China: Base Metal Padlock Market 2024

Base Metal Padlock Market Size in China

The Chinese base metal padlock market dropped markedly to $X in 2022, waning by -53.7% against the previous year. Over the period under review, consumption recorded a noticeable shrinkage. Base metal padlock consumption peaked at $X in 2021, and then shrank notably in the following year.

Base Metal Padlock Production in China

In value terms, base metal padlock production fell slightly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. Base metal padlock production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Base Metal Padlock Exports

Exports from China

In 2022, the amount of base metal padlocks exported from China reached X tons, picking up by 11% against 2021 figures. The total export volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when exports increased by 20%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, base metal padlock exports surged to $X in 2022. The total export value increased at an average annual rate of +4.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when exports increased by 28% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons), Nigeria (X tons) and India (X tons) were the main destinations of base metal padlock exports from China, with a combined 21% share of total exports. Pakistan, Kenya, Mexico, Tanzania, Indonesia, the United Arab Emirates, Thailand, South Africa, the Philippines and Russia lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Tanzania (with a CAGR of +8.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for base metal padlocks exports from China, comprising 14% of total exports. The second position in the ranking was held by Nigeria ($X), with a 5.8% share of total exports. It was followed by India, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+10.5% per year) and India (+14.6% per year).

Export Prices by Country

In 2022, the average base metal padlock export price amounted to $X per ton, increasing by 9% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The pace of growth appeared the most rapid in 2015 when the average export price increased by 28% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Russia ($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 the United Arab Emirates (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Padlock Imports

Imports into China

In 2022, the amount of base metal padlocks imported into China rose notably to X tons, surging by 6.7% compared with 2021 figures. In general, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -20.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 69% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, base metal padlock imports skyrocketed to $X in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +74.5% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest base metal padlock supplier to China, accounting for a 38% share of total imports. Moreover, base metal padlock imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. Finland (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+9.5% per year) and Finland (+5.0% per year).

In value terms, the largest base metal padlock suppliers to China were the United States ($X), Mexico ($X) and Finland ($X), together accounting for 47% of total imports. France, Germany, Italy, Austria and Poland lagged somewhat behind, together accounting for a further 15%.

Among the main suppliers, Poland, with a CAGR of +455.5%, recorded the highest growth rate of 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 average base metal padlock import price stood at $X per ton in 2022, growing by 31% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, base metal padlock import price increased by +97.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 50% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 France ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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