Report Update Feb 1, 2025

Cuba - Padlocks, Locks and Keys of Base Metal - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Lock And Key Market 2025

Lock And Key Market Size in Cuba

After two years of decline, the Cuban lock and key market increased by 27% to $X in 2021. Overall, consumption, however, recorded a deep contraction. Lock and key consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Lock And Key Exports

Exports from Cuba

In 2021, shipments abroad of padlocks, locks and keys of base metal decreased by -25.8% to X kg, falling for the fourth consecutive year after two years of growth. Overall, exports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 3,931% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, lock and key exports shrank modestly to $X in 2021. Over the period under review, exports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 2,426%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X kg) was the main destination for lock and key exports from Cuba, accounting for a 69% share of total exports. Moreover, lock and key exports to Spain exceeded the volume sent to the second major destination, Guatemala (X kg), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Spain totaled +31.4%.

In value terms, Spain ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Cuba, comprising 32% of total exports. The second position in the ranking was held by Guatemala ($X), with a 3.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain totaled +23.9%.

Export Prices by Country

In 2021, the average lock and key export price amounted to $X per ton, jumping by 31% against the previous year. In general, the export price showed mild growth. The growth pace was the most rapid in 2014 when the average export price increased by 66%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Guatemala stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+14.2%), while the prices for the other major destinations experienced mixed trend patterns.

Lock And Key Imports

Imports into Cuba

In 2021, after two years of decline, there was significant growth in supplies from abroad of padlocks, locks and keys of base metal, when their volume increased by 58% to X tons. Over the period under review, imports, however, saw a deep downturn. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, lock and key imports surged to $X in 2021. Overall, imports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 25%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of lock and key to Cuba, with a 31% share of total imports. Moreover, lock and key imports from Spain exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain amounted to +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-18.5% per year) and Italy (-4.7% per year).

In value terms, Spain ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Cuba, comprising 35% of total imports. The second position in the ranking was held by China ($X), with an 8.9% share of total imports. It was followed by Italy, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-20.6% per year) and Italy (-0.9% per year).

Import Prices by Country

The average lock and key import price stood at $X per ton in 2021, with a decrease of -24.6% against the previous year. Over the period under review, the import price showed a pronounced downturn. The most prominent rate of growth was recorded in 2015 an increase of 25% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Panama ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for padlocks, locks and keys of base metal in the world?

The countries with the highest volumes of lock and key consumption in 2020 were China, the United States and Germany, together accounting for 44% of global consumption. Mexico, Turkey, Canada, India, Poland, Russia, Italy, the UK, South Korea and Thailand lagged somewhat behind, together comprising a further 26%.

What are the largest producers of padlocks, locks and keys of base metal in the world?

China remains the largest lock and key producing country worldwide, comprising approx. 58% of total volume. Moreover, lock and key production in China exceeded the figures recorded by the second-largest producer, Germany, ninefold. The third position in this ranking was occupied by Turkey, with a 4.3% share.

What are the leading suppliers of padlocks, locks and keys of base metal to Cuba?

In value terms, Spain constituted the largest supplier of lock and key to Cuba, comprising 57% of total imports. The second position in the ranking was occupied by China, with a 17% share of total imports. It was followed by Canada, with a 6% share.

What are the leading importers of padlocks, locks and keys of base metal from Cuba?

In value terms, Canada $938) and Spain $667) appeared to be the largest markets for lock and key exported from Cuba worldwide.

What is the average export price for padlocks, locks and keys of base metal in Cuba?

In 2020, the average lock and key export price amounted to $14,725 per ton, dropping by -1.7% against the previous year.

What is the average import price for padlocks, locks and keys of base metal in Cuba?

In 2020, the average lock and key import price amounted to $8,137 per ton, with an increase of 6.4% against the previous year.

This report provides an in-depth analysis of the lock and key market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25721130 - Base metal padlocks
Prodcom 25721150 - Base metal motor vehicle locks
Prodcom 25721170 - Base metal furniture locks
Prodcom 25721230 - Base metal cylinder locks used for doors of buildings
Prodcom 25721250 - Base metal locks used for doors of buildings (excluding cylinder locks)
Prodcom 25721270 - Base metal locks (excluding padlocks, motor vehicle locks, f urniture locks and locks used for doors of buildings)
Prodcom 25721330 - Base metal clasps and frames with clasps, with locks (excluding fasteners and clasps for handbags, brief-cases and executive-cases)
Prodcom 25721350 - Base metal keys presented separately (including roughly cast, forged or stamped blanks, skeleton keys)
Prodcom 25721410 - Base metal hinges
Prodcom 25721420 - Castors with mountings of base metal
Prodcom 25721430 - Base metal mountings, fittings and similar articles suitable for motor vehicles (excluding hinges, castors, locks and keys)
Prodcom 25721440 - Base metal mountings, fittings and similar articles suitable for buildings (excluding hinges, castors, locks, keys, spy holes fitted with optical elements and key operated door bolts)
Prodcom 25721450 - Base metal mountings, fittings and similar articles suitable for furniture (excluding hinges, castors, locks and keys)
Prodcom 25721460 - Other base metal mountings, fittings and similar articles (excluding for motor vehicles, buildings or furniture)
Prodcom 25721470 - Base metal automatic door closers
Prodcom 25721480 - Base metal hat-racks, hat-pegs, brackets, coat racks, towel racks, dish-cloth racks, brush racks and key racks (excluding coat-racks having the character of furniture)

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024