USA: Although not big-ticket products, clothing fasteners, comprising of snaps, buttons, zippers, hooks, rivets, velcro and lacing, are nevertheless indispensable in the textile industry. Virtually every piece of garment has fasteners to secure them in place. From buttoning a shirt, zipping a coat, to hooking a loop closure on a shoe, these ubiquitous products are an indispensable part of every day modern life. Simple design advancements in clothing fasteners have over the decades helped revolutionize the art of garment designing, and have greatly impacted the manner in which clothing is made to fit the human body.
From metal clasps used by the Romans and Greeks to hold their intricately worn drapery at the shoulder to modern plastic interlocking slide and lock fasteners, textile fasteners have come a long way and today find use in a multitude of practical applications. Fortunes of the textile fasteners & needles market in the United States is closely tied to the health of the textile and clothing industry and therefore, any increase in sales of textiles/clothing translates into increased demand for fasteners and needles, and vice versa. Health of the textile industry, in turn, is highly dependent on the general, overall economic health, with rising standards of living, growing urbanization, rising disposable incomes, and per capita spends on clothing influencing demand in the industry.
The current deceleration in demand for garments/apparel as a result of the recent worldwide economic crisis and financial meltdown, has cast a dampener on the business climate for textile accessories and materials, including textile fasteners. Waning consumer confidence and cutbacks on discretionary spends have impacted the sales of apparel. A heavily traded commodity, global trade in textile also witnessed flagging growth with exports and imports slipping in comparison with previous years.
With textile production taking a hit, demand for fasteners has been steadily weakening. However, with the world economy showing signs of a much-awaited recovery, growth is expected to spring back into shape with the resurgence in the market’s growth inducing fundamentals. For instance, restoration of discretionary spends and personal incomes will spur spending on clothing/apparel thus reviving the textile industry and in the process the fasteners market. Saturating demand for textile fasteners and needles in the apparel/clothing industry in the United States is also expected to get a fresh lease of life with the rise in sewing as a hobby, and a stress buster activity. Growth in the number of individuals taking up sewing as a hobby bodes well for the textile fasteners & needles market, as it extends an additional growth avenue for manufacturers.
Growth in the market in short to medium term period will also be driven by product innovations at the manufacturers end. Innovations such as magnetic fabric fasteners, which provide better advantages to garment manufacturers as compared to traditional products, are expected to drive future demand in this market.
Players in the market include A+ Products Inc., AGH TRIMSOURCE, Catame Inc., Dotec Needle Co. Ltd., Lily Corporation, Prym Consumer USA Inc, Riri USA Inc., Shanghai Daoq Beads Co., Ltd., Shanghai Lian Feng Garment Accessories Co. Ltd., Shanghai Yusheng Knitting Needle Co., Ltd., Talon International Inc., TYT Trend Hong Kong Ltd., Velcro USA Inc., Wuxi Chaoqiang Adornment Co., Ltd., Yale Hook & Eye Co. Inc., and YKK (U.S.A.) Inc., among others.
The report titled “Textile Fasteners & Needles: A US Market Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of the industry, key market trends, issues, profiles of major players, and recent industry activity. The single segment report provides market estimates and projections for textile fasteners & needles in terms of annual dollar sales in US$ Million.
About Global Industry Analysts, Inc. Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.