SADC: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in SADC

In 2022, the SADC sewing machine needle market decreased by -1.4% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +14.9% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2021, and then fell modestly in the following year.

Sewing Machine Needle Production in SADC

In value terms, sewing machine needle production declined modestly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 12% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2022.

Sewing Machine Needle Exports

Exports in SADC

In 2022, exports of sewing machine needles in SADC dropped to X units, waning by -9% compared with 2021 figures. Overall, exports, however, enjoyed noticeable growth. The pace of growth was the most pronounced in 2021 when exports increased by 95% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, sewing machine needle exports amounted to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +26.5% against 2020 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 37%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa (X units) represented roughly 97% of total exports in 2022.

South Africa was also the fastest-growing in terms of the sewing machine needles exports, with a CAGR of +7.1% from 2012 to 2022. While the share of South Africa (+28 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest sewing machine needle supplier in SADC.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to +4.7%.

Export Prices by Country

The export price in SADC stood at $X per thousand units in 2022, increasing by 13% against the previous year. Overall, the export price, however, continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2018 when the export price increased by 47%. As a result, the export price attained the peak level of $X per thousand units. From 2019 to 2022, 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 South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -2.2% per year.

Sewing Machine Needle Imports

Imports in SADC

In 2022, after two years of growth, there was significant decline in supplies from abroad of sewing machine needles, when their volume decreased by -20.7% to X units. In general, imports, however, saw a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 113% against the previous year. As a result, imports reached the peak of X units, and then fell remarkably in the following year.

In value terms, sewing machine needle imports dropped to $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 39%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

South Africa dominates imports structure, recording X units, which was near 77% of total imports in 2022. Madagascar (X units) ranks second in terms of the total imports with a 6.7% share, followed by Botswana (5.9%). The following importers - Lesotho (X units) and Swaziland (X units) - each amounted to a 4.6% share of total imports.

South Africa was also the fastest-growing in terms of the sewing machine needles imports, with a CAGR of +17.0% from 2012 to 2022. At the same time, Madagascar (+13.1%), Botswana (+12.9%) and Swaziland (+3.8%) displayed positive paces of growth. By contrast, Lesotho (-1.4%) illustrated a downward trend over the same period. While the share of South Africa (+24 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Swaziland (-2.7 p.p.) and Lesotho (-6.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported sewing machine needles in SADC, comprising 67% of total imports. The second position in the ranking was held by Madagascar ($X), with a 10% share of total imports. It was followed by Lesotho, with a 4.9% share.

In South Africa, sewing machine needle imports increased at an average annual rate of +6.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Madagascar (+4.1% per year) and Lesotho (-8.8% per year).

Import Prices by Country

The import price in SADC stood at $X per thousand units in 2022, picking up by 13% against the previous year. Over the period under review, the import price, however, recorded a deep reduction. The level of import peaked 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 Lesotho ($X per thousand units), while Botswana ($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 Swaziland (-3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform