Philippines: Market for Welded Link Chain Of Iron Or Steel 2024

Market Size for Welded Link Chain Of Iron Or Steel in the Philippines

The Philippine metal welded link chain market soared to $X in 2022, picking up by X% 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). Overall, consumption posted a resilient expansion. Metal welded link chain consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Exports of Welded Link Chain Of Iron Or Steel

Exports from the Philippines

For the fourth consecutive year, the Philippines recorded growth in overseas shipments of welded link chain of iron or steel, which increased by X% to X tons in 2022. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, metal welded link chain exports declined remarkably to $X in 2022. In general, exports enjoyed significant growth. The growth pace was the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for metal welded link chain exports from the Philippines, accounting for a X% share of total exports. Moreover, metal welded link chain exports to Japan exceeded the volume sent to the second major destination, Indonesia (X tons), threefold.

From 2016 to 2022, the average annual rate of growth in terms of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X.0% per year) and the Netherlands (X% per year).

In value terms, Japan ($X) emerged as the key foreign market for welded link chain of iron or steel exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports.

From 2016 to 2022, the average annual growth rate of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average metal welded link chain export price amounted to $X per kg, with a decrease of X% against the previous year. In general, the export price continues to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, the export price attained the peak level of $X per kg. From 2021 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per kg), while the average price for exports to Japan ($X per kg) was amongst the lowest.

From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%).

Imports of Welded Link Chain Of Iron Or Steel

Imports into the Philippines

In 2022, the amount of welded link chain of iron or steel imported into the Philippines soared to X tons, jumping by X% on the previous year's figure. Overall, imports recorded a resilient increase. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, metal welded link chain imports skyrocketed to $X in 2022. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal welded link chain to the Philippines, with a X% share of total imports. Moreover, metal welded link chain imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was taken by South Africa (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Africa (X% per year).

In value terms, China ($X) constituted the largest supplier of welded link chain of iron or steel to the Philippines, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by South Africa, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Africa (X% per year).

Import Prices by Country

In 2022, the average metal welded link chain import price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price recorded a noticeable downturn. The pace of growth was the most pronounced in 2014 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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