Singapore: Metal Chain Market 2025

Metal Chain Market Size in Singapore

After three years of decline, the Singaporean metal chain market increased by 52% to $X in 2022. Over the period under review, consumption, however, saw a relatively flat trend pattern. Metal chain consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Metal Chain Production in Singapore

In value terms, metal chain production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt shrinkage. Metal chain production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Metal Chain Exports

Exports from Singapore

In 2022, overseas shipments of iron or steel chain were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt slump. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, metal chain exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a drastic downturn. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for metal chain exports from Singapore, accounting for a 52% share of total exports. Moreover, metal chain exports to Indonesia exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia totaled -2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+69.6% per year) and Thailand (+4.9% per year).

In value terms, the largest markets for metal chain exported from Singapore were the United States ($X), Indonesia ($X) and India ($X), together comprising 82% of total exports.

India, with a CAGR of +222.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average metal chain export price stood at $X per ton in 2022, increasing by 25% against the previous year. Over the period under review, the export price continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2020 an increase of 62%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

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 United States ($X per ton), while the average price for exports to Hong Kong SAR ($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 India (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Chain Imports

Imports into Singapore

After two years of decline, overseas purchases of iron or steel chain increased by 43% to X tons in 2022. Over the period under review, imports, however, showed a abrupt slump. The growth pace was the most rapid in 2017 when imports increased by 65% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, metal chain imports surged to $X in 2022. Overall, imports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 95%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal chain supplier to Singapore, with a 70% share of total imports. Moreover, metal chain imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), sixfold. Malaysia (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+22.6% per year) and Malaysia (-0.6% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel chain to Singapore, comprising 56% of total imports. The second position in the ranking was held by Spain ($X), with a 14% share of total imports. It was followed by Italy, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+20.2% per year) and Italy (-15.6% per year).

Import Prices by Country

The average metal chain import price stood at $X per ton in 2022, growing by 9% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 -5.7% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 54% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+39.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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