Finland: Lock And Key Market 2025

Lock And Key Market Size in Finland

In 2021, after two years of decline, there was significant growth in the Finnish lock and key market, when its value increased by 29% to $X. The market value increased at an average annual rate of +3.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Lock And Key Production in Finland

In value terms, lock and key production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a mild setback. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Lock And Key Exports

Exports from Finland

Lock and key exports from Finland rose notably to X tons in 2021, surging by 11% on the previous year's figure. The total export volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lock and key exports skyrocketed to $X in 2021. Overall, total exports indicated strong growth 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, exports increased by +71.4% against 2014 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Estonia (X tons), Sweden (X tons) and the United States (X tons) were the main destinations of lock and key exports from Finland, with a combined 50% share of total exports. These countries were followed by Germany, Russia, Poland, the UK, the Netherlands, Australia, Norway, Latvia, France and Canada, which together accounted for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +12.3%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Finland, comprising 25% of total exports. The second position in the ranking was taken by Germany ($X), with a 9.2% share of total exports. It was followed by France, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to Sweden stood at +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+13.4% per year) and France (+13.5% per year).

Export Prices by Country

The average lock and key export price stood at $X per ton in 2021, rising by 18% against the previous year. In general, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lock and key export price increased by +40.9% against 2014 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 France ($X per ton), while the average price for exports to Estonia ($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 Sweden (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Finland

In 2021, approx. X tons of padlocks, locks and keys of base metal were imported into Finland; growing by 16% compared with 2020 figures. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. 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 resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Austria (X tons) and Germany (X tons) were the main suppliers of lock and key imports to Finland, together comprising 60% of total imports. These countries were followed by Sweden, Denmark, Poland, Italy, Estonia, the Netherlands and Lithuania, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +52.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Sweden ($X) were the largest lock and key suppliers to Finland, with a combined 49% share of total imports. These countries were followed by Austria, Poland, Denmark, Italy, the Netherlands, Estonia and Lithuania, which together accounted for a further 25%.

Lithuania, with a CAGR of +51.5%, recorded the highest rates of growth with regard to 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, with an increase of 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 the Netherlands ($X per ton), while the price for Lithuania ($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 Netherlands (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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