Finland: Metal Chain Market 2024

Metal Chain Market Size in Finland

In 2022, the Finnish metal chain market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a perceptible descent. Metal chain consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Metal Chain Production in Finland

In value terms, metal chain production soared to $X in 2022 estimated in export price. Overall, production recorded a resilient increase. The pace of growth was the most pronounced in 2020 when the production volume increased by 104% against the previous year. Over the period under review, production reached the maximum level in 2022 and is expected to retain growth in the near future.

Metal Chain Exports

Exports from Finland

In 2022, the amount of iron or steel chain exported from Finland dropped dramatically to X tons, with a decrease of -76.9% against the year before. In general, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2020 when exports increased by 177%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, metal chain exports declined markedly to $X in 2022. Overall, exports showed a abrupt decrease. The growth pace was the most rapid in 2020 when exports increased by 87%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for metal chain exports from Finland, with a 37% share of total exports. Moreover, metal chain exports to Sweden exceeded the volume sent to the second major destination, Austria (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden totaled +36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+119.5% per year) and Russia (-34.9% per year).

In value terms, Chile ($X), Mexico ($X) and Estonia ($X) appeared to be the largest markets for metal chain exported from Finland worldwide, with a combined 44% share of total exports. Sweden, Austria, China, New Zealand, Russia, Lithuania, Latvia, the Czech Republic and Norway lagged somewhat behind, together accounting for a further 35%.

Austria, with a CAGR of +177.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average metal chain export price stood at $X per ton in 2022, with an increase of 23% against the previous year. In general, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 66% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Norway ($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 Austria (+26.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Chain Imports

Imports into Finland

In 2022, overseas purchases of iron or steel chain increased by 106% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a abrupt descent. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, metal chain imports soared to $X in 2022. Overall, imports, however, saw a deep contraction. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest metal chain supplier to Finland, accounting for a 70% share of total imports. Moreover, metal chain imports from China exceeded the figures recorded by the second-largest supplier, Estonia (X tons), ninefold. Italy (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+86.9% per year) and Italy (+0.1% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel chain to Finland, comprising 61% of total imports. The second position in the ranking was held by Italy ($X), with a 7.9% share of total imports. It was followed by Germany, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-2.4% per year) and Germany (-2.6% per year).

Import Prices by Country

In 2022, the average metal chain import price amounted to $X per ton, with a decrease of -9.9% against the previous year. Overall, the import price saw a slight reduction. The growth pace was the most rapid in 2021 an increase of 34%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, 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 the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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