Asia: Base Metal Padlock Market 2025

Base Metal Padlock Market Size in Asia

The Asian base metal padlock market dropped rapidly to $X in 2022, declining by -27.7% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 9.4%. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Base Metal Padlock Production in Asia

In value terms, base metal padlock production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 27% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Base Metal Padlock Exports

Exports in Asia

In 2022, the amount of base metal padlocks exported in Asia expanded markedly to X tons, surging by 11% on the year before. Overall, exports saw a slight expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 19% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, base metal padlock exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 26%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, accounting for X tons, which was approx. 94% of total exports in 2022. India (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +1.0% from 2012 to 2022. At the same time, India (+27.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +27.0% from 2012-2022. India (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest base metal padlock supplier in Asia, comprising 93% of total exports. The second position in the ranking was taken by India ($X), with a 1.2% share of total exports.

In China, base metal padlock exports increased at an average annual rate of +4.4% over the period from 2012-2022.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, with an increase of 5.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2015 an increase of 24%. As a result, the export price attained the peak level of $X per ton. From 2016 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 China ($X per ton), while India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.3%).

Base Metal Padlock Imports

Imports in Asia

In 2022, approx. X tons of base metal padlocks were imported in Asia; which is down by -15.4% against the year before. Over the period under review, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 12%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, base metal padlock imports dropped dramatically to $X in 2022. Overall, imports showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X tons), followed by Bangladesh (X tons), the United Arab Emirates (X tons), Iran (X tons), Malaysia (X tons) and Iraq (X tons) represented the main importers of base metal padlocks, together mixing up 51% of total imports. The following importers - the Philippines (X tons), Hong Kong SAR (X tons), Thailand (X tons), Democratic People's Republic of Korea (X tons), Turkey (X tons), Myanmar (X tons) and Uzbekistan (X tons) - together made up 26% of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +42.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Hong Kong SAR ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 30% of total imports. Bangladesh, Malaysia, Iran, Thailand, Iraq, the Philippines, Turkey, Democratic People's Republic of Korea, Myanmar and Uzbekistan lagged somewhat behind, together accounting for a further 32%.

In terms of the main importing countries, Myanmar, with a CAGR of +19.4%, 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

The import price in Asia stood at $X per ton in 2022, waning by -3.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2021 an increase of 10%. As a result, import price attained the peak level of $X per ton, and then fell slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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