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

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

After four years of growth, the Scandinavia metal welded link chain market decreased by -15.9% to $X in 2021. In general, consumption, however, enjoyed pronounced growth. As a result, consumption reached the peak level of $X, and then dropped rapidly in the following year.

Production of Welded Link Chain Of Iron Or Steel in Scandinavia

In value terms, metal welded link chain production declined to $X in 2021 estimated in export price. Overall, production saw a slight setback. The pace of growth was the most pronounced in 2017 when the production volume increased by 27%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Welded Link Chain Of Iron Or Steel

Exports in Scandinavia

In 2021, shipments abroad of welded link chain of iron or steel decreased by -6.5% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports showed a perceptible decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 18% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, metal welded link chain exports rose significantly to $X in 2021. Overall, exports saw a perceptible decline. The growth pace was the most rapid in 2018 when exports increased by 14%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden was the major exporting country with an export of around X tons, which reached 64% of total exports. Norway (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Denmark (15%).

Exports from Sweden decreased at an average annual rate of -3.6% from 2012 to 2021. At the same time, Denmark (+7.6%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +7.6% from 2012-2021. By contrast, Norway (-2.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Denmark increased by +9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest metal welded link chain supplier in Scandinavia, comprising 64% of total exports. The second position in the ranking was held by Denmark ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Sweden amounted to -3.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Denmark (+9.4% per year) and Norway (-6.1% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, growing by 15% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 15%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Welded Link Chain Of Iron Or Steel

Imports in Scandinavia

In 2021, supplies from abroad of welded link chain of iron or steel decreased by -11.6% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports, however, saw a pronounced expansion. The pace of growth was the most pronounced in 2020 when imports increased by 82% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, metal welded link chain imports reduced to $X in 2021. Overall, imports, however, enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 111%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Norway (X tons) represented the largest importer of welded link chain of iron or steel, committing 53% of total imports. Sweden (X tons) held the second position in the ranking, followed by Finland (X tons) and Denmark (X tons). All these countries together took approx. 44% share of total imports. Iceland (X tons) followed a long way behind the leaders.

Imports into Norway increased at an average annual rate of +2.4% from 2012 to 2021. At the same time, Iceland (+12.5%), Finland (+3.8%) and Sweden (+1.1%) displayed positive paces of growth. Moreover, Iceland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +12.5% from 2012-2021. Denmark experienced a relatively flat trend pattern. While the share of Iceland (+2.2 p.p.) and Finland (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sweden (-1.8 p.p.) and Denmark (-3.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Norway ($X), Sweden ($X) and Denmark ($X) were the countries with the highest levels of imports in 2021, with a combined 86% share of total imports. These countries were followed by Finland and Iceland, which together accounted for a further 14%.

Iceland, with a CAGR of +11.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, reducing by -3.1% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 16% against the previous year. The level of import 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 destination: amid the top importers, the country with the highest price was Denmark ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+2.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform