Belgium: Lock And Key Market 2025

Lock And Key Market Size in Belgium

In 2021, the Belgian lock and key market decreased by -19.9% to $X, falling for the fourth consecutive year after three years of growth. Overall, consumption showed a perceptible curtailment. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Lock And Key Production in Belgium

In value terms, lock and key production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 8.7% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Lock And Key Exports

Exports from Belgium

In 2021, lock and key exports from Belgium soared to X tons, growing by 50% against 2020. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 85% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, lock and key exports skyrocketed to $X in 2021. In general, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +77.6% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 37% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X tons), France (X tons) and Germany (X tons) were the main destinations of lock and key exports from Belgium, together accounting for 65% of total exports. Spain, Poland, the UK, Brazil, China, Italy, the United States, Portugal and Luxembourg lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +47.7%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), France ($X) and Germany ($X) appeared to be the largest markets for lock and key exported from Belgium worldwide, together accounting for 56% of total exports. These countries were followed by the UK, Poland, Italy, the United States, China, Spain, Brazil, Portugal and Luxembourg, which together accounted for a further 27%.

Brazil, with a CAGR of +26.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lock and key export price amounted to $X per ton, declining by -13.1% against the previous year. Over the period under review, the export price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by 10%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+1.5%), while the prices for the other major destinations experienced a decline.

Lock And Key Imports

Imports into Belgium

After three years of decline, purchases abroad of padlocks, locks and keys of base metal increased by 12% to X tons in 2021. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 20% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, lock and key imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and Austria (X tons) were the main suppliers of lock and key imports to Belgium, with a combined 57% share of total imports. The Netherlands, France, Italy, Portugal, Poland, the Czech Republic, Sweden, Spain and the UK lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +8.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the Netherlands ($X) constituted the largest lock and key suppliers to Belgium, together comprising 56% of total imports. Austria, the Czech Republic, France, Italy, Portugal, Spain, Sweden, Poland and the UK lagged somewhat behind, together comprising a further 34%.

Sweden, with a CAGR of +11.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lock and key import price stood at $X per ton in 2021, picking up by 5.9% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 11% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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