U.S.: Market for Plastic or Non-Precious Metal Watches 2024

Market Size for Plastic or Non-Precious Metal Watches in the U.S.

The U.S. market for plastic or non-precious metal watches reached $X in 2022, increasing by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Exports of Plastic or Non-Precious Metal Watches

Exports from the U.S.

In 2022, overseas shipments of plastic or non-precious metal watches increased by 8.6% to X units, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 12%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, plastic or non-precious metal watch exports expanded significantly to $X in 2022. The total export value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when exports increased by 20% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X units), Mexico (X units) and Switzerland (X units) were the main destinations of plastic or non-precious metal watch exports from the United States, with a combined 47% share of total exports. Hong Kong SAR, Paraguay, the Netherlands, the United Arab Emirates, the UK, Japan, Germany, Colombia and Panama lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for Paraguay (with a CAGR of +15.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Switzerland ($X) and Hong Kong SAR ($X) constituted the largest markets for plastic or non-precious metal watch exported from the United States worldwide, together comprising 42% of total exports. Mexico, the United Arab Emirates, the Netherlands, Paraguay, the UK, Germany, Japan, Colombia and Panama lagged somewhat behind, together comprising a further 30%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +17.0%, 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

In 2022, the average export price for plastic or non-precious metal watches amounted to $X per unit, surging by 3.4% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 8.9% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Paraguay ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into the U.S.

In 2022, overseas purchases of plastic or non-precious metal watches increased by 8.8% to X units, rising for the second year in a row after five years of decline. Overall, imports, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 29%. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, plastic or non-precious metal watch imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +2.6% over the period 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 53% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Japan (X units), China (X units) and Switzerland (X units) were the main suppliers of plastic or non-precious metal watch imports to the United States, with a combined 90% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of -1.4%), while purchases for the other leaders experienced a decline.

In value terms, Switzerland ($X) constituted the largest supplier of plastic or non-precious metal watches to the United States, comprising 77% of total imports. The second position in the ranking was held by Japan ($X), with a 14% share of total imports. It was followed by China, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Switzerland totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.0% per year) and China (-7.8% per year).

Import Prices by Country

In 2022, the average import price for plastic or non-precious metal watches amounted to $X per unit, with an increase of 1.9% against the previous year. Over the period under review, the import price showed a buoyant expansion. The pace of growth was the most pronounced in 2020 an increase of 29% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 Switzerland ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform