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China - Padlocks, Locks And Keys Of Base Metal - Market Analysis, Forecast, Size, Trends and Insights
Report Update: May 1, 2024

China - Padlocks, Locks And Keys Of Base Metal - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Jun 17, 2023

China's Lock and Key Export Grows Slightly to $1.7B in April 2023

China Lock And Key Exports

In April 2023, the amount of padlocks, locks and keys of base metal exported from China rose significantly to 279K tons, increasing by 9% against the previous month's figure. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 with an increase of 135% against the previous month.

In value terms, lock and key exports rose slightly to $1.7B (IndexBox estimates) in April 2023. Overall, total exports indicated a modest increase from April 2022 to April 2023: its value increased at an average monthly rate of +1.1% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on April 2023 figures, exports increased by +144.6% against February 2023 indices. The most prominent rate of growth was recorded in March 2023 with an increase of 140% m-o-m.

COUNTRYExport Value of Lock And Key in China (million USD)
Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023
United States312338344329306301268273289284125291289
Vietnam97.211810184.678.781.297.010090.546.347.595.085.6
Malaysia53.257.764.559.756.158.953.167.177.263.830.185.771.3
India65.986.410690.468.398.091.093.788.210222.453.969.6
United Kingdom47.348.952.450.946.840.642.140.844.064.723.856.355.8
Germany55.856.258.262.156.142.538.741.442.246.424.044.151.6
Russia27.038.035.754.158.743.137.145.449.043.219.936.447.4
Japan36.548.146.249.746.744.946.045.750.744.330.746.244.9
Thailand32.238.643.537.830.838.540.240.643.541.914.941.340.4
Mexico33.833.939.535.733.232.331.342.443.333.810.938.135.8
Poland22.232.725.725.319.018.416.018.724.030.46.223.030.1
Indonesia25.646.345.945.634.744.142.144.941.642.512.346.829.3
Brazil22.722.620.226.123.532.427.024.530.127.46.117.824.4
Others650793847802709757774818838909313770805
Total1,4811,7581,8291,7531,5681,6321,6031,6961,7511,7796871,6451,679

Exports by Country

The United States (42K tons) was the main destination for lock and key exports from China, with a 15% share of total exports. Moreover, lock and key exports to the United States exceeded the volume sent to the second major destination, Vietnam (16K tons), threefold. India (13K tons) ranked third in terms of total exports with a 4.6% share.

From April 2022 to April 2023, the average monthly growth rate of volume to the United States stood at -2.2%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Vietnam (-0.9% per month) and India (-0.2% per month).

In value terms, the United States ($289M) remains the key foreign market for lock and key exports from China, comprising 17% of total exports. The second position in the ranking was held by Vietnam ($86M), with a 5.1% share of total exports. It was followed by Malaysia, with a 4.2% share.

From April 2022 to April 2023, the average monthly growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: Vietnam (-1.1% per month) and Malaysia (+2.5% per month).

Exports by Type

Base metal mountings, fittings and similar articles for furniture, doors, staircases, windows, trunks, chests etc, castors with mountings of base metal, automatic door closers of base metal (230K tons) was the largest type of lock and key exported from China, with a 83% share of total exports. Moreover, base metal mountings, fittings and similar articles for furniture, doors, staircases, windows, trunks, chests etc, castors with mountings of base metal, automatic door closers of base metal exceeded the volume of the second product type, locks; (other than those for motor vehicles or furniture), (key, combination or electrically operated), of base metal (24K tons), tenfold. Base metal padlocks (16K tons) ranked third in terms of total exports with a 5.9% share.

From April 2022 to April 2023, the average monthly growth rate of the volume of export of base metal mountings, fittings and similar articles for furniture, doors, staircases, windows, trunks, chests etc, castors with mountings of base metal, automatic door closers of base metal was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: locks; (other than those for motor vehicles or furniture), (key, combination or electrically operated), of base metal (+1.1% per month) and base metal padlocks (+2.1% per month).

In value terms, base metal mountings, fittings and similar articles for furniture, doors, staircases, windows, trunks, chests etc, castors with mountings of base metal, automatic door closers of base metal ($1.3B) remains the largest type of lock and key exported from China, comprising 76% of total exports. The second position in the ranking was taken by locks; (other than those for motor vehicles or furniture), (key, combination or electrically operated), of base metal ($217M), with a 13% share of total exports. It was followed by base metal padlocks, with a 5.7% share.

From April 2022 to April 2023, the average monthly growth rate of the export volume of base metal mountings, fittings and similar articles for furniture, doors, staircases, windows, trunks, chests etc, castors with mountings of base metal, automatic door closers of base metal was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: locks; (other than those for motor vehicles or furniture), (key, combination or electrically operated), of base metal (+1.9% per month) and base metal padlocks (+2.7% per month).

Export Prices by Country

In April 2023, the lock and key price stood at $6,024 per ton (FOB, China), waning by -6.4% against the previous month. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 an increase of 6.3% against the previous month. The export price peaked at $6,435 per ton in March 2023, and then shrank in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was Japan ($8,460 per ton), while the average price for exports to Brazil ($3,377 per ton) was amongst the lowest.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the lock and key market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 25721130 - Base metal padlocks
  • Prodcom 25721150 - Base metal motor vehicle locks
  • Prodcom 25721170 - Base metal furniture locks
  • Prodcom 25721230 - Base metal cylinder locks used for doors of buildings
  • Prodcom 25721250 - Base metal locks used for doors of buildings (excluding cylinder locks)
  • Prodcom 25721270 - Base metal locks (excluding padlocks, motor vehicle locks, f urniture locks and locks used for doors of buildings)
  • Prodcom 25721330 - Base metal clasps and frames with clasps, with locks (excluding fasteners and clasps for handbags, brief-cases and executive-cases)
  • Prodcom 25721350 - Base metal keys presented separately (including roughly cast, forged or stamped blanks, skeleton keys)
  • Prodcom 25721410 - Base metal hinges
  • Prodcom 25721420 - Castors with mountings of base metal
  • Prodcom 25721430 - Base metal mountings, fittings and similar articles suitable for motor vehicles (excluding hinges, castors, locks and keys)
  • Prodcom 25721440 - Base metal mountings, fittings and similar articles suitable for buildings (excluding hinges, castors, locks, keys, spy holes fitted with optical elements and key operated door bolts)
  • Prodcom 25721450 - Base metal mountings, fittings and similar articles suitable for furniture (excluding hinges, castors, locks and keys)
  • Prodcom 25721460 - Other base metal mountings, fittings and similar articles (excluding for motor vehicles, buildings or furniture)
  • Prodcom 25721470 - Base metal automatic door closers
  • Prodcom 25721480 - Base metal hat-racks, hat-pegs, brackets, coat racks, towel racks, dish-cloth racks, brush racks and key racks (excluding coat-racks having the character of furniture)

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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