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

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

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Article Publishing Date: Jul 23, 2023

May 2023 Sees Astonishing $922M Increase in U.S. Import of Locks and Keys

U.S. Lock And Key Imports

In May 2023, purchases abroad of padlocks, locks and keys of base metal increased by 7.4% to 127K tons, rising for the second consecutive month after two months of decline. In general, imports, however, continue to indicate a mild curtailment. The pace of growth appeared the most rapid in April 2023 when imports increased by 11% month-to-month.

In value terms, lock and key imports rose notably to $922M (IndexBox estimates) in May 2023. Overall, imports, however, saw a relatively flat trend pattern.

COUNTRYImport Value of Lock And Key in U.S. (million USD)
May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023
China363387381398351347283284302244184254277
Mexico174177183201180184163159174179206178202
Canada98.910084.310899.510381.710310299.311097.1113
Taiwan (Chinese)11711010512310710792.290.388.171.160.470.077.7
South Korea37.435.536.037.240.240.643.137.539.138.140.641.438.9
Germany37.229.736.430.934.136.834.727.833.431.132.430.633.8
Japan35.320.826.523.129.932.327.728.327.126.330.729.529.7
Vietnam30.936.727.532.231.237.535.131.234.327.821.934.628.6
India20.516.819.918.020.820.219.615.119.815.415.717.616.6
Austria16.518.615.114.713.616.911.716.316.212.29.45.59.2
Others99.910193.896.599.397.490.789.391.075.897.587.395.9
Total1,0311,0331,0081,0821,0061,023883881927820809846922

Imports by Country

In May 2023, China (60K tons) constituted the largest lock and key supplier to the United States, accounting for a 48% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, Mexico (17K tons), threefold. The third position in this ranking was held by Canada (16K tons), with a 12% share.

From May 2022 to May 2023, the average monthly growth rate of volume from China totaled -2.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (+0.9% per month) and Canada (+0.8% per month).

In value terms, the largest lock and key suppliers to the United States were China ($277M), Mexico ($202M) and Canada ($113M), with a combined 64% share of total imports.

In terms of the main suppliers, Mexico, with a CAGR of +1.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Imports by Type

In May 2023, 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 (113K tons) constituted the largest type of lock and key supplied to the United States, accounting for a 89% share of total imports. 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 figures recorded for the second-largest type, locks; (other than those for motor vehicles or furniture), (key, combination or electrically operated), of base metal (6.1K tons), more than tenfold. The third position in this ranking was taken by base metal motor vehicle locks (5.8K tons), with a 4.6% share.

From May 2022 to May 2023, the average monthly rate of growth in terms of the volume of import 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 totaled -1.7%. With regard to the other supplied 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 (-1.2% per month) and base metal motor vehicle locks (+1.8% 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 ($706M) constituted the largest type of lock and key supplied to the United States, comprising 77% of total imports. 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 ($110M), with a 12% share of total imports. It was followed by base metal motor vehicle locks, with a 7.5% share.

Import Prices by Country

In May 2023, the lock and key price stood at $7,285 per ton (CIF, US), rising by 1.6% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 4.1% against the previous month. Over the period under review, average import prices attained the peak figure at $7,628 per ton in March 2023; however, from April 2023 to May 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In May 2023, the country with the highest price was Germany ($14,906 per ton), while the price for China ($4,596 per ton) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Germany (+3.0%), while the prices for the other major suppliers 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 the U.S.. 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:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • 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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