Report Update Nov 1, 2024

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

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ECOWAS: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in ECOWAS

In 2022, the ECOWAS sewing machine needle market decreased by -54.4% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption, however, posted a strong expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Sewing Machine Needle Production in ECOWAS

In value terms, sewing machine needle production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 192%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Sewing Machine Needle Exports

Exports in ECOWAS

In 2022, the amount of sewing machine needles exported in ECOWAS surged to X units, jumping by 51% on the year before. Over the period under review, exports saw resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 495% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, sewing machine needle exports rose modestly to $X in 2022. In general, exports saw significant growth. The growth pace was the most rapid in 2014 when exports increased by 734% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Togo (X units) and Ghana (X units) were the main exporters of sewing machine needles in 2022, reaching near 49% and 35% of total exports, respectively. It was distantly followed by Benin (X units), achieving a 16% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Benin (with a CAGR of +199.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) remains the largest sewing machine needle supplier in ECOWAS, comprising 82% of total exports. The second position in the ranking was held by Benin ($X), with a 9.8% share of total exports.

In Ghana, sewing machine needle exports expanded at an average annual rate of +32.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Benin (+189.3% per year) and Togo (+28.0% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per thousand units, dropping by -32.3% against the previous year. Overall, the export price, however, showed a pronounced expansion. The pace of growth was the most pronounced in 2017 an increase of 102%. Over the period under review, the export prices hit record highs at $X per thousand units in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per thousand units), while Togo ($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 Ghana (+11.6%), while the other leaders experienced a decline in the export price figures.

Sewing Machine Needle Imports

Imports in ECOWAS

In 2022, overseas purchases of sewing machine needles decreased by -59.8% to X units, falling for the second consecutive year after four years of growth. In general, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2013 with an increase of 323% against the previous year. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, sewing machine needle imports contracted remarkably to $X in 2022. Over the period under review, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 303%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of sewing machine needle imports in 2022 were Nigeria (X units), together finishing at 100% of total import.

Nigeria was also the fastest-growing in terms of the sewing machine needles imports, with a CAGR of +14.6% from 2012 to 2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported sewing machine needles in ECOWAS.

In Nigeria, sewing machine needle imports expanded at an average annual rate of +16.0% over the period from 2012-2022.

Import Prices by Country

The import price in ECOWAS stood at $X per thousand units in 2022, with an increase of 24% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 76% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to +1.2% per year.

Source: IndexBox Platform

This report provides an in-depth analysis of the sewing machine needle market in ECOWAS. 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:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in ECOWAS, split by region and country
Trade (exports and imports) in ECOWAS
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. CONSUMPTION BY COUNTRY
3. 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
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
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
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023