Singapore: Market for Iron Or Steel Parts Of Articulated Link Chain 2024

Market Size for Iron Or Steel Parts Of Articulated Link Chain in Singapore

The Singaporean metal link chain parts market surged to $X in 2021, picking up by 47% against the previous year. In general, consumption continues to indicate a significant increase. Metal link chain parts consumption peaked in 2021 and is expected to retain growth in years to come.

Production of Iron Or Steel Parts Of Articulated Link Chain in Singapore

In value terms, metal link chain parts production totaled less than $X in 2021 estimated in export price. In general, production faced a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 47% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Exports of Iron Or Steel Parts Of Articulated Link Chain

Exports from Singapore

In 2021, overseas shipments of iron or steel parts of articulated link chain increased by 133% to X tons, rising for the fifth consecutive year after two years of decline. In general, exports saw significant growth. The growth pace was the most rapid in 2020 when exports increased by 197%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, metal link chain parts exports soared to $X in 2021. Over the period under review, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 320%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

India (X tons) was the main destination for metal link chain parts exports from Singapore, with a 92% share of total exports. It was followed by Pakistan (X tons), with a 2.5% share of total exports. Indonesia (X tons) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +164.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+1,514.0% per year) and Indonesia (-13.9% per year).

In value terms, India ($X) emerged as the key foreign market for iron or steel parts of articulated link chain exports from Singapore, comprising 94% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 1.8% share of total exports. It was followed by Malaysia, with a 0.8% share.

From 2012 to 2021, the average annual growth rate of value to India totaled +119.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-21.0% per year) and Malaysia (-21.8% per year).

Export Prices by Country

In 2021, the average metal link chain parts export price amounted to $X per ton, with an increase of 28% against the previous year. Overall, the export price, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 105% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Pakistan ($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 Malaysia (-4.2%), while the prices for the other major destinations experienced a decline.

Imports of Iron Or Steel Parts Of Articulated Link Chain

Imports into Singapore

After four years of growth, purchases abroad of iron or steel parts of articulated link chain decreased by -90.3% to X tons in 2021. Over the period under review, imports saw a perceptible slump. The growth pace was the most rapid in 2020 with an increase of 535%. As a result, imports attained the peak of X tons, and then fell sharply in the following year.

In value terms, metal link chain parts imports shrank dramatically to $X in 2021. Overall, imports showed a slight reduction. The growth pace was the most rapid in 2020 with an increase of 358% against the previous year. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest metal link chain parts supplier to Singapore, accounting for a 68% share of total imports. Moreover, metal link chain parts imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from China stood at -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+13.1% per year) and Japan (+12.2% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel parts of articulated link chain to Singapore, comprising 47% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+5.8% per year) and Japan (+17.8% per year).

Import Prices by Country

The average metal link chain parts import price stood at $X per ton in 2021, picking up by 136% against the previous year. Over the period under review, the import price recorded a modest expansion. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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