Asia: Lock And Key Market 2024

Lock And Key Market Size in Asia

The Asian lock and key market rose to $X in 2023, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Lock And Key Production in Asia

In value terms, lock and key production rose modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Lock And Key Exports

Exports in Asia

In 2023, overseas shipments of padlocks, locks and keys of base metal decreased by X% to X tons, falling for the second consecutive year after five years of growth. Total exports indicated temperate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, lock and key exports reduced to $X in 2023. Total exports indicated a resilient expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2022, and then reduced in the following year.

Exports by Country

China dominates exports structure, recording X tons, which was near X% of total exports in 2023. It was distantly followed by Taiwan (Chinese) (X tons), committing a X% share of total exports. The following exporters - Turkey (X tons), South Korea (X tons), India (X tons), Malaysia (X tons) and Vietnam (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to lock and key exports from China stood at X%. At the same time, Vietnam (X%), Malaysia (X%), Turkey (X%), India (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. South Korea experienced a relatively flat trend pattern. China (X p.p.) and Vietnam (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 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in China totaled X%. 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

The export price in Asia stood at $X per ton in 2023, dropping by X% against the previous year. Export price indicated a mild increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 2023, 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 2023, lock and key imports in Asia was estimated at X tons, remaining stable against 2022 figures. The total import volume increased at an average annual rate of X% from 2012 to 2023; 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 attained the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, lock and key imports reduced to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2022, and then shrank in the following year.

Imports by Country

In 2023, India (X tons), followed by Indonesia (X tons), Japan (X tons), Malaysia (X tons), South Korea (X tons) and Vietnam (X tons) represented the major importers of padlocks, locks and keys of base metal, together generating X% of total imports. Thailand (X tons), the United Arab Emirates (X tons), Turkey (X tons), China (X tons), Saudi Arabia (X tons), Hong Kong SAR (X tons) and Uzbekistan (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Uzbekistan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports. South Korea, India, Turkey, the United Arab Emirates, Indonesia, Thailand, Malaysia, Hong Kong SAR, Saudi Arabia and Uzbekistan lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Uzbekistan, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the import price in Asia amounted to $X per ton, dropping by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The level of import peaked at $X per ton in 2022, and then dropped in the following year.

Prices varied noticeably by country of destination: 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 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform