Sri Lanka: Metal Chain Market 2025

Metal Chain Market Size in Sri Lanka

In 2022, the Sri Lankan metal chain market increased by 265% to $X, rising for the second consecutive year after five years of decline. Over the period under review, consumption posted a slight expansion. Metal chain consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Metal Chain Exports

Exports from Sri Lanka

In 2022, approx. X tons of iron or steel chain were exported from Sri Lanka; growing by 210% against 2021. Overall, exports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2017 with an increase of 783%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, metal chain exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 656% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bangladesh (X tons) was the main destination for metal chain exports from Sri Lanka, accounting for a 97% share of total exports. It was followed by Maldives (X kg), with a 2.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bangladesh stood at +33.8%.

In value terms, Bangladesh ($X) emerged as the key foreign market for iron or steel chain exports from Sri Lanka, comprising 94% of total exports. The second position in the ranking was held by Maldives ($X), with a 6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bangladesh amounted to +19.1%.

Export Prices by Country

The average metal chain export price stood at $X per ton in 2022, rising by 28% against the previous year. In general, the export price showed a notable increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 246% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Bangladesh stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+30.9%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Chain Imports

Imports into Sri Lanka

In 2022, purchases abroad of iron or steel chain increased by 410% to X tons, rising for the second year in a row after five years of decline. Over the period under review, imports recorded a measured increase. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, metal chain imports skyrocketed to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal chain to Sri Lanka, accounting for a 86% share of total imports. Moreover, metal chain imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.3% per year) and Malaysia (+37.8% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel chain to Sri Lanka, comprising 55% of total imports. The second position in the ranking was held by Malaysia ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+33.0% per year) and Japan (+2.4% per year).

Import Prices by Country

The average metal chain import price stood at $X per ton in 2022, declining by -42% against the previous year. Over the period under review, the import price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by 52% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then declined remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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