Indonesia: Lock And Key Market 2025

Lock And Key Market Size in Indonesia

In 2021, the Indonesian lock and key market increased by 30% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Lock And Key Exports

Exports from Indonesia

In 2021, lock and key exports from Indonesia soared to X tons, surging by 17% against the previous year's figure. Overall, exports, however, recorded a noticeable decrease. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, lock and key exports skyrocketed to $X in 2021. In general, exports, however, saw a deep downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for lock and key exports from Indonesia, with a 51% share of total exports. Moreover, lock and key exports to Japan exceeded the volume sent to the second major destination, Australia (X tons), sixfold. South Korea (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+11.8% per year) and South Korea (+46.4% per year).

In value terms, Japan ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Indonesia, comprising 46% of total exports. The second position in the ranking was held by South Korea ($X), with an 8.8% share of total exports. It was followed by Thailand, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan amounted to -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+56.1% per year) and Thailand (-19.0% per year).

Export Prices by Country

The average lock and key export price stood at $X per ton in 2021, with an increase of 4.7% against the previous year. In general, the export price, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 19%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Australia ($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 Singapore (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Indonesia

In 2021, supplies from abroad of padlocks, locks and keys of base metal increased by 23% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, lock and key imports surged to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 36%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of lock and key to Indonesia, with a 89% share of total imports. It was followed by Singapore (X tons), with a 2.3% share of total imports. The third position in this ranking was taken by Malaysia (X tons), with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+6.3% per year) and Malaysia (+14.0% per year).

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Indonesia, comprising 74% of total imports. The second position in the ranking was taken by Japan ($X), with a 6.9% share of total imports. It was followed by Thailand, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.0% per year) and Thailand (-12.2% per year).

Import Prices by Country

In 2021, the average lock and key import price amounted to $X per ton, with an increase of 6.4% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lock and key import price decreased by -5.7% against 2018 indices. The growth pace was the most rapid in 2017 when the average import price increased by 38%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, 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 Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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