Eastern Asia: Lock And Key Market 2024

Lock And Key Market Size in Eastern Asia

The East Asian lock and key market rose rapidly to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Lock And Key Production in Eastern Asia

In value terms, lock and key production totaled $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 indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Lock And Key Exports

Exports in Eastern 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 moderate increase 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 pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted slightly in the following year.

In value terms, lock and key exports stood at $X in 2022. Total exports indicated strong 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, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

China prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), generating a X% share of total exports. South Korea (X tons) took a little share 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, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. China (X p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest lock and key supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports.

In China, lock and key exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the export price increased by 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 remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($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 mixed trends in the export price figures.

Lock And Key Imports

Imports in Eastern Asia

In 2022, lock and key imports in Eastern Asia fell to X tons, with a decrease of X% against the previous year's figure. The total import volume increased at an average annual rate of X% over the period 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 with an increase of X%. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, lock and key imports fell 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 growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, Japan (X tons), South Korea (X tons) and China (X tons) represented the major importer of padlocks, locks and keys of base metal in Eastern Asia, making up X% of total import. Hong Kong SAR (X tons) ranks next in terms of the total imports with an X% share, followed by Taiwan (Chinese) (X%). Democratic People's Republic of Korea (X tons) took a little share of total imports.

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

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

In terms of the main importing countries, South Korea, with a CAGR of X%, recorded 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

The import price in Eastern Asia stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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