The 2011 Import and Export Market for Iron and Steel Chain and Chain Parts in India by ICONGroup


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									   The 2011 Import and Export
    Market for Iron and Steel
    Chain and Chain Parts in

                         Professor Philip M. Parker, Ph. D.
                      Chaired Professor of Management Science
                    INSEAD (Singapore & Fontainebleau, France)                                      ©2011 ICON Group Ltd.

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                                About the Author
Dr. Philip M. Parker is the Eli Lilly Chaired Professor of Innovation, Business and Society at
INSEAD where he has taught courses on multivariate statistics and global competitive strategy
since 1988. He has also taught courses at MIT, Stanford University, Harvard University, UCLA,
UCSD, and the Hong Kong University of Science and Technology. He is the author of six books
on the economic convergence of nations. These books introduce the notion of “physioeconomics”
which foresees a lack of global convergence in economic behaviors due to physiological and
physiographic forces. His latest book is "Physioeconomics: The Basis for Long-Run Economic
Growth" (MIT Press 2000). He has also published numerous articles in academic journals,
including The Rand Journal of Economics, Marketing Science, the Journal of International
Business Studies, Technological Forecasting and Social Change, International Journal of
Forecasting, the European Management Journal, the European Journal of Operational
Research, Journal of Marketing, International Journal of Research in Marketing, and Journal of
Marketing Research. He is also on the editorial boards of several academic journals.

Dr. Parker received his Ph.D. in Business Economics from the Wharton School of the University
of Pennsylvania and has Masters degrees in Finance and Banking (University of Aix-Marseille)
and Managerial Economics (Wharton). His undergraduate degrees are in mathematics, biology
and economics (minor in aeronautical engineering). He has consulted and/or taught courses in
Africa, the Middle East, Asia, Latin America, North America and Europe.

                                 About this Series
This series was created for international firms who rely on foreign export markets for a
substantial portion of their business or who might be threatened by foreign trade competition.
The estimates given in this report were created using a methodology developed by and under the
direct supervision of Professor Philip M. Parker, the Eli Lilly Chaired Professor of Innovation,
Business and Society, at INSEAD. The methodology, relying on historical figures of economic
growth and trade flows, estimates the market shares of some 150 countries for over 500 industrial
or product categories. The figures should be seen as market estimates, as opposed to historical
records, as these are projected for the current year of trade.

Some of the methodologies and research approaches used in this report have benefited from the
R&D Committee at INSEAD, whose research support is gratefully acknowledged. Additional
editorial assistance from Tiffany LaRochelle, ICON Group International, Inc., is also
acknowledged.                                                    ©2011 ICON Group Ltd.

                           About ICON Group Ltd.
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                                                   Contents        v

Table of Contents
1     INTRODUCTION AND METHODOLOGY                             7
2     INDIA AND THE WORLD MARKET                               9
    2.1        Imports in India in 2011                        9
    2.2        Exports from India in 2011                     10
3     IMPORTS IN INDIA                                        11
    3.1        Asia                                           11
       3.1.1      China                                       11
       3.1.2      Hong Kong                                   12
       3.1.3      Japan                                       13
       3.1.4      Singapore                                   14
       3.1.5      South Korea                                 15
       3.1.6      Taiwan                                      16
       3.1.7      Thailand                                    17
    3.2        Europe                                         18
       3.2.1      Belgium                                     18
       3.2.2      Czech Republic                              19
       3.2.3      Denmark                                     20
       3.2.4      Germany                                     21
       3.2.5      Italy                                       22
       3.2.6      Switzerland                                 23
       3.2.7      the Netherlands                             24
    3.3        North America & the Caribbean                  25
       3.3.1      the United States                           25
    3.4        the Middle East                                26
       3.4.1      Turkey                                      26
4     EXPORTS FROM INDIA                                      27
    4.1        Africa                                         27
       4.1.1      South Africa                                27
       4.1.2      Tanzania                                    28
       4.1.3      Uganda                                      28
    4.2        Asia                                           29
       4.2.1      Singapore                                   29
    4.3        Europe                                         30
       4.3.1      Belgium                                     30
       4.3.2      France                                      31
       4.3.3      Germany                                     32
       4.3.4      Ireland                                     33
       4.3.5      Italy                                       34
       4.3.6      Luxembourg                                  35
       4.3.7      Sweden                                      36
       4.3.8      the Netherlands                             37
       4.3.9      the United Kingdom                          38
    4.4        Latin America                                  39
       4.4.1      Mexico                                      39
    4.5        North America & the Caribbean                  40
       4.5.1      Canada                                      40
       4.5.2      the United States                           41
    4.6        the Middle East                                42                        ©2011 ICON Group Ltd.
                                                              Contents        vi

      4.6.1     Bahrain                                                  42
      4.6.2     Qatar                                                    42
      4.6.3     Saudi Arabia                                             43
      4.6.4     Turkey                                                   44
    5.1       Disclaimers & Safe Harbor                                  45
    5.2       ICON Group Ltd. User Agreement Provisions                  46                                   ©2011 ICON Group Ltd.
                                               Iron and Steel Chain and Chain Parts in India     7

On the demand side, exporters and strategic planners focusing on iron and steel chain and chain
parts in India face a number of questions. Which countries are supplying iron and steel chain and
chain parts to India? How important is India compared to others in terms of the entire global and
regional market? How much do the imports of iron and steel chain and chain parts vary from one
country of origin to another in India? On the supply side, India also exports iron and steel chain
and chain parts. Which countries receive the most exports from India? How are these exports
concentrated across buyers? What is the value of these exports and which countries are the
largest buyers?

This report was created for strategic planners, international marketing executives and
import/export managers who are concerned with the market for iron and steel chain and chain
parts in India. With the globalization of this market, managers can no longer be contented with a
local view. Nor can managers be contented with out-of-date statistics which appear several years
after the fact. I have developed a methodology, based on macroeconomic and trade models, to
estimate the market for iron and steel chain and chain parts for those countries serving India via
exports, or supplying from India via imports. It does so for the current year based on a variety of
key historical indicators and econometric models.

In what follows, Chapter 2 begins by summarizing where India fits into the world market for
imported and exported iron and steel chain and chain parts. The total level of imports and exports
on a worldwide basis, and those for India in particular, is estimated using a model which
aggregates across over 150 key country markets and projects these to the current year. From
there, each country represents a percent of the world market. This market is served from a
number of competitive countries of origin. Based on both demand- and supply-side dynamics,
market shares by country of origin are then calculated across each country market destination.
These shares lead to a volume of import and export values for each country and are aggregated to
regional and world totals. In doing so, we are able to obtain maximum likelihood estimates of
both the value of each market and the share that India is likely to receive this year. From these
figures, rankings are calculated to allow managers to prioritize India compared to other major
country markets. In this way, all the figures provided in this report are forecasts that can be
combined with internal information sources for strategic planning purposes.

After the worldwide summary in Chapter 2 of both imports and exports of iron and steel chain
and chain parts, Chapter 3 goes into detail on imports, but for each major country of origin
serving India. A “major” market is defined as a country where India represents a substantially
large share of either imports or exports. For each major country exporting to India, one can thus
observe how important India is to that exporting country compared to other countries of the
world. Chapter 4 does the same, but for exports of iron and steel chain and chain parts
originating from India, for each major country of destination. In doing so, one can discover the
share that India has in each major market; this share value is often used as a measure of
competitiveness for India. In all cases, the total dollar volume and percentage share values by                                                       ©2011 ICON Group Ltd.
                                                 Iron and Steel Chain and Chain Parts in India      8

major trading partner are provided. Combined, Chapters 3 and 4 present a the total picture for
imports and exports of iron and steel chain and chain parts to and from India to and from all other
major countries in the world. "Iron and Steel Chain and Chain Parts" as a category is defined in
this report following the definition given by the United Nations Statistics Division Classification
Registry using the Standard International Trade Classification, Revision 3 (SITC, Rev. 3). The
SITC code that defined "iron and steel chain and chain parts" is 6992 . For more information on
this definition, please refer to the following web site: .

This report is updated on an annual basis. To ensure that you have the most current version,
please check the web site of ICON Group at

Important Caveat. The figures should be seen as market estimates, as opposed to historical
records, as these are forecasted for the current year of trade. More importantly, in light of the fact
that unforeseeable factors might interrupt markets in achieving their reported levels, the figures
should be seen as estimates of potential. For example, "mad cow" disease, foot-and-mouth
disease, trade embargoes, military conflicts, acts of terrorism and other events will certainly
affect the actual trade flows recorded for a variety of industry or product categories. In such
cases, the difference between the numbers given in this report and the numbers actually observed
might be interpreted as the "net loss" or "net gain" due to these exogenous events affecting
regular trade flows that would have occurred had these events not have taken place.                                                         ©2011 ICON Group Ltd.
                                                   Iron and Steel Chain and Chain Parts in India        9

2.1         IMPORTS IN INDIA IN 2011
              Imported Iron and Steel Chain and Chain Parts in India, 2011
                              (Structure of Foreign Import Competition)

Country of Origin             Rank         Value (000 US$)              % Share        Cumulative %
China                             1                     1,662               20.63                   20.63
Germany                           2                     1,467               18.21                   38.84
the United States                 3                     1,376               17.08                   55.91
Taiwan                            4                       754                9.36                   65.27
Italy                             5                       607                7.53                   72.81
Singapore                         6                       384                4.77                   77.57
the Netherlands                   7                       296                3.67                   81.25
Japan                             8                       221                2.74                   83.99
Hong Kong                         9                       184                2.28                   86.27
Czech Republic                   10                       183                2.27                   88.54
South Korea                      11                       178                2.21                   90.75
Belgium                          12                       170                2.11                   92.86
the United Kingdom               13                       126                1.56                   94.43
Denmark                          14                       122                1.51                   95.94
France                           15                        80                0.99                   96.93
Turkey                           16                        67                0.83                   97.77
Switzerland                      17                        67                0.83                   98.60
Sweden                           18                        67                0.83                   99.43
Thailand                         19                        34                0.42                   99.85
Austria                          20                        12                0.15                  100.00
Total                                                   8,057              100.00                  100.00
    Source: Philip M. PARKER, Professor, INSEAD, copyright 2011,                                                           ©2011 ICON Group Ltd.
                                                   Iron and Steel Chain and Chain Parts in India       10

2.2         EXPORTS FROM INDIA IN 2011
             Iron and Steel Chain and Chain Parts Exports from India, 2011
Country of Destination        Rank         Value (000 US$)              % Share        Cumulative %
Qatar                             1                     3,036               38.06                   38.06
the United Kingdom                2                       961               12.05                   50.11
Germany                           3                       760                9.53                   59.64
the Netherlands                   4                       694                8.70                   68.34
Sweden                            5                       674                8.45                   76.79
South Africa                      6                       392                4.91                   81.71
Uganda                            7                       382                4.79                   86.50
Italy                             8                       233                2.92                   89.42
the United States                 9                       197                2.47                   91.89
Belgium                          10                       121                1.52                   93.41
Turkey                           11                        87                1.09                   94.50
Ireland                          12                        81                1.02                   95.51
Luxembourg                       13                        80                1.00                   96.51
Singapore                        14                        70                0.88                   97.39
Bahrain                          15                        65                0.81                   98.21
Saudi Arabia                     16                        57                0.71                   98.92
Mexico                           17                        52                0.65                   99.57
Canada                           18                        17                0.21          
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