Report Update Nov 1, 2024

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

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Philippines: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in the Philippines

In 2022, the Philippine sewing machine needle market increased by 16% to $X for the first time since 2017, thus ending a four-year declining trend. Over the period under review, consumption, however, continues to indicate a deep contraction. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Sewing Machine Needle Exports

Exports from the Philippines

In 2022, shipments abroad of sewing machine needles decreased by -43.3% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded slight growth. The growth pace was the most rapid in 2021 when exports increased by 594% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, sewing machine needle exports fell markedly to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2021 with an increase of 722%. As a result, the exports attained the peak of $X, and then fell significantly in the following year.

Exports by Country

Ireland (X units) and Belgium (X units) were the main destinations of sewing machine needle exports from the Philippines.

From 2015 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +21.1%).

In value terms, Belgium ($X) remains the key foreign market for sewing machine needles exports from the Philippines, comprising 41% of total exports. The second position in the ranking was taken by Ireland ($X), with an 8.5% share of total exports.

From 2015 to 2022, the average annual rate of growth in terms of value to Belgium amounted to +90.7%.

Export Prices by Country

In 2022, the average sewing machine needle export price amounted to $X per thousand units, approximately equating the previous year. In general, the export price, however, showed a significant increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 767%. Over the period under review, the average export prices hit record highs at $X per thousand units in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per thousand units), while the average price for exports to Ireland stood at $X per thousand units.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+57.7%).

Sewing Machine Needle Imports

Imports into the Philippines

After four years of decline, overseas purchases of sewing machine needles increased by 7.5% to X units in 2022. Overall, imports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 285%. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, sewing machine needle imports soared to $X in 2022. In general, imports saw resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by 112%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X units) constituted the largest supplier of sewing machine needle to the Philippines, with a 48% share of total imports. Moreover, sewing machine needle imports from Singapore exceeded the figures recorded by the second-largest supplier, Vietnam (X units), threefold. The third position in this ranking was taken by China (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Singapore totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+57.6% per year) and China (-15.1% per year).

In value terms, Singapore ($X) constituted the largest supplier of sewing machine needles to the Philippines, comprising 48% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 16% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore totaled +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+33.7% per year) and China (+23.5% per year).

Import Prices by Country

In 2022, the average sewing machine needle import price amounted to $X per thousand units, rising by 19% against the previous year. Over the period under review, the import price continues to indicate a significant expansion. The growth pace was the most rapid in 2013 when the average import price increased by 501% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per thousand units) and Japan ($X per thousand units), while the price for Singapore ($X per thousand units) and China ($X per thousand units) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+45.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

The Czech Republic constituted the country with the largest volume of sewing machine needle consumption, comprising approx. 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. Bulgaria ranked third in terms of total consumption 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, with a combined 64% share of global production. South Korea, Singapore, Germany and China lagged somewhat behind, together comprising a further 27%.

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

In value terms, China constituted the largest supplier of sewing machine needle to the Philippines, comprising 48% of total imports. The second position in the ranking was occupied by Singapore, with a 22% share of total imports.

What is the average export price for sewing machine needles in the Philippines?

The average sewing machine needle export price stood at $103 per unit in 2021, almost unchanged from the previous year.

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

The average sewing machine needle import price stood at $14 per unit in 2021, declining by -74.6% against the previous year.

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

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
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