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Significant Decrease in U.S. Sugar Cane Price to $663 per Ton

sugar
Global Trade Daily, United states news

Significant Decrease in U.S. Sugar Cane Price to $663 per Ton

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U.S. Sugar Cane Import Price in August 2023

In August 2023, the sugar cane price stood at $663 per ton (CIF, US), reducing by -19.4% against the previous month. Overall, the import price continues to indicate a perceptible slump. The pace of growth appeared the most rapid in December 2022 when the average import price increased by 119% m-o-m. As a result, import price attained the peak level of $1,365 per ton. From January 2023 to August 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Mexico ($2,173 per ton), while the price for Vietnam totaled $702 per ton.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Mexico (+16.8%), while the prices for the other major suppliers experienced a decline.

U.S. Sugar Cane Imports

For the third month in a row, the United States recorded growth in purchases abroad of sugar cane, which increased by 25% to 615 tons in August 2023. Over the period under review, imports showed a prominent increase. The growth pace was the most rapid in September 2022 with an increase of 323% month-to-month.

In value terms, sugar cane imports totaled $408K (IndexBox estimates) in August 2023. In general, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in March 2023 when imports increased by 347% m-o-m.

U.S. Sugar Cane Imports by Country

In August 2023, Vietnam (381 tons) constituted the largest supplier of sugar cane to the United States, accounting for a 62% share of total imports. Moreover, sugar cane imports from Vietnam exceeded the figures recorded by the second-largest supplier, Brazil (131 tons), threefold. The third position in this ranking was held by Thailand (84 tons), with a 14% share.

From August 2022 to August 2023, the average monthly growth rate of volume from Vietnam amounted to +12.3%. The remaining supplying countries recorded the following average monthly rates of imports growth: Brazil (+34.6% per month) and Thailand (+18.5% per month).

In value terms, Vietnam ($268K) constituted the largest supplier of sugar cane to the United States, comprising 66% of total imports. The second position in the ranking was taken by Brazil ($106K), with a 26% share of total imports. It was followed by Thailand, with a 4.7% share.

From August 2022 to August 2023, the average monthly rate of growth in terms of value from Vietnam totaled +11.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: Brazil (+38.7% per month) and Thailand (-2.8% per month).

Source: IndexBox Market Intelligence Platform 

tyre import
Global Trade Daily, Imports/Exports, United states news

Top Global Import Markets for Tires

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The tire industry has witnessed significant growth over the years, driven by the increasing demand for automobiles and the expanding global automotive industry. As a result, tire manufacturers around the world are constantly looking to tap into the best import markets for tires to ensure their products reach a wider audience.

The IndexBox Market Intelligence Platform

When it comes to analyzing international trade data and identifying the top import markets for a specific product, the IndexBox market intelligence platform is an invaluable tool. This platform provides comprehensive and up-to-date data on global trade, including import values, market trends, and key statistics. Based on the data sourced from the IndexBox platform, we have compiled a list of the top 10 countries with the highest import values for tyres in 2022.

1. United States – $19.2 billion

2. Germany – $7.6 billion

3. France – $4.2 billion

4. Mexico – $4.0 billion

5. Canada – $3.5 billion

6. Netherlands – $3.5 billion

7. United Kingdom – $3.0 billion

8. Australia – $2.9 billion

9. Italy – $2.8 billion

10. Spain – $2.0 billion

#1 United States

The United States takes the top spot with an import value of $19.2 billion in 2022. This can be attributed to the country’s massive automobile industry, which is one of the largest in the world. The demand for tires in the US remains high, primarily due to the large number of vehicles on the road and the need for replacement tires.

#2 Germany

Germany follows closely, with an import value of $7.6 billion. The country is renowned for its strong automotive industry and is home to some of the world’s leading automobile manufacturers. The high demand for tires in the domestic market, as well as the presence of multiple global automotive players, contributes to Germany’s significant import value for tires.

#3 France

France ranks third, with an import value of $4.2 billion. The country has a well-established automotive industry and a large consumer base, driving the demand for tires. Furthermore, France is known for its emphasis on road safety, leading to a continuous replacement of worn-out tires and an increased import value.

#4 Mexico

Mexico stands at fourth place, with an import value of $4.0 billion. The country’s automotive industry has experienced significant growth in recent years, attracting investments from global manufacturers. As a result, the demand for tires has increased, bolstering the import market for this product.

#5 Canada

Canada’s import value for tires is $3.5 billion, placing it in the fifth position. The country’s automotive industry, although smaller compared to its southern neighbor, still accounts for a significant market share. The demand for tires in Canada remains steady, driving imports from various global suppliers.

#6 Netherlands

Netherlands takes the sixth spot on the list, with an import value of $3.5 billion. The country’s strategic location and well-developed logistics infrastructure make it an attractive hub for international trade. The demand for tires in the Netherlands is primarily driven by its role as a distribution center for the wider European market.

#7 United Kingdom

The United Kingdom holds the seventh position with an import value of $3.0 billion. Despite the challenges posed by Brexit, the UK remains a significant market for tire imports. The country’s automotive industry and a large car parc contribute to the consistent demand for tires.

#8 Australia

Australia’s import value for tires stands at $2.9 billion, securing it the eighth position. The country has a thriving automotive industry and a vast land mass, which requires a substantial number of vehicles. This leads to a continuous need for tires and contributes to the import market’s growth.

#9 Italy

Italy ranks ninth on the list, with an import value of $2.8 billion. The country has a strong tradition of automobile manufacturing and is home to several renowned car brands. The presence of these manufacturers, coupled with domestic demand, contributes to Italy’s import market for tires.

#10 Spain

Spain completes the top 10 with an import value of $2.0 billion. The country’s automotive industry has experienced steady growth, with various manufacturers establishing their production facilities in Spain. The demand for tires in the domestic market and the need for exports to other European countries contribute to Spain’s import market for this product.

In conclusion, the global import market for tires is dominated by countries with well-established automotive industries and a large consumer base. The United States leads the pack, followed by Germany and France. This demand for tires is backed by their robust domestic automotive industries and the need for replacement tires. Furthermore, emerging economies like Mexico, Canada, and Australia also contribute significantly to the import market, driven by the growth of their automotive sectors.

The IndexBox market intelligence platform delivers valuable insights into these markets, helping manufacturers and traders make informed decisions and capitalize on the opportunities available.

Source: IndexBox Market Intelligence Platform

toothpaste
Global Trade Daily, United states news

Top Import Toothpaste Markets Worldwide

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Toothpaste is an essential component of everyone’s daily hygiene routine. With the global oral care industry continually expanding, the demand for toothpaste has been on the rise. As a result, toothpaste import markets have become highly competitive and diverse. In this article, we will explore the world’s best import markets for toothpaste based on import value. The data provided is sourced from the IndexBox market intelligence platform, which offers comprehensive and reliable market statistics.

1. United States – $250.1 Million USD in 2022

The United States holds the top spot for the highest import value of toothpaste. With a staggering $250.1 million USD in 2022, the US market demonstrates its significant demand for quality oral care products. The American population’s oral hygiene consciousness and overall healthcare awareness contribute to this high import value.

2. Germany – $215.8 Million USD in 2022

Germany, known for its strong economy and high living standards, ranks second in the world’s best import markets for toothpaste. With an import value of $215.8 million USD in 2022, German consumers prioritize oral health and have a preference for high-quality toothpaste products.

3. United Kingdom – $204.7 Million USD in 2022

The United Kingdom holds the third position with an import value of $204.7 million USD in 2022. The British market’s interest in dental care products, along with the increasing awareness of oral health, drives the demand for toothpaste in the country.

4. China – $197.6 Million USD in 2022

China, with its massive population and growing middle-class segment, is a key player in the toothpaste import market. The country ranks fourth and imported toothpaste worth $197.6 million USD in 2022. The rising living standards and rising oral care awareness among urban consumers have significantly contributed to this import value.

5. Canada – $181.8 Million USD in 2022

Canada rounds off the top five import markets for toothpaste with an import value of $181.8 million USD in 2022. Canadians prioritize good oral hygiene, and the availability of various toothpaste options from both domestic and international sources fulfills their demand.

In conclusion, the world’s best import markets for toothpaste, based on import value, include the United States, Germany, the United Kingdom, China, and Canada. These countries high import values reflect the growing demand for toothpaste and the increasing importance placed on oral hygiene. Manufacturers and exporters should utilize market intelligence platforms like IndexBox to gain valuable insights and maximize their opportunities in these markets.

Source: IndexBox Market Intelligence Platform

july
Global Trade Daily, United states news

July 2023 Sees Import of Ball Bearing Parts in United States Decrease to $39M

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U.S. Ball Bearing Parts Imports

In July 2023, imports of parts of ball or roller bearings into the United States shrank slightly to 6.7K tons, dropping by -1.7% compared with June 2023. In general, imports showed a slight decline. The most prominent rate of growth was recorded in June 2023 when imports increased by 25% m-o-m.

In value terms, ball bearing parts imports reduced to $39M (IndexBox estimates) in July 2023. Over the period under review, imports recorded a slight slump. The pace of growth appeared the most rapid in March 2023 when imports increased by 13% against the previous month.

Imports by Country

In July 2023, Japan (3.6K tons) constituted the largest ball bearing parts supplier to the United States, with a 54% share of total imports. Moreover, ball bearing parts imports from Japan exceeded the figures recorded by the second-largest supplier, China (963 tons), fourfold. The third position in this ranking was held by India (867 tons), with a 13% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of volume from Japan stood at +3.2%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (-4.2% per month) and India (-4.9% per month).

In value terms, Japan ($12M), India ($6.1M) and China ($4.6M) constituted the largest ball bearing parts suppliers to the United States, with a combined 58% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of +0.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In July 2023, the ball bearing parts price amounted to $5,863 per ton (CIF, US), with a decrease of -5.1% against the previous month. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 9.5% m-o-m. Over the period under review, average import prices attained the peak figure at $7,566 per ton in May 2023; however, from June 2023 to July 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Romania ($50,074 per ton), while the price for Japan ($3,286 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Romania (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform 

july
Global Trade Daily, United states news

July 2023 Sees U.S. Narrow Fabric Import Decline by 3% to $99M

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 U.S. Narrow Fabric Imports

In July 2023, purchases abroad of narrow fabrics and schiffli machine embroidery decreased by -2.9% to 17M square meters for the first time since February 2023, thus ending a four-month rising trend. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in August 2022 with an increase of 17% against the previous month. As a result, imports reached the peak of 21M square meters. From September 2022 to July 2023, the growth of imports remained at a lower figure.

In value terms, narrow fabric imports shrank slightly to $99M (IndexBox estimates) in July 2023. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 when imports increased by 21% against the previous month. As a result, imports reached the peak of $126M. From September 2022 to July 2023, the growth of imports remained at a lower figure.

Imports by Country

Mexico (4.6M square meters), China (3.3M square meters) and Taiwan (Chinese) (2.1M square meters) were the main suppliers of narrow fabric imports to the United States, with a combined 59% share of total imports.

From July 2022 to July 2023, the biggest increases were in Mexico (with a CAGR of +1.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest narrow fabric suppliers to the United States were Mexico ($28M), China ($16M) and Taiwan (Chinese) ($13M), together accounting for 57% of total imports.

Mexico, with a CAGR of +1.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In July 2023, the narrow fabric price amounted to $5.8 per square meter (CIF, US), almost unchanged from the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in May 2023 when the average import price increased by 14% against the previous month. Over the period under review, average import prices attained the peak figure at $6.0 per square meter in August 2022; however, from September 2022 to July 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($6.1 per square meter), while the price for Japan ($3.8 per square meter) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by India (+0.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform  

july
Global Trade Daily, United states news

July 2023 Sees a Surge in Beer Imports to the United States, With a Total Worth of $673M

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U.S. Beer Imports

Beer imports into the United States rose notably to 458M litres in July 2023, growing by 6.7% on the previous month’s figure. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in March 2023 when imports increased by 27% against the previous month. Imports peaked in July 2023.

In value terms, beer imports rose remarkably to $673M (IndexBox estimates) in July 2023. Overall, imports saw a slight increase. The most prominent rate of growth was recorded in March 2023 when imports increased by 30% against the previous month. Over the period under review, imports reached the peak figure in July 2023.

Imports by Country

In July 2023, Mexico (381M litres) constituted the largest beer supplier to the United States, accounting for a 83% share of total imports. Moreover, beer imports from Mexico exceeded the figures recorded by the second-largest supplier, the Netherlands (35M litres), more than tenfold. The third position in this ranking was held by Canada (12M litres), with a 2.5% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of volume from Mexico stood at +1.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: the Netherlands (-1.4% per month) and Canada (-0.7% per month).

In value terms, Mexico ($572M) constituted the largest supplier of beer to the United States, comprising 85% of total imports. The second position in the ranking was held by the Netherlands ($52M), with a 7.7% share of total imports. It was followed by Ireland, with a 1.7% share.

From July 2022 to July 2023, the average monthly growth rate of value from Mexico stood at +1.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: the Netherlands (-2.0% per month) and Ireland (+0.9% per month).

Import Prices by Country

In July 2023, the beer price stood at $1.5 per litre (CIF, US), standing approximately at the previous month. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 2.3% m-o-m. The import price peaked in July 2023.

Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($1.5 per litre), while the price for Canada ($808 per thousand litres) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Ireland (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

silicone
Global Logistics, Global Trade Daily, United states news

Market Entry Strategy for Silicone in the United States

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Entering the silicone market in the United States requires a well-planned strategy that leverages available data, official sources, and assistance from authorities. This guide provides insights into the market, including data from the IndexBox market intelligence platform, along with a list of trade shows and exhibitions that can facilitate market entry.

Understanding the Market

Silicone is a versatile material widely used in various industries, including automotive, construction, electronics, healthcare, and consumer goods. The United States is a significant importer of silicone, with an import value of $1.2 billion in 2022.

Top Importing Countries

When formulating a market entry strategy, it is crucial to consider the top importing countries of silicone to the United States. According to the IndexBox data, the top five importing countries in 2022 were:

  1. Germany – $288.8 million
  2. China – $255.0 million
  3. Japan – $201.7 million
  4. Canada – $109.7 million
  5. Thailand – $67.9 million

Data Sources and Authorities

For accurate and reliable information, it is advisable to rely on official data sources and seek support from relevant authorities. The IndexBox market intelligence platform is an excellent resource to access comprehensive market data, including import values and prices. However, it should be noted that the excessive use of this platform in the guide is not recommended. Other official sources such as the U.S. Census Bureau, U.S. International Trade Commission, and U.S. Department of Commerce can provide valuable insights into the market.

Market Entry Strategy

The following steps can guide a successful market entry strategy for silicone in the United States:

1. Market Research

Conduct thorough market research to identify target segments, understand customer needs, and analyze competitors. Leverage data from official sources and market intelligence platforms to gain insights into market trends, demand, and growth potential.

2. Regulatory Compliance

Familiarize yourself with the regulatory requirements of importing silicone into the United States. Ensure compliance with relevant standards, certifications, and labeling regulations to meet the expectations of customers and authorities.

3. Distribution Channels

Identify appropriate distribution channels based on the target market segment. Collaborate with local distributors, wholesalers, or retailers to reach customers effectively. Establish strategic partnerships to expand the market reach.

4. Marketing and Promotion

Create a comprehensive marketing and promotion plan to raise awareness about your silicone products. Leverage digital marketing strategies, including social media, content marketing, and search engine optimization, to reach the target audience. Participate in industry-specific publications and platforms to showcase your offerings.

5. Networking and Trade Shows

Develop a strong network within the industry by attending trade shows, exhibitions, and conferences. These events offer opportunities to connect with potential customers, partners, and industry experts. The following trade shows and exhibitions can be helpful in the silicone market:

  • International Silicone Conference
  • Silicone Elastomers World Summit
  • Silicone and TPE World Summits
  • International Silicone & TPE Expo

6. Pricing Strategy

Set competitive pricing based on import prices and market demand. Benchmark your prices against the industry average to ensure affordability and attract customers.

7. Customer Support

Offer excellent customer support to build trust and maintain long-term relationships. Provide after-sales services, technical assistance, and warranty options to enhance customer satisfaction.

Conclusion

Entering the silicone market in the United States requires careful planning and market analysis. By utilizing official data sources, seeking help from authorities, and leveraging insights from the IndexBox market intelligence platform, businesses can develop a successful market entry strategy. Engaging in trade shows and exhibitions facilitates networking and exposure, enabling companies to establish their presence in the competitive silicone market.

Source: IndexBox Market Intelligence Platform  

import
Global Trade Daily, United states news

Top Import Markets for Yams Around the Globe

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Yams are a versatile and nutritious root vegetable that is grown in various parts of the globe. They are especially popular in Africa, Asia, and the Caribbean, where they are a staple food in many traditional dishes.

However, yams are not only consumed in their country of origin but are also in high demand in import markets around the world. In this article, we will explore the top import markets for yams, highlighting key statistics and market trends.

1. United States

The United States is the leading import market for yams, with an import value of 79.458 million USD in 2022 (IndexBox data). Yams are popular among a diverse range of ethnic communities in the country, including African, Caribbean, and Asian communities.

The demand for yams in the United States has been steadily increasing over the years. This can be attributed to several factors, including the growing multicultural population, the popularity of international cuisines, and the increasing awareness of the health benefits of yams.

In recent years, the United States has also witnessed a rise in the number of Asian grocery stores and specialty food markets, which cater to specific ethnic communities. These stores often import yams directly from producing countries to meet the demand of their customers.

2. Canada

Canada is another significant import market for yams, with an import value of 32.002 million USD in 2022. Yams are particularly popular in Canada’s diverse immigrant communities.

Similar to the United States, Canada has experienced a steady increase in the demand for yams in recent years. The multicultural nature of the country has played a significant role in driving this demand, as immigrants bring their food traditions and preferences with them.

In addition to its immigrant population, Canada also has a growing health-conscious consumer base. Yams are valued for their high nutritional content and are often perceived as a healthier alternative to other starchy vegetables.

3. United Kingdom

Yams are also highly sought after in the United Kingdom, with an import value of 13.277 million USD in 2022. The demand for yams has been steadily increasing in the UK, primarily driven by the country’s diverse immigrant communities and the popularity of international cuisines.

The United Kingdom has a long history of cultural exchange and has been heavily influenced by its former colonies. This has resulted in the integration of various cuisines and food traditions, including those that incorporate yams as a key ingredient.

The popularity of yams in the United Kingdom is evident in the thriving African and Caribbean food markets, where yams are often imported to meet the demand of the local population. Yams are an essential component of dishes such as Jollof rice, a popular West African dish, and the traditional Caribbean dish, Ackee and Saltfish.

4. Taiwan, Chinese

Taiwan is a significant import market for yams, with an import value of 11.55 million USD in 2022. Yams are a common ingredient in Taiwanese cuisine and are used in various dishes, including soups, stews, and desserts.

Yams are highly valued in Taiwanese culture for their nutritional properties and are often considered a healthy addition to meals. Taiwanese consumers also appreciate the versatility of yams, as they can be prepared in numerous ways and incorporated into both sweet and savory dishes.

In recent years, Taiwan has witnessed a growing trend of health-conscious eating, with consumers seeking out natural, nutritious ingredients. Yams, with their low fat and high fiber content, have emerged as a popular choice among health-conscious Taiwanese consumers.

5. France

France is another significant market for yams, with an import value of 7.975 million USD in 2022. Yams are valued for their unique taste and texture, making them a popular ingredient in French cuisine.

French cuisine is renowned for its emphasis on quality ingredients and the use of fresh produce. Yams, with their distinct flavor and versatility, have found a place in both traditional and modern French dishes.

The demand for yams in France is not only driven by the local population but also by the growing popularity of Caribbean and African cuisines. French consumers are increasingly experimenting with international flavors and incorporating yams into their culinary repertoire.

In conclusion, yams have become a sought-after ingredient in various import markets around the world. The demand for yams is driven by factors such as growing multicultural populations, the popularity of international cuisines, and increasing awareness of their health benefits.

The top import markets for yams, as highlighted by the IndexBox market report, include the United States, Canada, the United Kingdom, Taiwan (Chinese), and France. These countries have witnessed a steady increase in the import value of yams, reflecting the global popularity of this versatile root vegetable.

As the demand for yams continues to rise, it is crucial for producers and exporters to understand the preferences and requirements of these import markets. By catering to the unique needs of each country, yam producers can ensure the success of their exports and contribute to the growth of the global yam market.

Source: IndexBox Market Intelligence Platform  

fiber
Global Trade Daily, United states news

Guide on How to Start a Glass Fiber Business in the United States

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Starting a business in the glass fiber market can be a profitable venture, given the growing demand for this material across various industries. This guide will provide you with valuable information on how to enter the glass fiber market in the United States, including official data sources and assistance from local authorities.

Step 1: Market Research and Analysis

Before starting your business, it is crucial to conduct thorough market research and analysis. This will help you understand the current state of the glass fiber market, including consumption volume, import and export data, and market trends. The IndexBox market intelligence platform is an excellent resource for obtaining accurate and up-to-date data on the glass fiber market in the United States. According to IndexBox data, the consumption volume of glass fiber in the United States in 2022 was 360.8 thousand tons. The import value was 777.4 million USD, with an import price of 4.0 USD per kg. On the other hand, the export value was 981.2 million USD, with an export price of 10.2 USD per kg. These figures indicate a significant market potential for glass fiber businesses.

Step 2: Business Plan and Legal Requirements

Once you have gathered sufficient market data, it is time to develop a comprehensive business plan. Your business plan should outline your goals, target market, marketing strategies, financial projections, and operational details. Additionally, you need to consider the legal requirements for starting a business in the glass fiber industry, such as permits, licenses, and regulations specific to this sector. It is advisable to seek guidance from local authorities and business support organizations to ensure compliance.

Step 3: Supplier and Manufacturer Selection

The next crucial step is to identify reliable suppliers and manufacturers of glass fiber. Research and establish partnerships with companies known for their high-quality products, competitive pricing, and reliable delivery schedules. Building a strong supply chain is essential for maintaining a steady inventory and meeting the demands of your customers.

Step 4: Product Differentiation and Marketing

In a competitive market like glass fiber, product differentiation is key to attracting customers. Identify unique selling points for your products, such as superior quality, customized solutions, or eco-friendly manufacturing processes. Develop a robust marketing strategy, including online and offline channels, to reach your target customers effectively.

Step 5: Establishing Distribution Channels

To ensure efficient product distribution, you need to establish effective distribution channels. Identify potential distributors, wholesalers, or retailers who can help you reach a wider customer base. Networking and attending industry trade shows and exhibitions can also provide valuable opportunities to connect with potential partners and customers.

Step 6: Continuous Improvement and Adaptation

The glass fiber market is constantly evolving, and it is essential to stay updated with the latest industry trends, technological advancements, and customer preferences. Continuously invest in research and development to improve product quality, explore new applications, and identify emerging market demands.

Conclusion

Entering the glass fiber market in the United States requires careful planning, market analysis, and compliance with legal requirements. By utilizing resources such as the IndexBox market intelligence platform and seeking assistance from local authorities, you can establish a successful and profitable glass fiber business. Remember to conduct thorough market research, develop a comprehensive business plan, and continuously strive for improvement to stay ahead in this competitive industry.

Source: IndexBox Market Intelligence Platform 

computer
Global Trade Daily, United states news

Average Price of U.S. Computer Storage Devices Is $190 per Unit

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U.S. Computer Storage Device Import Price in July 2023

In July 2023, the computer storage device price stood at $190 per unit (CIF, US), remaining stable against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in September 2022 an increase of 15% against the previous month. Over the period under review, average import prices reached the peak figure at $250 per unit in October 2022; however, from November 2022 to July 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Thailand ($145 per unit), while the price for China ($66.4 per unit) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.3%), while the prices for the other major suppliers experienced a decline.

U.S. Computer Storage Device Imports

In July 2023, overseas purchases of computer storage devices decreased by -15.9% to 2.6M units, falling for the second consecutive month after two months of growth. In general, imports recorded a noticeable curtailment. The pace of growth was the most pronounced in February 2023 when imports increased by 28% against the previous month. Imports peaked at 5.2M units in August 2022; however, from September 2022 to July 2023, imports failed to regain momentum.

In value terms, computer storage device imports declined rapidly to $502M (IndexBox estimates) in July 2023. Overall, imports showed a deep setback. The growth pace was the most rapid in April 2023 when imports increased by 19% m-o-m. Imports peaked at 1.1B units in October 2022; however, from November 2022 to July 2023, imports failed to regain momentum.

U.S. Computer Storage Device Imports by Country

In July 2023, Thailand (1.8M units) constituted the largest computer storage device supplier to the United States, with a 67% share of total imports. Moreover, computer storage device imports from Thailand exceeded the figures recorded by the second-largest supplier, the Philippines (280K units), sixfold. The third position in this ranking was taken by China (251K units), with a 9.5% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of volume from Thailand amounted to -4.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: the Philippines (-4.2% per month) and China (-5.6% per month).

In value terms, Thailand ($254M) constituted the largest supplier of computer storage device to the United States, comprising 51% of total imports. The second position in the ranking was taken by the Philippines ($24M), with a 4.9% share of total imports. It was followed by Taiwan (Chinese), with a 4% share.

From July 2022 to July 2023, the average monthly growth rate of value from Thailand totaled -6.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: the Philippines (-9.1% per month) and Taiwan (Chinese) (-2.4% per month).

Source: IndexBox Market Intelligence Platform