production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Sewing Machine Needle Exports

Exports from Denmark

In 2022, overseas shipments of sewing machine needles decreased by -20.7% to X units, falling for the second year in a row after five years of growth. In general, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 51%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, sewing machine needle exports dropped to $X in 2022. Overall, exports, however, saw a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 79% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X units) was the main destination for sewing machine needle exports from Denmark, with a 62% share of total exports. Moreover, sewing machine needle exports to Sweden exceeded the volume sent to the second major destination, Germany (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+17.4% per year) and Norway (+2.1% per year).

In value terms, Sweden ($X), Norway ($X) and Germany ($X) appeared to be the largest markets for sewing machine needle exported from Denmark worldwide, together accounting for 97% of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +28.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sewing machine needle export price stood at $X per thousand units in 2022, growing by 24% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average export price increased by 35%. The export price peaked at $X per thousand units in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per thousand units), while the average price for exports to Germany ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sewing Machine Needle Imports

Imports into Denmark

In 2022, supplies from abroad of sewing machine needles increased by 49% to X units, rising for the third consecutive year after three years of decline. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 233% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, sewing machine needle imports skyrocketed to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 102%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of sewing machine needle to Denmark, with a 89% share of total imports. Moreover, sewing machine needle imports from Germany exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold. The third position in this ranking was taken by Poland (X units), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +27.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+16.1% per year) and Poland (+127.7% per year).

In value terms, Germany ($X) constituted the largest supplier of sewing machine needles to Denmark, comprising 88% of total imports. The second position in the ranking was taken by India ($X), with a 3.3% share of total imports. It was followed by Sweden, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.7% per year) and Sweden (-3.8% per year).

Import Prices by Country

In 2022, the average sewing machine needle import price amounted to $X per thousand units, with a decrease of -18.6% against the previous year. Overall, the import price recorded a abrupt descent. The pace of growth was the most pronounced in 2018 an increase of 77% against the previous year. As a result, import price attained the peak level of $X per thousand units. From 2019 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per thousand units), while the price for Poland ($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 Finland (+24.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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