Canada: Metal Chain Market 2024

Metal Chain Market Size in Canada

The Canadian metal chain market dropped slightly to $X in 2022, declining by -4.1% against the previous year. Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +120.6% against 2014 indices. Metal chain consumption peaked at $X in 2021, and then reduced in the following year.

Metal Chain Production in Canada

In value terms, metal chain production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a prominent expansion. The growth pace was the most rapid in 2015 with an increase of 164% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Metal Chain Exports

Exports from Canada

In 2022, overseas shipments of iron or steel chain were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 77%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal chain exports soared to $X in 2022. In general, total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for metal chain exports from Canada, with a 91% share of total exports. It was followed by South Africa (X tons), with a 1.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+68.6% per year) and France (+19.7% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel chain exports from Canada, comprising 94% of total exports. The second position in the ranking was taken by South Africa ($X), with a 1.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+64.9% per year) and France (+14.8% per year).

Export Prices by Country

In 2022, the average metal chain export price amounted to $X per ton, with an increase of 33% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.5%), while the prices for the other major destinations experienced a decline.

Metal Chain Imports

Imports into Canada

In 2022, overseas purchases of iron or steel chain decreased by -3.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 40% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted slightly in the following year.

In value terms, metal chain imports expanded notably to $X in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal chain to Canada, with a 68% share of total imports. Moreover, metal chain imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.8% per year) and Taiwan (Chinese) (+30.2% per year).

In value terms, China ($X), the United States ($X) and Austria ($X) appeared to be the largest metal chain suppliers to Canada, with a combined 83% share of total imports. These countries were followed by Taiwan (Chinese), which accounted for a further 7.8%.

Taiwan (Chinese), with a CAGR of +26.0%, recorded the highest growth rate of the value of imports, among 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 2022, the average metal chain import price amounted to $X per ton, picking up by 9.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2015 an increase of 36% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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