Despite a decline in overall imports, the United States experienced a remarkable surge in the import of textile products and articles for technical uses, showcasing the resilience of the technical textiles sector. In a promising sign for the industry, the volume of technical textiles increased by an impressive 22% compared to the previous month.
According to estimates provided by IndexBox, the value of technical textiles imports in March 2023 reached a noteworthy $89 million. While import values remained relatively steady, the surge in volume indicates a robust market demand for specialized technical textiles.
Leading the pack among major suppliers, Mexico emerged as the top country, accounting for a substantial 62% share of total imports. The volume of technical textiles imported from Mexico stood at 4.1 thousand tons, surpassing the figures of the second-largest supplier, China, by an extraordinary sixfold margin. India secured the third position with a 5.3% share of total imports, equivalent to 348 tons.
Analyzing the average monthly growth rates from March 2022 to March 2023, imports from Mexico experienced a slight decline of -1.5%. China, on the other hand, witnessed a more significant contraction with an average monthly rate of -4.2%. Meanwhile, India demonstrated positive growth at a rate of +5.4% per month, solidifying its position as a key player in the market.
In terms of value, Mexico accounted for 32% of total imports, with a value of $29 million. Canada secured the second position with a 16% share, amounting to $14 million, followed by Germany with a 9.7% share.
The types of technical textiles imported into the United States in March 2023 varied, with textile products and articles for technical uses specified in note 7 to this chapter dominating the market, comprising an impressive 84% share of total imports. This category exceeded the second-largest type, textiles for transmission or conveyor belts, by over tenfold. Textile hosepiping and similar tubing ranked third, constituting a 7.1% share.
Analyzing the average monthly growth rates from March 2022 to March 2023, the volume of imported textile products and articles for technical uses showed a slight decline of -1.6%. Similarly, other supplied products such as transmission or conveyor belts (-1.0% per month) and textile hosepiping and tubing (-0.1% per month) also experienced marginal contractions.
In terms of value, textile products and articles for technical uses specified in note 7 to this chapter dominated, representing 84% of total imports with a value of $75 million. Textiles for transmission or conveyor belts held the second position with a 9.2% share, accounting for $8.2 million, followed by textile hosepiping and similar tubing with a 6.3% share.
The price of technical textiles imports in March 2023 reached $13,479 per ton, experiencing a growth of 2.8% compared to the previous month. Over the past twelve months, import prices showed an average monthly growth rate of 1.1%. The most significant increase was observed in December 2022, with a 13% month-on-month rise, culminating in a peak price of $13,975 per ton. However, from January to March 2023, average import prices failed to regain momentum.
Significant variations in average prices were observed among the major supplying countries.