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May 2023 Sees U.S. Aluminium Tube Exports Surge by 11% to $49M on Average

aluminium
Global Trade Daily, United states news

May 2023 Sees U.S. Aluminium Tube Exports Surge by 11% to $49M on Average

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U.S. Aluminium Tube Exports

In May 2023, exports of aluminium tubes, pipes and tube or pipe fittings from the United States expanded rapidly to 5.2K tons, growing by 12% on April 2023 figures. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when exports increased by 22% against the previous month.

In value terms, aluminium tube exports rose remarkably to $49M (IndexBox estimates) in May 2023. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in January 2023 when exports increased by 28% against the previous month.

Exports by Country

Mexico (3.7K tons) was the main destination for aluminium tube exports from the United States, with a 71% share of total exports. Moreover, aluminium tube exports to Mexico exceeded the volume sent to the second major destination, Canada (945 tons), fourfold.

From May 2022 to May 2023, the average monthly rate of growth in terms of volume to Mexico was relatively modest.

In value terms, Mexico ($29M) remains the key foreign market for aluminium tube exports from the United States, comprising 59% of total exports. The second position in the ranking was taken by Canada ($11M), with a 21% share of total exports.

From May 2022 to May 2023, the average monthly rate of growth in terms of value to Mexico was relatively modest.

Exports by Type

Aluminium; tubes and pipes (4.4K tons) was the largest type of aluminium tube exported from the United States, accounting for a 85% share of total exports. Moreover, aluminium; tubes and pipes exceeded the volume of the second product type, aluminium tube or pipe fittings (801 tons), sixfold.

From May 2022 to May 2023, the average monthly growth rate of the volume of export of aluminium; tubes and pipes was relatively modest.

In value terms, the most traded types of aluminium tubes, pipes and tube or pipe fittings in the United States were aluminium; tubes and pipes ($32M) and aluminium tube or pipe fittings ($17M).

Aluminium pipe fittings, with a CAGR of +0.7%, saw the highest growth rate of the value of exports, in terms of the main product categories over the period under review.

Export Prices by Country

In May 2023, the aluminium tube price amounted to $9,465 per ton (FOB, US), leveling off at the previous month. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in January 2023 an increase of 4.8% against the previous month. Over the period under review, the average export prices reached the peak figure at $10,001 per ton in November 2022; however, from December 2022 to May 2023, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In May 2023, the country with the highest price was Canada ($11,193 per ton), while the average price for exports to Mexico stood at $7,855 per ton.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.5%).

Source: IndexBox Market Intelligence Platform  

spring
Global Trade Daily, United states news

U.S. Imports of Metal Spring Washers Up 20% to $8.2M in May 2023

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U.S. Metal Spring Washer Imports

For the third month in a row, the United States recorded growth in supplies from abroad of iron or steel spring washers, which increased by 5.4% to 826 tons in May 2023. In general, imports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in April 2023 with an increase of 31% month-to-month.

In value terms, metal spring washer imports surged to $8.2M (IndexBox estimates) in May 2023. Over the period under review, imports, however, showed a slight contraction. The pace of growth appeared the most rapid in March 2023 with an increase of 21% month-to-month.

Imports by Country

China (293 tons), Germany (244 tons) and Taiwan (Chinese) (85 tons) were the main suppliers of metal spring washer imports to the United States, together accounting for 75% of total imports. Mexico, Italy, Japan and India lagged somewhat behind, together comprising a further 17%.

From May 2022 to May 2023, the biggest increases were in Mexico (with a CAGR of +0.2%), while purchases for the other leaders experienced a decline.

In value terms, Germany ($2.3M), Italy ($1.3M) and China ($928K) appeared to be the largest metal spring washer suppliers to the United States, with a combined 55% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +9.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In May 2023, the metal spring washer price amounted to $9,875 per ton (CIF, US), surging by 14% against the previous month. Over the period from May 2022 to May 2023, it increased at an average monthly rate of +1.4%. The most prominent rate of growth was recorded in December 2022 an increase of 29% month-to-month. Over the period under review, average import prices hit record highs at $10,457 per ton in March 2023; however, from April 2023 to May 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($34,045 per ton), while the price for China ($3,168 per ton) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Italy (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

motorcycle
Global Trade Daily, United states news

U.S. Motorcycle and Scooter Import Plummets 11%, Averaging $236M in May 2023

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U.S. Motorcycle And Scooter Imports

In May 2023, supplies from abroad of motorcycles and scooters decreased by -7.6% to 49K units for the first time since February 2023, thus ending a two-month rising trend. Over the period under review, imports recorded a slight reduction. The most prominent rate of growth was recorded in October 2022 when imports increased by 49% m-o-m. As a result, imports attained the peak of 75K units. From November 2022 to May 2023, the growth of imports failed to regain momentum.

In value terms, motorcycle and scooter imports fell to $236M (IndexBox estimates) in May 2023. Overall, imports saw a perceptible curtailment. The most prominent rate of growth was recorded in October 2022 with an increase of 50% month-to-month. As a result, imports attained the peak of $332M. From November 2022 to May 2023, the growth of imports remained at a lower figure.

Imports by Country

China (11K units), Austria (9.8K units) and Thailand (6.1K units) were the main suppliers of motorcycle and scooter imports to the United States, together comprising 55% of total imports. These countries were followed by Japan, India, Italy, Indonesia, Canada and Mexico, which together accounted for a further 37%.

From May 2022 to May 2023, the biggest increases were in India (with a CAGR of +4.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Austria ($48M), Canada ($38M) and Japan ($32M) were the largest motorcycle and scooter suppliers to the United States, together comprising 50% of total imports. These countries were followed by Thailand, Italy, India, Mexico, China and Indonesia, which together accounted for a further 35%.

Among the main suppliers, India, with a CAGR of +5.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Imports by Type

Motorcycles (including mopeds) and cycles; fitted with an auxiliary motor, reciprocating internal combustion piston engine, of cylinder capacity exceeding 50cc but not exceeding 250cc, with or without side-cars; side-cars (23K units), motorcycles (including mopeds) and cycles; fitted with an auxiliary motor, reciprocating internal combustion piston engine, of cylinder capacity exceeding 250cc but not exceeding 500cc, with or without side-cars; side-cars (13K units) and motorcycles (including mopeds) and cycles; fitted with auxiliary motor, with reciprocating internal combustion piston engine of a cylinder capacity exceeding 800cc, with or without side-cars; side-cars (9K units) were the main products of motorcycle and scooter imports to the United States, with a combined 93% share of total imports.

From May 2022 to May 2023, the biggest increases were in motorcycles (including mopeds) and cycles; fitted with an auxiliary motor, reciprocating internal combustion piston engine, of cylinder capacity exceeding 250cc but not exceeding 500cc, with or without side-cars; side-cars (with a CAGR of +0.1%), while purchases for the other products experienced a decline.

In value terms, motorcycles (including mopeds) and cycles; fitted with auxiliary motor, with reciprocating internal combustion piston engine of a cylinder capacity exceeding 800cc, with or without side-cars; side-cars ($117M) constituted the largest type of motorcycle and scooter supplied to the United States, comprising 50% of total imports. The second position in the ranking was taken by motorcycles (including mopeds) and cycles; fitted with an auxiliary motor, reciprocating internal combustion piston engine, of cylinder capacity exceeding 250cc but not exceeding 500cc, with or without side-cars; side-cars ($53M), with a 23% share of total imports. It was followed by motorcycles (including mopeds) and cycles; fitted with an auxiliary motor, reciprocating internal combustion piston engine, of cylinder capacity exceeding 50cc but not exceeding 250cc, with or without side-cars; side-cars, with a 17% share.

Import Prices by Country

In May 2023, the motorcycle and scooter price stood at $4,783 per unit (CIF, US), falling by -3.8% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 12% month-to-month. As a result, import price attained the peak level of $5.3M per thousand units. From March 2023 to May 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Canada ($20,797 per unit), while the price for China ($831 per unit) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Italy (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform 

september frozen mirrors unit copper blanket console
Global Trade Daily, United states news

U.S. Video Game Console Import Bottoms at $480M in May 2023

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U.S. Video Game Console Imports

In May 2023, approximately 4M units of video game consoles (not operated by means of payments) were imported into the United States; approximately reflecting the previous month. In general, imports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in August 2022 when imports increased by 34% against the previous month. Over the period under review, imports hit record highs at 8M units in September 2022; however, from October 2022 to May 2023, imports stood at a somewhat lower figure.

In value terms, video game console imports declined to $480M (IndexBox estimates) in May 2023. Over the period under review, imports showed a abrupt contraction. The most prominent rate of growth was recorded in January 2023 when imports increased by 38% against the previous month. Imports peaked at 1.4B units in November 2022; however, from December 2022 to May 2023, imports stood at a somewhat lower figure.

Imports by Country

In May 2023, China (3M units) constituted the largest video game console supplier to the United States, accounting for a 76% share of total imports. Moreover, video game console imports from China exceeded the figures recorded by the second-largest supplier, Japan (375K units), eightfold. Vietnam (283K units) ranked third in terms of total imports with a 7.1% share.

From May 2022 to May 2023, the average monthly rate of growth in terms of volume from China totaled -4.7%. The remaining supplying countries recorded the following average monthly rates of imports growth: Japan (+3.6% per month) and Vietnam (-9.2% per month).

In value terms, China ($347M) constituted the largest supplier of video game console to the United States, comprising 72% of total imports. The second position in the ranking was held by Vietnam ($62M), with a 13% share of total imports. It was followed by Malaysia, with a 9.5% share.

From May 2022 to May 2023, the average monthly rate of growth in terms of value from China totaled -6.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: Vietnam (-8.5% per month) and Malaysia (+43.6% per month).

Import Prices by Country

In May 2023, the video game console price stood at $120 per unit (CIF, US), dropping by -5.3% against the previous month. Over the period under review, the import price saw a slight decline. The growth pace was the most rapid in January 2023 when the average import price increased by 28% month-to-month. The import price peaked at $195 per unit in November 2022; however, from December 2022 to May 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($422 per unit), while the price for Japan ($26.9 per unit) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+10.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform  

frozen
Global Trade Daily, Market insight

A Comprehensive Guide for Successfully Entering the European Union Market with Frozen Fish

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Entering the European Union (EU) market with frozen fish products requires careful planning, market research, and understanding of the regulatory framework. This guide provides valuable information, official data sources, and assistance from authorities to help you develop a successful market entry strategy.

Understanding the European Union Market

The EU is one of the largest consumers of seafood products, including frozen fish. In 2022, several countries within the EU imported significant amounts of frozen fish. According to IndexBox market intelligence platform, the top five countries in terms of import value were Germany (USD 3.674 billion), Spain (USD 3.411 billion), France (USD 2.858 billion), Poland (USD 2.248 billion), and Italy (USD 2.147 billion).

Furthermore, the top five countries in terms of import prices for frozen fish were Luxembourg (USD 9.261 per kg), Austria (USD 7.584 per kg), Cyprus (USD 7.353 per kg), Finland (USD 6.654 per kg), and Belgium (USD 6.285 per kg).

Official Data Sources and Assistance

When entering the EU market, it is essential to have access to reliable data sources and seek assistance from relevant authorities. The following official data sources can provide valuable market insights:

  • Eurostat: Eurostat is the statistical office of the European Union. It provides a wide range of data on various aspects, including international trade, market trends, and consumer behavior.
  • European Market Observatory for Fisheries and Aquaculture Products (EUMOFA): EUMOFA is a comprehensive online platform that provides market analysis, price trends, and trade statistics for fish and aquaculture products within the EU.
  • National Statistical Institutes: Each EU member state has its own national statistical institute, which offers country-specific trade data and market insights. These institutes can provide valuable information on consumer preferences, distribution channels, and market dynamics.

In addition to accessing official data sources, it is crucial to seek assistance from relevant authorities. They can provide guidance on regulatory requirements, labeling, and certification. The following authorities can help you navigate the EU market:

  • European Commission (EC): The EC is responsible for enforcing EU regulations and policies. It provides guidance on market access, labeling, and food safety standards.
  • European Food Safety Authority (EFSA): EFSA is an EU agency that assesses food and drink safety. They provide scientific advice on risk assessment, ensuring the safety of products entering the EU market.
  • Chambers of Commerce: Chambers of Commerce in various EU member states offer business support services, including market-entry assistance, networking opportunities, and guidance on legal and regulatory matters.

Market Research and Analysis

Before entering the EU market, conducting thorough market research and analysis is crucial. This will help you understand consumer preferences, market trends, competitive landscape, and distribution channels. It is essential to identify target segments and tailor your products accordingly.

Consider the following factors during your market research:

  • Consumer Preferences: Analyze consumer preferences for frozen fish products, including preferred species, packaging formats, sustainability considerations, and dietary trends.
  • Market Trends: Stay updated on market trends, such as the growing demand for organic or sustainably sourced fish products, convenience-oriented packaging, and the rise of e-commerce.
  • Competitive Landscape: Identify key competitors, their market share, pricing strategies, and unique selling points. Study their distribution networks and customer relationships.
  • Distribution Channels: Understand the distribution channels for frozen fish products, such as supermarkets, specialty stores, restaurants, and e-commerce platforms. Identify potential partners and evaluate their capabilities.

Regulatory Compliance

Complying with EU regulations is essential for market entry success. Ensure your frozen fish products meet the following regulatory requirements:

  • Food Safety and Hygiene Regulations: Implement a robust food safety management system based on Hazard Analysis and Critical Control Points (HACCP) principles.
  • EU Common Fisheries Policy (CFP): Familiarize yourself with the CFP, which governs fishing and aquaculture activities within the EU. Adhere to sustainable fishing practices and ensure traceability of your products.
  • Labelling Requirements: Ensure accurate and compliant labeling, including product name, country of origin, allergen information, nutritional values, and storage instructions. Familiarize yourself with the specific labeling requirements of each EU member state.

Trade Shows and Exhibitions \

Participating in trade shows and exhibitions can provide valuable opportunities for networking, showcasing products, and conducting market research. Consider attending the following events related to frozen fish in the EU:

  • Seafood Expo Global: This event is one of the largest seafood trade shows, held annually in Brussels, Belgium. It attracts professionals from the industry worldwide and offers a platform for networking and business development.
  • International Seafood Show: The International Seafood Show takes place in Vigo, Spain, and showcases a wide range of seafood products, including frozen fish. It is an ideal event to connect with potential buyers and distributors.
  • European Seafood Exposition: Held in Brussels, the European Seafood Exposition focuses on seafood products from Europe and around the world. It serves as a meeting point for buyers, sellers, and industry professionals.

These trade shows and exhibitions provide a platform to connect with potential partners, discover market trends, and gain insights into customer preferences. They can play a significant role in your market entry strategy.

Conclusion

Entering the EU market with frozen fish requires careful planning, market research, and regulatory compliance. By utilizing official data sources, seeking assistance from relevant authorities, conducting thorough market research, and complying with regulatory requirements, you can develop a successful market entry strategy. Trade shows and exhibitions offer valuable opportunities for networking, brand promotion, and market research. With the right strategy and thorough preparation, you can tap into the vast potential of the European Union market for frozen fish.

Source: IndexBox Market Intelligence Platform  

yarn
Global Trade Daily, Imports/Exports, United states news

The World’s Best Import Markets for Cotton Yarn

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In today’s globalized economy, trade plays a vital role in the growth and development of nations. Various commodities are traded across borders, fueling economic activity and creating opportunities for businesses. One such commodity that holds significant importance in the textile industry is cotton yarn. Cotton yarn is a versatile and widely used material, making it a sought-after commodity in the global market.

When analyzing the import markets for cotton yarn, several factors come into play. These include the demand for textile products, the strength of the textile industry, and the competitive advantages of countries in terms of production capacity and cost-effectiveness.

China: Leading the Import Market

According to the latest data from IndexBox, China is the world’s largest import market for cotton yarn. In 2022, China imported cotton yarn worth USD 7.241 billion. This staggering figure indicates the strong demand for cotton yarn in the country.

The textile industry in China is vast and diverse, catering to both domestic and international markets. The country benefits from a large skilled labor force, advanced manufacturing technologies, and an extensive distribution network. These advantages enable China to be a dominant player in the global cotton yarn market.

China’s demand for cotton yarn is fueled by the growing textile and apparel industry, as well as the increasing consumption of cotton-based products. The country’s booming e-commerce sector further drives the demand for textile products, leading to a higher import value of cotton yarn.

Bangladesh: A Rising Import Market

Following China, Bangladesh comes in second place in terms of import value for cotton yarn. In 2022, Bangladesh imported cotton yarn worth USD 1.176 billion. This considerable import value highlights the country’s reliance on importing cotton yarn to meet its domestic demand.

Bangladesh has emerged as a significant player in the global textile and apparel industry in recent years. The country benefits from a large population, low labor costs, and a favorable investment climate for the textile sector. These factors have attracted foreign investment and enabled Bangladesh to build a robust textile industry.

However, despite having a significant production capacity for textiles, Bangladesh still relies on imports to meet the growing demand for cotton yarn. The country’s domestic cotton production is limited, making it heavily dependent on imports from countries like China, India, and Turkey.

Turkey: A Key Player in the Cotton Yarn Market

Turkey holds the third position in the global import market for cotton yarn. In 2022, the country imported cotton yarn worth USD 1.057 billion. Turkey’s textile industry is one of the largest and most developed in the region, making it an attractive market for cotton yarn suppliers.

The textile industry in Turkey has a strong historical background, dating back to centuries. Today, Turkey is known for its high-quality textile products and advanced production capabilities. The country has a well-established value chain, comprising of various stages, from spinning to weaving and finishing.

Turkey’s textile industry has experienced steady growth over the years, driven by domestic consumption as well as exports to other countries. To meet the growing demand, Turkey relies on importing cotton yarn from countries like the United States, India, and China. The import value of cotton yarn reflects the country’s need to augment its production capacities to cater to domestic and international markets.

Honduras: Emerging as a Significant Import Market

Honduras is another notable import market for cotton yarn, ranking fourth globally in terms of import value. In 2022, Honduras imported cotton yarn worth USD 673.065 million. The country’s textile and apparel industry has witnessed significant growth over the years, creating a high demand for cotton yarn.

Honduras benefits from proximity to the United States, which is a key market for its textile exports. The country enjoys preferential trade agreements, such as the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR), which provides tariff-free access to the U.S. market. These trade advantages have attracted foreign investment and fostered the development of the textile industry in Honduras.

However, like Bangladesh, Honduras relies on imports to meet its cotton yarn requirements. The country’s domestic cotton production is limited, making it reliant on imports from countries like the United States, Mexico, and China. The import value of cotton yarn reflects the country’s need to maintain a steady supply chain to support its growing textile industry.

Italy: A European Import Market for Cotton Yarn

Italy secures its position as one of the top import markets for cotton yarn, ranking fifth globally. In 2022, Italy imported cotton yarn worth USD 526.369 million. The country’s textile and apparel industry has a rich heritage, renowned for its quality and craftsmanship.

Italy’s textile industry specializes in high-end fashion and luxury goods, consistently catering to the demands of discerning consumers. The industry is characterized by small to medium-sized companies that focus on niche markets and value-added products.

However, Italy relies on imports to meet a portion of its cotton yarn requirements. The country’s production capacities are limited, making it dependent on imports from countries like India, Egypt, and Turkey. The import value of cotton yarn reflects Italy’s need to source high-quality raw materials to maintain its position as a leading textile producer.

Conclusion

The global import markets for cotton yarn are driven by the growing demand for textile products worldwide. China leads the import market, followed by Bangladesh, Turkey, Honduras, and Italy. These countries rely on imports to meet their cotton yarn requirements and support their textile industries.

With the textile industry continuing to expand and evolve, the import markets for cotton yarn are expected to experience further growth. Understanding the dynamics and trends within these markets is essential for industry participants to make informed decisions, develop effective strategies, and seize opportunities for growth and success.

Source: IndexBox Market Intelligence Platform

april
Global Trade Daily, United states news

 Chocolate and Confectionery Import in United States Drops to $430M in April 2023

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U.S. Chocolate And Confectionery Imports

In April 2023, approximately 92K tons of chocolate and confectionery were imported into the United States; dropping by -6.3% against the month before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when imports increased by 21% month-to-month.

In value terms, chocolate and confectionery imports contracted to $430M (IndexBox estimates) in April 2023. The total import value increased at an average monthly rate of +1.1% over the period from April 2022 to April 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in March 2023 when imports increased by 23% against the previous month.

Imports by Country

In April 2023, Canada (32K tons) constituted the largest chocolate and confectionery supplier to the United States, with a 35% share of total imports. Moreover, chocolate and confectionery imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (13K tons), threefold. The third position in this ranking was taken by Cote d’Ivoire (8.9K tons), with a 9.7% share.

From April 2022 to April 2023, the average monthly growth rate of volume from Canada was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (-2.7% per month) and Cote d’Ivoire (+2.8% per month).

In value terms, Canada ($160M) constituted the largest supplier of chocolate and confectionery to the United States, comprising 37% of total imports. The second position in the ranking was taken by Mexico ($52M), with a 12% share of total imports. It was followed by Cote d’Ivoire, with a 7.1% share.

From April 2022 to April 2023, the average monthly growth rate of value from Canada was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (+0.7% per month) and Cote d’Ivoire (+2.8% per month).

Import Prices by Country

In April 2023, the chocolate and confectionery price amounted to $4,698 per ton (CIF, US), standing approximately at the previous month. Over the period from April 2022 to April 2023, it increased at an average monthly rate of +1.0%. The most prominent rate of growth was recorded in September 2022 when the average import price increased by 6.4% month-to-month. As a result, import price attained the peak level of $4,796 per ton. From October 2022 to April 2023, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($6,366 per ton), while the price for Cote d’Ivoire ($3,436 per ton) was amongst the lowest.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by Ghana (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform 

varnishes
Global Trade Daily, United states news

How to Succeed in Introducing Paints and Varnishes into the US Market

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Entering the paints and varnishes market in the United States can be a lucrative opportunity for businesses. The U.S. is one of the largest consumers and importers of paints and varnishes globally, making it an attractive market for international players. However, navigating the market can be complex, and a well-defined market entry strategy is crucial for success.

Market Overview

The United States has a robust paints and varnishes market, driven by various factors such as increasing construction activities, infrastructure development, and the growth of the automotive industry. According to the data from the IndexBox platform, the United States recorded a consumption volume of 4.532 million tons in 2022, making it the largest consumer of paints and varnishes globally.

The U.S. paints and varnishes market is also a significant importer, with an import value of USD 1.243 billion in 2022. This indicates the potential for international companies to enter the market and supply their products to meet the growing demand.

Market Entry Strategy

1. Market Research and Analysis:

Conduct thorough market research to understand the current dynamics, trends, and consumer preferences in the U.S. paints and varnishes market. Utilize market intelligence platforms like IndexBox to gather official data and insights.

2. Regulatory Compliance:

Familiarize yourself with the regulatory requirements and standards for paints and varnishes in the United States. Ensure that your products meet all the necessary quality and safety standards set by the authorities.

3. Distribution Channels:

Identify the most effective distribution channels to reach your target customers. This could include partnering with local distributors, wholesalers, or establishing your own distribution network.

4. Pricing Strategy:

Develop a competitive pricing strategy based on the market dynamics and competition. Consider factors such as import prices, domestic pricing, and the value proposition of your products.

5. Marketing and Promotion:

Create a comprehensive marketing and promotion plan to raise awareness about your brand and products. Leverage digital marketing channels, trade publications, and participate in industry-specific trade shows and exhibitions.

Official Data Sources and Authorities

When entering the U.S. market for paints and varnishes, it is essential to rely on official data sources and seek assistance from relevant authorities. Here are some key sources and authorities:

U.S. Census Bureau: The U.S. Census Bureau provides valuable data on imports, exports, and trade statistics. It can help you understand the market size, trends, and competitive landscape.

Environmental Protection Agency (EPA): The EPA regulates the environmental impact of paints and varnishes. Familiarize yourself with their guidelines and compliance requirements.

Occupational Safety and Health Administration (OSHA): OSHA sets safety standards for workers in the paints and varnishes industry. Ensure that your operations and products comply with their regulations.

National Paint and Coatings Association (NPCA): NPCA is a trade association representing the paints and coatings industry. They can provide valuable insights, networking opportunities, and industry-specific resources.

Trade Shows and Exhibitions

Participating in trade shows and exhibitions is an excellent way to showcase your products, network with industry professionals, and gain exposure in the U.S. market. Here is a list of some prominent trade shows and exhibitions related to paints and varnishes:

National Hardware Show: This annual event showcases a wide range of hardware and home improvement products, including paints and varnishes.

GlobalShop: GlobalShop is a leading trade show for retail design, merchandising, and shopper marketing. It attracts professionals from various industries, including paints and coatings.

CoatingsTech Conference: This conference focuses on the latest innovations, technologies, and trends in the coatings industry. It provides a platform for knowledge sharing and networking.

Architectural Digest Design Show: This premier design show features a curated selection of products from leading brands, including paints and coatings for architectural purposes.

Make sure to research and select the most relevant trade shows and exhibitions based on your target market and product offerings.

Conclusion

Entering the paints and varnishes market in the United States requires a well-planned market entry strategy. By conducting thorough market research, complying with regulations, identifying effective distribution channels, and implementing a comprehensive marketing plan, businesses can position themselves for success. Utilize official data sources and seek assistance from relevant authorities to ensure compliance and stay updated with market trends. Participating in trade shows and exhibitions can also provide valuable exposure and networking opportunities. With the right strategy and approach, businesses can tap into the immense potential of the U.S. paints and varnishes market.

Source: IndexBox Market Intelligence Platform

frame
Global Trade Daily, United states news

Spectacle Frame Import in United States Plummets 14% to $94M in April 2023

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U.S. Spectacle Frame Imports

Spectacle frame imports into the United States amounted to 7.1M units in April 2023, approximately reflecting the previous month’s figure. Over the period under review, imports, however, continue to indicate a mild reduction. The pace of growth appeared the most rapid in June 2022 when imports increased by 31% month-to-month. As a result, imports reached the peak of 10M units. From July 2022 to April 2023, the growth of imports failed to regain momentum.

In value terms, spectacle frame imports contracted to $94M (IndexBox estimates) in April 2023. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in March 2023 when imports increased by 20% m-o-m. Imports peaked at 115M units in October 2022; however, from November 2022 to April 2023, imports failed to regain momentum.

 

Imports by Country

In April 2023, China (5.5M units) constituted the largest spectacle frame supplier to the United States, with a 77% share of total imports. Moreover, spectacle frame imports from China exceeded the figures recorded by the second-largest supplier, Italy (665K units), eightfold. The third position in this ranking was held by Taiwan (Chinese) (203K units), with a 2.9% share.

From April 2022 to April 2023, the average monthly growth rate of volume from China totaled -1.9%. The remaining supplying countries recorded the following average monthly rates of imports growth: Italy (-0.1% per month) and Taiwan (Chinese) (-4.3% per month).

In value terms, China ($41M), Italy ($34M) and Japan ($4.6M) appeared to be the largest spectacle frame suppliers to the United States, with a combined 84% share of total imports.

Among the main suppliers, Italy, with a CAGR of +0.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Imports by Type

Plastic frames and mountings for spectacles and goggles (4.5M units) and non-plastic frames and mountings for spectacles and goggles (2.6M units) were the main products of spectacle frame imports to the United States.

From April 2022 to April 2023, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by spectacle plastic frame (with a CAGR of -1.4%).

In value terms, plastic frames and mountings for spectacles and goggles ($60M) and non-plastic frames and mountings for spectacles and goggles ($34M) were the most imported types of frames and mountings for spectacles, goggles or the like in the United States.

Import Prices by Country

In April 2023, the spectacle frame price amounted to $13.3 per unit (CIF, US), shrinking by -15.1% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 19% month-to-month. As a result, import price reached the peak level of $15,622 per thousand units, and then fell sharply in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($51.8 per unit), while the price for Taiwan (Chinese) ($3.4 per unit) was amongst the lowest.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by Italy (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform 

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Global Trade Daily, Imports/Exports, United states news

 Smoothing Iron Import in United States Soars 30%, Averaging $12M in April 2023

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U.S. Smoothing Iron Imports

In April 2023, approximately 1.3M units of electric smoothing irons were imported into the United States; picking up by 18% against March 2023 figures. In general, total imports indicated mild growth from April 2022 to April 2023: its volume increased at an average monthly rate of +1.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on April 2023 figures, imports increased by +58.1% against February 2023 indices. The most prominent rate of growth was recorded in May 2022 with an increase of 68% against the previous month. As a result, imports reached the peak of 1.9M units. From June 2022 to April 2023, the growth of imports remained at a lower figure.

In value terms, smoothing iron imports skyrocketed to $12M (IndexBox estimates) in April 2023. Overall, total imports indicated slight growth from April 2022 to April 2023: its value increased at an average monthly rate of +1.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on April 2023 figures, imports increased by +39.7% against February 2023 indices. The most prominent rate of growth was recorded in May 2022 when imports increased by 81% m-o-m.

Over the period under review, imports attained the peak figure at 19M units in June 2022; however, from July 2022 to April 2023, imports stood at a somewhat lower figure.

Imports by Country

In April 2023, China (1.3M units) was the main smoothing iron supplier to the United States, with a approximately 97% share of total imports.

From April 2022 to April 2023, the average monthly rate of growth in terms of volume from China totaled +1.2%.

In value terms, China ($11M) constituted the largest supplier of smoothing iron to the United States.

From April 2022 to April 2023, the average monthly growth rate of value from China was relatively modest.

Import Prices by Country

In April 2023, the smoothing iron price stood at $9.1 per unit (CIF, US), with an increase of 9.8% against the previous month. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in June 2022 an increase of 11% against the previous month. Over the period under review, average import prices hit record highs at $11.2 per unit in December 2022; however, from January 2023 to April 2023, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From April 2022 to April 2023, the rate of growth in terms of prices for China amounted to -0.2% per month.

Source: IndexBox Market Intelligence Platform