Report Dominican Republic - Padlocks, Locks and Keys of Base Metal - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

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

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Dominican Republic: Lock And Key Market 2024

Lock And Key Market Size in the Dominican Republic

In 2021, the Dominican lock and key market increased by 39% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +52.4% against 2019 indices. Lock and key consumption peaked in 2021 and is expected to retain growth in the near future.

Lock And Key Exports

Exports from the Dominican Republic

In 2021, the amount of padlocks, locks and keys of base metal exported from the Dominican Republic amounted to X tons, with an increase of 12% compared with the year before. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 933% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, lock and key exports rose significantly to $X in 2021. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 1,272%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for lock and key exports from the Dominican Republic, accounting for a 94% share of total exports. It was followed by Canada (X tons), with a 2.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +57.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+10.5% per year) and Jamaica (-11.0% per year).

In value terms, the United States ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from the Dominican Republic, comprising 98% of total exports. The second position in the ranking was held by Canada ($X), with a 0.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +69.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+12.8% per year) and Jamaica (-6.6% per year).

Export Prices by Country

In 2021, the average lock and key export price amounted to $X per ton, leveling off at the previous year. Overall, the export price, however, saw prominent growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 76% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Jamaica ($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 the United States (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into the Dominican Republic

In 2021, lock and key imports into the Dominican Republic skyrocketed to X tons, jumping by 41% on the previous year. In general, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +9.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +48.4% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lock and key imports skyrocketed to $X in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.5% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest lock and key supplier to the Dominican Republic, accounting for a 78% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.8% per year) and Spain (-1.5% per year).

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to the Dominican Republic, comprising 65% of total imports. The second position in the ranking was taken by the United States ($X), with a 9.8% share of total imports. It was followed by Spain, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.5% per year) and Spain (+0.6% per year).

Import Prices by Country

The average lock and key import price stood at $X per ton in 2021, shrinking by -5.7% against the previous year. In general, the import price saw a slight downturn. The growth pace was the most rapid in 2016 an increase of 18% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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 Spain ($X per ton), while the price for China ($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 (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of lock and key consumption in 2020 were China, the United States and Germany, together comprising 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%.
China remains the largest lock and key producing country worldwide, accounting for 58% of total volume. Moreover, lock and key production in China exceeded the figures recorded by the second-largest producer, Germany, ninefold. Turkey ranked third in terms of total production with a 4.3% share.
In value terms, China constituted the largest supplier of lock and key to the Dominican Republic, comprising 61% of total imports. The second position in the ranking was occupied by the United States, with a 14% share of total imports. It was followed by Spain, with an 8% share.
In value terms, the United States remains the key foreign market for lock and key exports from the Dominican Republic, comprising 100% of total exports. The second position in the ranking was occupied by Haiti, with a 0.2% share of total exports.
In 2020, the average lock and key export price amounted to $52,666 per ton, increasing by 4.3% against the previous year.
The average lock and key import price stood at $6,620 per ton in 2020, picking up by 20% against the previous year.

This report provides an in-depth analysis of the lock and key market in the Dominican Republic. 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:

  • Dominican Republic

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the Dominican Republic
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    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, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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