Overview of the Market for Button, Needle, And Pin in the USA
Market Overview
After two years of growth, the U.S. button, needle, and pin market decreased by -
% to $
in 2019. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of
% y-o-y. Over the period under review, the market attained the peak level at $
in 2018, and then reduced in the following year.
In value terms, button, needle, and pin production totaled $
in 2019. The total output value increased at an average annual rate of +
% from 2013 to 2019; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of
% y-o-y. Over the period under review, production hit record highs at $
in 2015; however, from 2016 to 2019, production failed to regain the momentum.




In value terms, button, needle, and pin production totaled $




Consumption
In 2019, after two years of growth, there was significant decline in consumption of fastener, button, needle, and pin, when its volume decreased by -
% to
tonnes. The total consumption volume increased at an average annual rate of +
% over the period from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of
% year-to-year. Over the period under review, consumption attained the peak volume at
tonnes in 2018, and then fell in the following year.
The size of the button, needle, and pin market in the U.S. contracted to $
in 2019, declining by -
% 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). In general, consumption, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of
% against the previous year. Button, needle, and pin consumption peaked at $
in 2018, and then dropped in the following year.





The size of the button, needle, and pin market in the U.S. contracted to $




Market Forecast
Driven by increasing demand for button, needle, and pin in the U.S., the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +
% for the period from 2019 to
, which is projected to bring the market volume to
tonnes by the end of
.




Market Structure
In 2019, the share of imports in total consumption accounted for
% in value terms and
% in physical terms. The share of imports decreased moderately (-
percentage point) over the period under review.



Trade Balance
This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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