Singapore: Market for Welded Link Chain Of Iron Or Steel 2025

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

The Singaporean metal welded link chain market shrank modestly to $X in 2021, remaining stable against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Welded Link Chain Of Iron Or Steel in Singapore

In value terms, metal welded link chain production dropped rapidly to $X in 2021 estimated in export price. Over the period under review, production saw a noticeable decrease. The growth pace was the most rapid in 2020 with an increase of 175%. Metal welded link chain production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Welded Link Chain Of Iron Or Steel

Exports from Singapore

In 2021, the amount of welded link chain of iron or steel exported from Singapore dropped remarkably to X tons, waning by -16.2% on the year before. Overall, exports saw a noticeable setback. The most prominent rate of growth was recorded in 2018 when exports increased by 65%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal welded link chain exports rose slightly to $X in 2021. Over the period under review, exports saw a noticeable downturn. The growth pace was the most rapid in 2014 with an increase of 81% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for metal welded link chain exports from Singapore, accounting for a 68% share of total exports. Moreover, metal welded link chain exports to Japan exceeded the volume sent to the second major destination, Indonesia (X tons), sixfold. Malaysia (X tons) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan stood at +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-11.7% per year) and Malaysia (-8.1% per year).

In value terms, Japan ($X) remains the key foreign market for welded link chain of iron or steel exports from Singapore, comprising 65% of total exports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total exports. It was followed by Indonesia, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value to Japan stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-5.6% per year) and Indonesia (-15.0% per year).

Export Prices by Country

The average metal welded link chain export price stood at $X per ton in 2021, jumping by 22% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 28%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Indonesia ($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 Mauritius (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Welded Link Chain Of Iron Or Steel

Imports into Singapore

Metal welded link chain imports into Singapore was estimated at X tons in 2021, surging by 4% against 2020. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 146% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal welded link chain imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a pronounced setback. The pace of growth appeared the most rapid in 2014 when imports increased by 107%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal welded link chain to Singapore, with a 73% share of total imports. Moreover, metal welded link chain imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The Czech Republic (X tons) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.4% per year) and the Czech Republic (+25.2% per year).

In value terms, China ($X) constituted the largest supplier of welded link chain of iron or steel to Singapore, comprising 48% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.8% per year) and Japan (-0.5% per year).

Import Prices by Country

The average metal welded link chain import price stood at $X per ton in 2021, rising by 25% against the previous year. Over the period under review, the import price, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2015 an increase of 28% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, 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 the United States (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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