Norway: Metal Chain Market 2024

Metal Chain Market Size in Norway

The Norwegian metal chain market fell remarkably to $X in 2022, waning by -48.3% 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). In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Metal Chain Exports

Exports from Norway

For the third consecutive year, Norway recorded growth in overseas shipments of iron or steel chain, which increased by 5.8% to X tons in 2022. Overall, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 320%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, metal chain exports surged to $X in 2022. In general, exports showed a moderate increase. The most prominent rate of growth was recorded in 2015 when exports increased by 193%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Denmark (X tons), Russia (X tons) and the UK (X tons) were the main destinations of metal chain exports from Norway, together comprising 43% of total exports. Lithuania, Sweden, the Netherlands, Iceland, Faroe Islands and Malaysia lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +46.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), Russia ($X) and the UK ($X) constituted the largest markets for metal chain exported from Norway worldwide, together comprising 38% of total exports. The Netherlands, Sweden, Lithuania, Iceland, Faroe Islands and Malaysia lagged somewhat behind, together accounting for a further 40%.

Among the main countries of destination, Lithuania, with a CAGR of +34.1%, saw the highest growth rate of the value of exports, 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, jumping by 21% against the previous year. Overall, the export price, however, showed a pronounced contraction. The growth pace was the most rapid in 2019 when the average export price increased by 42% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Malaysia ($X per ton), while the average price for exports to Faroe Islands ($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 Faroe Islands (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Chain Imports

Imports into Norway

In 2022, metal chain imports into Norway dropped significantly to X tons, with a decrease of -37% on the previous year's figure. Over the period under review, imports, however, showed a pronounced increase. The most prominent rate of growth was recorded in 2019 with an increase of 116% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, metal chain imports declined notably to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 184% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), China (X tons) and the UK (X tons) were the main suppliers of metal chain imports to Norway, together comprising 94% of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +16.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal chain suppliers to Norway were Spain ($X), China ($X) and Sweden ($X), with a combined 84% share of total imports.

Among the main suppliers, Spain, with a CAGR of +12.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal chain import price stood at $X per ton in 2022, increasing by 5.7% against the previous year. Overall, the import price, however, continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2021 when the average import price increased by 70% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Sweden ($X per ton), while the price for the UK ($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 Netherlands (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :