Asia: Lock And Key Market 2024

Lock And Key Market Size in Asia

In 2022, the Asian lock and key market was finally on the rise to reach $X after two 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 only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Lock And Key Production in Asia

In value terms, lock and key production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Lock And Key Exports

Exports in Asia

After five years of growth, shipments abroad of padlocks, locks and keys of base metal decreased by X% to X tons in 2022. Total exports indicated a pronounced expansion 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 most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of export peaked at X tons in 2021, and then shrank slightly in the following year.

In value terms, lock and key exports rose markedly to $X in 2022. Total exports indicated a buoyant 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 growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

China dominates exports structure, recording X tons, which was near X% of total exports in 2022. The following exporters - Taiwan (Chinese) (X tons), Turkey (X tons), South Korea (X tons), India (X tons), Malaysia (X tons) and Thailand (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to lock and key exports from China stood at X%. At the same time, Malaysia (X%), South Korea (X%), Turkey (X%) and India (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia, 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 ($X) remains the largest lock and key supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($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 amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a lower figure.

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

In 2022, the amount of padlocks, locks and keys of base metal imported in Asia fell to X tons, shrinking by X% compared with 2021. 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 growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, lock and key imports amounted to $X in 2022. The total import value 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 most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, India (X tons), followed by Indonesia (X tons), Japan (X tons), South Korea (X tons), China (X tons), Thailand (X tons), Vietnam (X tons) and the United Arab Emirates (X tons) represented the main importers of padlocks, locks and keys of base metal, together generating X% of total imports. Turkey (X tons), Malaysia (X tons), Kyrgyzstan (X tons), Hong Kong SAR (X tons) and Uzbekistan (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Uzbekistan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lock and key importing markets in Asia were China ($X), Japan ($X) and India ($X), with a combined X% share of total imports. Vietnam, South Korea, Turkey, Indonesia, Thailand, Kyrgyzstan, the United Arab Emirates, Malaysia, Hong Kong SAR and Uzbekistan lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Kyrgyzstan, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, surging by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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