Asia-Pacific: Lock And Key Market 2024

Lock And Key Market Size in Asia-Pacific

In 2022, the Asia-Pacific lock and key market was finally on the rise to reach $X after three years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Lock And Key Production in Asia-Pacific

In value terms, lock and key production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Lock And Key Exports

Exports in Asia-Pacific

In 2022, overseas shipments of padlocks, locks and keys of base metal decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell slightly in the following year.

In value terms, lock and key exports expanded to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), committing a X% share of total exports. The following exporters - South Korea (X tons), India (X tons), Malaysia (X tons) and Thailand (X tons) - together made up X% of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Malaysia (X%), South Korea (X%) and India (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. Taiwan (Chinese) and Thailand experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest lock and key supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

In China, lock and key exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Lock And Key Imports

Imports in Asia-Pacific

Lock and key imports contracted to X tons in 2022, flattening at 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X tons, leveling off in the following year.

In value terms, lock and key imports dropped to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, India (X tons), distantly followed by Indonesia (X tons), Japan (X tons), South Korea (X tons), China (X tons), Australia (X tons), Thailand (X tons), Vietnam (X tons) and Malaysia (X tons) were the key importers of padlocks, locks and keys of base metal, together mixing up X% of total imports. Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), Bangladesh (X tons) and Singapore (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lock and key importing markets in Asia-Pacific were China ($X), Japan ($X) and Australia ($X), with a combined X% share of total imports. India, Vietnam, South Korea, Indonesia, Thailand, Malaysia, Singapore, Taiwan (Chinese), Hong Kong SAR and Bangladesh lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, remaining constant against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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