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

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

The Malaysian metal welded link chain market dropped to $X in 2021, with a decrease of -10.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption faced a deep slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Welded Link Chain Of Iron Or Steel

Exports from Malaysia

After three years of growth, shipments abroad of welded link chain of iron or steel decreased by -52.8% to X tons in 2021. Overall, exports, however, saw tangible growth. The pace of growth appeared the most rapid in 2015 with an increase of 258% against the previous year. The exports peaked at X tons in 2020, and then contracted notably in the following year.

In value terms, metal welded link chain exports shrank notably to $X in 2021. In general, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 240%. Over the period under review, the exports hit record highs at $X in 2020, and then contracted significantly in the following year.

Exports by Country

Singapore (X tons) was the main destination for metal welded link chain exports from Malaysia, accounting for a 74% share of total exports. Moreover, metal welded link chain exports to Singapore exceeded the volume sent to the second major destination, Indonesia (X tons), fivefold. Solomon Islands (X tons) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume to Singapore amounted to +93.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+18.2% per year) and Solomon Islands (+33.5% per year).

In value terms, Singapore ($X) remains the key foreign market for welded link chain of iron or steel exports from Malaysia, comprising 78% of total exports. The second position in the ranking was held by Indonesia ($X), with a 14% share of total exports. It was followed by Vietnam, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore stood at +92.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+23.8% per year) and Vietnam (+10.3% per year).

Export Prices by Country

In 2021, the average metal welded link chain export price amounted to $X per ton, which is down by -3% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal welded link chain export price increased by +64.3% against 2017 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 31%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Solomon Islands ($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 Saudi Arabia (+13.9%), 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 Malaysia

In 2021, supplies from abroad of welded link chain of iron or steel decreased by -10.9% to X tons, falling for the fourth year in a row after three years of growth. In general, imports faced a abrupt contraction. The pace of growth appeared the most rapid in 2017 with an increase of 20%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, metal welded link chain imports reduced dramatically to $X in 2021. Overall, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of 20% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest metal welded link chain supplier to Malaysia, accounting for a 87% share of total imports. Moreover, metal welded link chain imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. Germany (X tons) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.2% per year) and Germany (-1.3% per year).

In value terms, China ($X) constituted the largest supplier of welded link chain of iron or steel to Malaysia, comprising 61% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports. It was followed by Germany, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.2% per year) and Germany (-13.2% per year).

Import Prices by Country

In 2021, the average metal welded link chain import price amounted to $X per ton, falling by -5.1% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 22%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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