Thailand: Lock And Key Market 2024

Lock And Key Market Size in Thailand

The Thai lock and key market amounted to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Lock and key consumption peaked at $X in 2019; afterwards, it flattened through to 2022.

Lock And Key Production in Thailand

In value terms, lock and key production shrank modestly to $X in 2022 estimated in export price. The total output 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 in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Lock and key production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Lock And Key Exports

Exports from Thailand

In 2022, after two years of growth, there was significant decline in overseas shipments of padlocks, locks and keys of base metal, when their volume decreased by X% to X tons. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, lock and key exports reduced to $X in 2022. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons), Argentina (X tons) and Malaysia (X tons) were the main destinations of lock and key exports from Thailand, with a combined X% share of total exports. South Africa, Japan, Myanmar, Indonesia, Brazil, the Philippines, Pakistan, Vietnam, India and Cambodia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United States ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Japan (X% per year).

Export Prices by Country

The average lock and key export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Thailand

For the third consecutive year, Thailand recorded growth in purchases abroad of padlocks, locks and keys of base metal, which increased by X% to X tons in 2022. Over the period under review, total imports indicated a noticeable 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, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, lock and key imports rose notably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest lock and key supplier to Thailand, with a X% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The third position in this ranking was taken by Indonesia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Indonesia (X% per year).

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Thailand, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with an X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Germany (X% per year).

Import Prices by Country

The average lock and key import price stood at $X per ton in 2022, approximately equating the previous year. Overall, the import price, however, continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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