Which Country Exports the Most Metal Padlocks, Locks and Keys in the World?

Cutlery, Hand Tools And General Hardware May 28, 2018
Author: Sergey Avramenko
Head of Global Markets Research Team

In 2016, the global lock and key exports stood at 1.2M tonnes, standing approx. at the previous year level. The total export volume increased at an average annual rate of +2.3% over the period from 2007 to 2016; the trend pattern remained consistent, with only minor fluctuations being recorded over the period under review. The pace of growth appeared the most rapid in 2010, when exports increased by 21% against the previous year level. Over the period under review, global lock and key exports reached its maximum volume of 1.2M tonnes in 2015, leveling off in the following year.

In value terms, lock and key exports stood at $12B in 2016. The total export value increased at an average annual rate of +2.2% from 2007 to 2016; the trend pattern indicated some noticeable fluctuations in certain years. Global lock and key export peaked of $13B in 2014; however, from 2015 to 2016, it failed to regain its strength.

Top Lock And Key Exporting Countries in the World

1. China (3,925.5 million USD)

2. Germany (1,304.9 million USD)

3. Mexico (1,076.1 million USD)

4. USA (779.0 million USD)

5. Czech Republic (559.4 million USD)

6. Italy (454.8 million USD)

7. South Korea (451.9 million USD)

8. China, Hong Kong SAR (242.9 million USD)

9. Turkey (125.7 million USD)

Lock And Key Exports By Country

China (571K tonnes) was the main exporting country with an export of about 571K tonnes, which accounted for 49% of total exports. Mexico (150K tonnes) held the second position in the ranking, distantly followed by Germany (64K tonnes), and the U.S. (52K tonnes). All these countries together held near 23% share of total exports. Italy (33K tonnes), Czech Republic (31K tonnes), South Korea (28K tonnes), China, Hong Kong SAR (20K tonnes), and Turkey (20K tonnes) took the weak share of total exports.

From 2007 to 2016, average annual rates of growth with regard to lock and key exports from China stood at +3.5%. At the same time, South Korea (+10.5%), Mexico (+9.6%), and Turkey (+3.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest growing importer/exporter in the world, with a CAGR of +10.5% from 2007-2016. Czech Republic, Germany, the U.S., and Italy experienced a relatively flat trend pattern. By contrast, China, Hong Kong SAR (-7.1%) illustrated a downward trend over the same period. While the share of China, Hong Kong SAR (2%) increased significantly, the share of Mexico (-7.3%), and China (-13.1%) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.9B) remains the largest lock and key supplier in the world, making up 32% of global exports. The second position in the ranking was occupied by Germany ($1.3B), with the share of 11% of global exports. It was followed by Mexico, with the share of 9%.

From 2007 to 2016, the average annual rate of growth in terms of value of lock and key exports in China stood at +8.0%. In the other countries, the average annual rates were as follows: Germany (-1.2% per year) and Mexico (+0.3% per year).

Lock And Key Export Prices By Country

The average lock and key export price stood at $11 per kg in 2016, falling by -1.5% against the previous year. In general, lock and key export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011, when it surged by 10% year-to-year. Over the period under review, average lock and key export price attained its maximum level of $11 per kg in 2013; however, from 2014 to 2016, it stood at a somewhat lower level.

There were significant differences in the average export prices amongst major exporting countries. In 2016, the country with the highest export prices was Germany ($20 per kg), while Turkey ($6,287 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of lock and key export prices was attained by South Korea (+5.7% per year), while the other global leaders experienced more modest paces of growth.

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  • lock and key market share
  • lock and key prices
  • lock and key industry
  • lock and key sales
  • lock and key import
  • lock and key export
  • lock and key market forecast
  • lock and key price forecast
  • key lock and key producers

All data provided in this article covers the following product: HS Code 8301 - Padlocks and locks (key, combination, electrically operated) of base metal; clasps and frames with clasps incorporating locks, of base metal, keys for any or the foregoing articles, of base metal.

Source: World: Padlocks, Locks And Keys Of Base Metal - Market Report. Analysis and Forecast to 2025