Philippines: Metal Link Chain Market 2024

Metal Link Chain Market Size in the Philippines

In 2021, the Philippine metal link chain market decreased by -12.8% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption, however, recorded resilient growth. Over the period under review, the market reached the maximum level at $X in 2020, and then declined in the following year.

Metal Link Chain Exports

Exports from the Philippines

In 2021, shipments abroad of iron or steel articulated link chain increased by 4,741% to X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports continue to indicate a mild increase. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal link chain exports surged to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for metal link chain exports from the Philippines, accounting for a 87% share of total exports. Moreover, metal link chain exports to Canada exceeded the volume sent to the second major destination, Vietnam (X kg), more than tenfold. The United Arab Emirates (X kg) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume to Canada stood at +128.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+7.6% per year) and the United Arab Emirates (+35.7% per year).

In value terms, Canada ($X) remains the key foreign market for iron or steel articulated link chain exports from the Philippines, comprising 73% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 14% share of total exports. It was followed by the United Arab Emirates, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada totaled +117.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-13.5% per year) and the United Arab Emirates (+30.2% per year).

Export Prices by Country

In 2021, the average metal link chain export price amounted to $X per ton, picking up by 2.9% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 192%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Indonesia ($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 (+22.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Link Chain Imports

Imports into the Philippines

In 2021, the amount of iron or steel articulated link chain imported into the Philippines shrank to X tons, with a decrease of -5.5% compared with 2020. Overall, imports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by 62%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, metal link chain imports fell to $X in 2021. In general, imports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2017 with an increase of 70% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then reduced in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest metal link chain supplier to the Philippines, with a 70% share of total imports. Moreover, metal link chain imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+41.1% per year) and the Netherlands (+36.2% per year).

In value terms, China ($X), the Netherlands ($X) and Germany ($X) were the largest metal link chain suppliers to the Philippines, with a combined 46% share of total imports. Japan, Italy, the UK, Taiwan (Chinese), the United States and Vietnam lagged somewhat behind, together accounting for a further 31%.

Among the main suppliers, Italy, with a CAGR of +33.7%, recorded 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

In 2021, the average metal link chain import price amounted to $X per ton, shrinking by -9.3% against the previous year. In general, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the average import price increased by 56%. The import price peaked at $X per ton in 2020, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 Vietnam (+30.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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