Serbia: Metal Chain Market 2024

Metal Chain Market Size in Serbia

The Serbian metal chain market skyrocketed to $X in 2022, with an increase of 18% against the previous year. In general, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +37.4% against 2019 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Metal Chain Production in Serbia

In value terms, metal chain production expanded to $X in 2022 estimated in export price. Overall, production posted a moderate increase. The pace of growth appeared the most rapid in 2016 with an increase of 46%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Metal Chain Exports

Exports from Serbia

In 2022, shipments abroad of iron or steel chain decreased by -17.5% to X tons, falling for the second consecutive year after six years of growth. In general, exports showed a slight decrease. The growth pace was the most rapid in 2016 with an increase of 55% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, metal chain exports dropped to $X in 2022. Over the period under review, exports, however, posted a strong expansion. The growth pace was the most rapid in 2016 when exports increased by 98% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then shrank in the following year.

Exports by Country

Germany (X tons), France (X tons) and Italy (X tons) were the main destinations of metal chain exports from Serbia, with a combined 90% share of total exports. Hungary and the Czech Republic lagged somewhat behind, together comprising a further 4.5%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +244.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal chain exported from Serbia were France ($X), Italy ($X) and Germany ($X), together comprising 87% of total exports. Hungary and the Czech Republic lagged somewhat behind, together accounting for a further 5.5%.

In terms of the main countries of destination, the Czech Republic, with a CAGR of +319.3%, recorded 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

In 2022, the average metal chain export price amounted to $X per ton, growing by 18% against the previous year. In general, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal chain export price increased by +123.7% against 2015 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 28% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

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 the Czech Republic ($X per ton), while the average price for exports to Germany ($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 the Czech Republic (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Chain Imports

Imports into Serbia

In 2022, after two years of growth, there was significant decline in supplies from abroad of iron or steel chain, when their volume decreased by -11.7% to X tons. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 110% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, metal chain imports rose sharply to $X in 2022. In general, imports, however, recorded a measured expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 432% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of metal chain to Serbia, accounting for a 47% share of total imports. Moreover, metal chain imports from Italy exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.4% per year) and Turkey (+3.8% per year).

In value terms, Italy ($X) constituted the largest supplier of iron or steel chain to Serbia, comprising 60% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Turkey, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.3% per year) and Turkey (+10.7% per year).

Import Prices by Country

In 2022, the average metal chain import price amounted to $X per ton, picking up by 20% against the previous year. Overall, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal chain import price decreased by -2.6% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 153% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform