GCC: Base Metal Padlock Market 2025

Base Metal Padlock Exports

Exports in GCC

In 2022, overseas shipments of base metal padlocks were finally on the rise to reach X tons for the first time since 2015, thus ending a six-year declining trend. Overall, exports continue to indicate a moderate expansion. The growth pace was the most rapid in 2015 when exports increased by 151%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, base metal padlock exports contracted to $X in 2022. Over the period under review, exports, however, saw a pronounced reduction. The growth pace was the most rapid in 2015 with an increase of 119% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, reaching X tons, which was near 89% of total exports in 2022. It was distantly followed by Oman (X tons), constituting a 5.5% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of +3.0% from 2012 to 2022. At the same time, Oman (+27.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +27.1% from 2012-2022. By contrast, Saudi Arabia (-11.0%) illustrated a downward trend over the same period. Oman (+4.9 p.p.) and the United Arab Emirates (+3.8 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -9.7% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest base metal padlock supplier in GCC, comprising 71% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 13% share of total exports.

In the United Arab Emirates, base metal padlock exports plunged by an average annual rate of -3.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-7.4% per year) and Oman (+26.0% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with a decrease of -55.3% against the previous year. Over the period under review, the export price recorded a deep contraction. The pace of growth appeared the most rapid in 2021 an increase of 50% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell markedly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.0%), while the other leaders experienced a decline in the export price figures.

Base Metal Padlock Imports

Imports in GCC

In 2022, approx. X tons of base metal padlocks were imported in GCC; shrinking by -48.9% compared with the previous year's figure. Over the period under review, imports saw a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 23% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, base metal padlock imports shrank significantly to $X in 2022. Overall, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2021 when imports increased by 51%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X tons, which was near 86% of total imports in 2022. It was distantly followed by Kuwait (X tons), comprising a 5.4% share of total imports. The following importers - Qatar (X tons) and Oman (X tons) - each reached a 7.5% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to base metal padlock imports into the United Arab Emirates stood at -3.5%. Kuwait experienced a relatively flat trend pattern. Qatar (-2.0%) and Oman (-9.4%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+56 p.p.), Kuwait (+4.2 p.p.) and Qatar (+2.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported base metal padlocks in GCC, comprising 80% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 7.3% share of total imports. It was followed by Qatar, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +1.3%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+4.8% per year) and Qatar (-5.0% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, which is down by -6.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2021 when the import price increased by 23% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+10.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform