Philippines: Market for Welded Link Chain Of Iron Or Steel 2025

Market Size for Welded Link Chain Of Iron Or Steel in the Philippines

After two years of growth, the Philippine metal welded link chain market decreased by -20.3% to $X in 2021. In general, consumption, however, showed a resilient increase. Metal welded link chain consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Exports of Welded Link Chain Of Iron Or Steel

Exports from the Philippines

After two years of growth, overseas shipments of welded link chain of iron or steel decreased by -54.5% to X tons in 2021. Overall, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 5,514% against the previous year. As a result, the exports attained the peak of X tons, and then shrank notably in the following year.

In value terms, metal welded link chain exports soared to $X in 2021. Over the period under review, exports, however, recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for metal welded link chain exports from the Philippines, with a 90% share of total exports. Moreover, metal welded link chain exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +796.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+2.7% per year) and China (+34.5% per year).

In value terms, the United States ($X) remains the key foreign market for welded link chain of iron or steel exports from the Philippines, comprising 92% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 3.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +695.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-11.1% per year) and China (+37.2% per year).

Export Prices by Country

The average metal welded link chain export price stood at $X per ton in 2021, growing by 3,483% against the previous year. Over the period under review, the export price, however, recorded a deep downturn. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands ($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 China (+2.1%), while the prices for the other major destinations experienced a decline.

Imports of Welded Link Chain Of Iron Or Steel

Imports into the Philippines

In 2021, approx. X tons of welded link chain of iron or steel were imported into the Philippines; which is down by -30% against 2020 figures. Over the period under review, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of 118%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, metal welded link chain imports reduced to $X in 2021. In general, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 106% against the previous year. Imports peaked at $X in 2017; however, from 2018 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 the Philippines, with a 65% 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), sevenfold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.4% per year) and Hong Kong SAR (+35.3% per year).

In value terms, the largest metal welded link chain suppliers to the Philippines were China ($X), the United States ($X) and Germany ($X), together comprising 59% of total imports. These countries were followed by Slovenia, Hong Kong SAR, Canada and the United Arab Emirates, which together accounted for a further 9.5%.

The United Arab Emirates, with a CAGR of +527.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal welded link chain import price stood at $X per ton in 2021, surging by 22% against the previous year. Over the period under review, the import price, however, showed a pronounced downturn. The pace of growth was the most pronounced in 2019 an increase of 40% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :