Southern Asia: Metal Furniture Lock Market 2024

Metal Furniture Lock Market Size in Southern Asia

In 2022, the South Asian metal furniture lock market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, posted a buoyant increase. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Metal Furniture Lock Production in Southern Asia

In value terms, metal furniture lock production reduced slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Metal Furniture Lock Exports

Exports in Southern Asia

In 2022, shipments abroad of base metal furniture locks decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, metal furniture lock exports contracted rapidly to $X in 2022. In general, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then declined remarkably in the following year.

Exports by Country

The shipments of the one major exporters of base metal furniture locks, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the base metal furniture locks exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest metal furniture lock supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India amounted to X%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price, however, posted a perceptible increase. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Metal Furniture Lock Imports

Imports in Southern Asia

In 2022, the amount of base metal furniture locks imported in Southern Asia reduced to X tons, dropping by X% compared with 2021. Overall, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, metal furniture lock imports expanded significantly to $X in 2022. Total imports 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

India was the key importing country with an import of about X tons, which resulted at X% of total imports. Bangladesh (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (X%). Sri Lanka (X tons) held a relatively small share of total imports.

India was also the fastest-growing in terms of the base metal furniture locks imports, with a CAGR of X% from 2012 to 2022. At the same time, Bangladesh (X%) and Pakistan (X%) displayed positive paces of growth. By contrast, Sri Lanka (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Bangladesh ($X) and Pakistan ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Bangladesh, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 Southern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price 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, metal furniture lock import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bangladesh ($X per ton), while Pakistan ($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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