Estonia: Metal Furniture Lock Market 2024

Metal Furniture Lock Market Size in Estonia

The Estonian metal furniture lock market shrank remarkably to $X in 2022, with a decrease of X% against the previous year. Overall, consumption saw a relatively flat trend pattern. Metal furniture lock consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Metal Furniture Lock Production in Estonia

In value terms, metal furniture lock production rose to $X in 2022 estimated in export price. In general, production enjoyed temperate growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Metal furniture lock production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Metal Furniture Lock Exports

Exports from Estonia

In 2022, after three years of growth, there was significant decline in overseas shipments of base metal furniture locks, when their volume decreased by X% to X tons. Overall, exports, however, posted a significant expansion. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted significantly in the following year.

In value terms, metal furniture lock exports contracted remarkably to $X in 2022. In general, exports, however, recorded a temperate increase. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Finland (X tons) was the main destination for metal furniture lock exports from Estonia, accounting for a X% share of total exports. It was followed by Russia (X kg), with a X% share of total exports. Lithuania (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Lithuania (X% per year).

In value terms, Finland ($X) emerged as the key foreign market for base metal furniture locks exports from Estonia, comprising X% of total exports. The second position in the ranking was held by Russia ($X), with a X% share of total exports. It was followed by Lithuania, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Finland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Lithuania (X% per year).

Export Prices by Country

The average metal furniture lock export price stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price faced a abrupt decrease. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Finland ($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 Russia (X%), while the prices for the other major destinations experienced a decline.

Metal Furniture Lock Imports

Imports into Estonia

In 2022, the amount of base metal furniture locks imported into Estonia contracted markedly to X tons, declining by X% on 2021. Over the period under review, imports, however, recorded buoyant growth. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2021, and then fell sharply in the following year.

In value terms, metal furniture lock imports fell notably to $X in 2022. Overall, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Lithuania (X tons) and Sweden (X tons) were the main suppliers of metal furniture lock imports to Estonia, with a combined X% share of total imports. Finland, China, Latvia, Spain and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Latvia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal furniture lock suppliers to Estonia were Germany ($X), Sweden ($X) and Lithuania ($X), with a combined X% share of total imports. Finland, Latvia, the Netherlands, China and Spain lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Latvia, with a CAGR of X%, saw 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

In 2022, the average metal furniture lock import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, recorded a deep reduction. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform