Metal Chain Parts Market

The article provides insights into the global metal chain parts market, forecasting a modest increase in consumption and value terms from 2022 to 2030. China stands as the largest consumer and producer of metal chain parts, followed by the United States and India. The article also covers import and export trends, with significant growth rates recorded in countries like India and Norway. The average import and export prices varied among the major exporting countries, with Germany having the highest export price. Overall, the market is expected to show mixed trends in the coming years.

Market Forecast

Driven by rising demand for metal chain parts worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.4% for the period from 2022 to 2030, which is projected to bring the market volume to 234K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market value to $1.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Parts Of Chains Of Iron Or Steel

In 2022, global metal chain parts consumption shrank to 227K tons, remaining constant against 2021 figures. Over the period under review, consumption saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 3.2%. Global consumption peaked at 305K tons in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

The global metal chain parts market value contracted to $1.4B in 2022, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2021 when the market value increased by 4.9% against the previous year. Global consumption peaked at $1.8B in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Consumption By Country

China (65K tons) remains the largest metal chain parts consuming country worldwide, accounting for 28% of total volume. Moreover, metal chain parts consumption in China exceeded the figures recorded by the second-largest consumer, the United States (27K tons), twofold. The third position in this ranking was taken by India (24K tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (-1.6% per year) and India (-2.0% per year).

In value terms, the largest metal chain parts markets worldwide were the United States ($269M), China ($233M) and Japan ($158M), together comprising 49% of the global market. India, Bangladesh, Vietnam, Spain, Germany, Indonesia, the UK, Canada and Turkey lagged somewhat behind, together comprising a further 25%.

The UK, with a CAGR of +9.7%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced mixed trends in the market figures.

The countries with the highest levels of metal chain parts per capita consumption in 2022 were Canada (99 kg per 1000 persons), Japan (92 kg per 1000 persons) and Germany (83 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the UK (with a CAGR of +11.0%), while consumption for the other global leaders experienced mixed trends in the per capita consumption figures.

Production

World Production of Parts Of Chains Of Iron Or Steel

In 2022, after eight years of decline, there was growth in production of parts of chains of iron or steel, when its volume increased by 0.9% to 212K tons. Overall, production, however, continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2013 with an increase of 3.1% against the previous year. As a result, production reached the peak volume of 293K tons. From 2014 to 2022, global production growth remained at a lower figure.

In value terms, metal chain parts production contracted modestly to $1.2B in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible reduction. The pace of growth was the most pronounced in 2013 with an increase of 5.1%. As a result, production reached the peak level of $1.8B. From 2014 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (74K tons) constituted the country with the largest volume of metal chain parts production, comprising approx. 35% of total volume. Moreover, metal chain parts production in China exceeded the figures recorded by the second-largest producer, India (25K tons), threefold. The third position in this ranking was held by the United States (21K tons), with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. In the other countries, the average annual rates were as follows: India (-1.4% per year) and the United States (-3.3% per year).

Imports

World Imports of Parts Of Chains Of Iron Or Steel

Global metal chain parts imports dropped modestly to 53K tons in 2022, approximately reflecting the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. Over the period under review, global imports hit record highs at 59K tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, metal chain parts imports expanded remarkably to $331M in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 23%. Global imports peaked at $338M in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, the United States (9.4K tons), distantly followed by Germany (5.5K tons), Canada (4.4K tons), the UK (3.8K tons) and Austria (2.4K tons) represented the major importers of parts of chains of iron or steel, together constituting 48% of total imports. Norway (1.9K tons), Malaysia (1.7K tons), France (1.4K tons), India (1.2K tons), the Netherlands (1.2K tons), Thailand (1K tons), South Africa (1K tons) and Chile (0.8K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Norway (with a CAGR of +14.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($62M) constitutes the largest market for imported parts of chains of iron or steel worldwide, comprising 19% of global imports. The second position in the ranking was taken by Germany ($24M), with a 7.4% share of global imports. It was followed by Canada, with a 7.1% share.

In the United States, metal chain parts imports increased at an average annual rate of +2.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+1.3% per year) and Canada (+4.6% per year).

Import Prices By Country

In 2022, the average metal chain parts import price amounted to $6,232 per ton, growing by 7.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $6,497 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($10,837 per ton), while South Africa ($3,402 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Parts Of Chains Of Iron Or Steel

In 2022, overseas shipments of parts of chains of iron or steel increased by 12% to 38K tons, rising for the second consecutive year after four years of decline. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The global exports peaked at 40K tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, metal chain parts exports rose significantly to $260M in 2022. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 17%. Over the period under review, the global exports hit record highs at $304M in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, China (9.6K tons), distantly followed by Indonesia (5.8K tons), Germany (3.2K tons), the United States (2.9K tons), Taiwan (Chinese) (2.8K tons) and India (2.2K tons) represented the major exporters of parts of chains of iron or steel, together generating 70% of total exports. Spain (1.5K tons), Canada (1.3K tons), the Netherlands (1.3K tons), Italy (1.1K tons) and the UK (0.7K tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of +15.3%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest metal chain parts supplying countries worldwide were Germany ($51M), China ($37M) and the United States ($29M), with a combined 45% share of global exports. Indonesia, Spain, Taiwan (Chinese), Italy, the Netherlands, India, Canada and the UK lagged somewhat behind, together accounting for a further 36%.

India, with a CAGR of +13.4%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average metal chain parts export price amounted to $6,882 per ton, declining by -2.2% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 7.7%. Over the period under review, the average export prices reached the maximum at $7,895 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($16,130 per ton), while Indonesia ($3,321 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform