Singapore: Metal Link Chain Market 2024

Metal Link Chain Market Size in Singapore

The Singaporean metal link chain market declined remarkably to $X in 2021, which is down by -41.4% against the previous year. Over the period under review, consumption faced a deep contraction. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Metal Link Chain Production in Singapore

In value terms, metal link chain production shrank notably to $X in 2021 estimated in export price. Overall, production faced a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 89% against the previous year. Metal link chain production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Metal Link Chain Exports

Exports from Singapore

In 2021, approx. X tons of iron or steel articulated link chain were exported from Singapore; growing by 37% against 2020. In general, exports, however, continue to indicate a abrupt contraction. The growth pace was the most rapid in 2019 with an increase of 105%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, metal link chain exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a abrupt decline. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for metal link chain exports from Singapore, accounting for a 56% share of total exports. Moreover, metal link chain exports to Japan exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. India (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Japan amounted to +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-13.2% per year) and India (-8.9% per year).

In value terms, India ($X), Japan ($X) and Indonesia ($X) appeared to be the largest markets for metal link chain exported from Singapore worldwide, together comprising 88% of total exports. South Korea, Saudi Arabia, Malaysia and Thailand lagged somewhat behind, together accounting for a further 3.9%.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +22.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average metal link chain export price stood at $X per ton in 2021, growing by 54% against the previous year. Over the period under review, the export price, however, saw a mild setback. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Saudi Arabia ($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 India (+4.6%), while the prices for the other major destinations experienced a decline.

Metal Link Chain Imports

Imports into Singapore

In 2021, approx. X tons of iron or steel articulated link chain were imported into Singapore; growing by 148% compared with the previous year. Overall, imports enjoyed a modest increase. The most prominent rate of growth was recorded in 2019 with an increase of 174% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, metal link chain imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 89% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal link chain to Singapore, accounting for a 86% share of total imports. Moreover, metal link chain imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The third position in this ranking was taken by the United States (X tons), with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+7.4% per year) and the United States (-15.3% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel articulated link chain to Singapore, comprising 56% of total imports. The second position in the ranking was taken by Japan ($X), with a 19% share of total imports. It was followed by the United States, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+16.2% per year) and the United States (-17.2% per year).

Import Prices by Country

In 2021, the average metal link chain import price amounted to $X per ton, shrinking by -28.4% against the previous year. Over the period under review, the import price showed a slight contraction. The pace of growth appeared the most rapid in 2020 an increase of 130% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined remarkably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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