Finland: Market for Welded Link Chain Of Iron Or Steel 2024

Market Size for Welded Link Chain Of Iron Or Steel in Finland

In 2021, the Finnish metal welded link chain market increased by 27% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Metal welded link chain consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Welded Link Chain Of Iron Or Steel in Finland

In value terms, metal welded link chain production stood at $X in 2021 estimated in export price. Over the period under review, production, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 23% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Welded Link Chain Of Iron Or Steel

Exports from Finland

In 2021, approx. X tons of welded link chain of iron or steel were exported from Finland; falling by -32.4% on the previous year's figure. In general, exports showed a drastic downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 22%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal welded link chain exports skyrocketed to $X in 2021. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 65%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for metal welded link chain exports from Finland, with a 45% share of total exports. Moreover, metal welded link chain exports to Russia exceeded the volume sent to the second major destination, Estonia (X tons), fourfold. China (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia totaled -15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-25.2% per year) and China (+58.2% per year).

In value terms, China ($X) emerged as the key foreign market for welded link chain of iron or steel exports from Finland, comprising 36% of total exports. The second position in the ranking was held by Russia ($X), with a 14% share of total exports. It was followed by Saudi Arabia, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +84.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-14.0% per year) and Saudi Arabia (+1.6% per year).

Export Prices by Country

The average metal welded link chain export price stood at $X per ton in 2021, surging by 79% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+36.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Welded Link Chain Of Iron Or Steel

Imports into Finland

Metal welded link chain imports into Finland expanded rapidly to X tons in 2021, picking up by 9.6% compared with the previous year's figure. Overall, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +3.3% against 2018 indices. The pace of growth was the most pronounced in 2014 when imports increased by 57%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, metal welded link chain imports soared to $X in 2021. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal welded link chain to Finland, with a 86% share of total imports. Moreover, metal welded link chain imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Sweden (X tons) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.0% per year) and Sweden (+7.9% per year).

In value terms, China ($X) constituted the largest supplier of welded link chain of iron or steel to Finland, comprising 73% of total imports. The second position in the ranking was taken by Germany ($X), with a 7.2% share of total imports. It was followed by Sweden, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.1% per year) and Sweden (+7.1% per year).

Import Prices by Country

In 2021, the average metal welded link chain import price amounted to $X per ton, growing by 19% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 26% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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