Metal Welded Link Chain Market

The global market for metal welded link chain is expected to experience growth in both consumption and value over the period from 2022 to 2030. Consumption of welded link chain of iron or steel increased in 2022, while production saw a slight uptick as well. The largest volumes of consumption and production were in China, followed by other countries like the United States, India, and Italy. Imports and exports of welded link chain also saw fluctuations and growth in various countries. Overall, the global market for metal welded link chain is set to see gradual growth in years to come.

Market Forecast

Driven by rising demand for metal welded link chain worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.8% for the period from 2022 to 2030, which is projected to bring the market volume to 784K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market value to $3.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Welded Link Chain Of Iron Or Steel

In 2022, consumption of welded link chain of iron or steel increased by 1.4% to 736K tons, rising for the second consecutive year after two years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, global consumption reached the peak volume at 762K tons in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

The global metal welded link chain market size rose slightly to $2.8B in 2022, growing by 4.4% against 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). In general, consumption recorded modest growth. Over the period under review, the global market attained the maximum level in 2022 and is likely to see gradual growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (132K tons), the United States (97K tons) and India (66K tons), with a combined 40% share of global consumption. Italy, Japan, Russia, Germany, Brazil, Bangladesh, Mexico, France and South Korea lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +10.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, India ($285M), the United States ($276M) and China ($214M) appeared to be the countries with the highest levels of market value in 2022, together comprising 28% of the global market. Germany, Japan, Brazil, Italy, Russia, Bangladesh, Mexico, France and South Korea lagged somewhat behind, together accounting for a further 29%.

Among the main consuming countries, Italy, with a CAGR of +11.6%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of metal welded link chain per capita consumption was registered in Italy (800 kg per 1000 persons), followed by Germany (362 kg per 1000 persons), the United States (291 kg per 1000 persons) and Japan (280 kg per 1000 persons), while the world average per capita consumption of metal welded link chain was estimated at 94 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the metal welded link chain per capita consumption in Italy totaled +10.9%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Germany (+8.3% per year) and the United States (-3.4% per year).

Production

World Production of Welded Link Chain Of Iron Or Steel

In 2022, production of welded link chain of iron or steel increased by 3.4% to 835K tons, rising for the second year in a row after two years of decline. In general, production, however, recorded 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 production hit record highs at 863K tons in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, metal welded link chain production expanded to $2.9B in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 25% against the previous year. As a result, production attained the peak level of $3B. From 2017 to 2022, global production growth remained at a lower figure.

Production By Country

The country with the largest volume of metal welded link chain production was China (371K tons), accounting for 44% of total volume. Moreover, metal welded link chain production in China exceeded the figures recorded by the second-largest producer, India (65K tons), sixfold. The third position in this ranking was taken by Italy (51K tons), with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: India (+0.7% per year) and Italy (+8.6% per year).

Imports

World Imports of Welded Link Chain Of Iron Or Steel

In 2022, supplies from abroad of welded link chain of iron or steel increased by 9% to 277K tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 19%. Global imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, metal welded link chain imports expanded markedly to $793M in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when imports increased by 24% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports By Country

In 2022, the United States (59K tons) was the main importer of welded link chain of iron or steel, constituting 21% of total imports. It was distantly followed by Brazil (13K tons), constituting a 4.9% share of total imports. The following importers - China (12K tons), Canada (12K tons), Russia (12K tons), Germany (11K tons), Australia (10K tons), South Korea (8.3K tons), the UK (8.1K tons), Japan (8.1K tons), Norway (7K tons), Indonesia (6.9K tons) and the Netherlands (6.6K tons) - together made up 37% of total imports.

Imports into the United States increased at an average annual rate of +1.5% from 2012 to 2022. At the same time, Indonesia (+9.6%), the Netherlands (+8.4%), South Korea (+5.2%), Japan (+5.2%), China (+4.7%), Brazil (+4.6%), Australia (+3.9%), the UK (+3.7%), Russia (+1.8%), Germany (+1.3%) and Norway (+1.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of +9.6% from 2012-2022. Canada experienced a relatively flat trend pattern. The United States (-1.7 p.p.) significantly weakened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($169M) constitutes the largest market for imported welded link chain of iron or steel worldwide, comprising 21% of global imports. The second position in the ranking was held by China ($63M), with a 7.9% share of global imports. It was followed by Germany, with a 5.5% share.

In the United States, metal welded link chain imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: China (+4.4% per year) and Germany (+3.1% per year).

Import Prices By Country

In 2022, the average metal welded link chain import price amounted to $2,860 per ton, picking up by 2.5% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 7.5%. Global import price peaked at $2,862 per ton in 2013; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($5,095 per ton), while Russia ($1,550 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Welded Link Chain Of Iron Or Steel

In 2022, the amount of welded link chain of iron or steel exported worldwide expanded markedly to 376K tons, growing by 12% on the year before. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 23% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, metal welded link chain exports skyrocketed to $956M in 2022. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

China dominates exports structure, resulting at 252K tons, which was approx. 67% of total exports in 2022. Germany (23K tons) ranks second in terms of the total exports with a 6.1% share, followed by Spain (5.8%). The Czech Republic (12K tons), Brazil (8.7K tons), Italy (7.1K tons) and the United States (6.6K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to metal welded link chain exports from China stood at +2.1%. At the same time, Spain (+3.5%), Brazil (+1.7%) and the Czech Republic (+1.1%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +3.5% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, the United States (-2.8%) and Germany (-2.9%) illustrated a downward trend over the same period. While the share of China (+4.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Germany (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($450M) remains the largest metal welded link chain supplier worldwide, comprising 47% of global exports. The second position in the ranking was taken by Germany ($148M), with a 16% share of global exports. It was followed by Spain, with a 5.8% share.

In China, metal welded link chain exports expanded at an average annual rate of +2.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (-1.6% per year) and Spain (-0.3% per year).

Export Prices By Country

The average metal welded link chain export price stood at $2,542 per ton in 2022, rising by 4.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 11% against the previous year. The global export price peaked at $2,706 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 ($6,489 per ton), while China ($1,786 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform