Iran: Lock And Key Market 2025

Lock And Key Market Size in Iran

The Iranian lock and key market fell to $X in 2021, which is down by -4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a abrupt contraction. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Lock And Key Exports

Exports from Iran

For the third year in a row, Iran recorded decline in shipments abroad of padlocks, locks and keys of base metal, which decreased by -55.4% to X tons in 2021. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 521%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, lock and key exports contracted remarkably to $X in 2021. Overall, exports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 419%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Azerbaijan (X tons), the United Arab Emirates (X tons) and Armenia (X tons) were the main destinations of lock and key exports from Iran, with a combined 57% share of total exports. These countries were followed by Oman, Turkey, Qatar, Georgia, Uzbekistan, the Czech Republic, the Netherlands, Tajikistan and Kyrgyzstan, which together accounted for a further 38%.

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 +170.1%), while the other leaders experienced more modest paces of growth.

In value terms, Armenia ($X), Azerbaijan ($X) and the Czech Republic ($X) constituted the largest markets for lock and key exported from Iran worldwide, with a combined 50% share of total exports.

Azerbaijan, with a CAGR of +142.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lock and key export price amounted to $X per ton, growing by 10% against the previous year. Overall, the export price, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of 31%. The export price peaked 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 the Netherlands ($X per ton), while the average price for exports to the United Arab Emirates ($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 Azerbaijan (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Iran

For the fourth year in a row, Iran recorded decline in overseas purchases of padlocks, locks and keys of base metal, which decreased by -10.5% to X tons in 2021. In general, imports continue to indicate a deep downturn. The growth pace was the most rapid in 2013 with an increase of 48%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, lock and key imports declined to $X in 2021. Over the period under review, imports saw a deep setback. The pace of growth was the most pronounced in 2013 with an increase of 77%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Turkey (X tons) and the United Arab Emirates (X tons) were the main suppliers of lock and key imports to Iran, together comprising 98% of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of -1.5%), while purchases for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Iran, comprising 64% of total imports. The second position in the ranking was held by Turkey ($X), with a 29% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-4.5% per year) and the United Arab Emirates (-27.7% per year).

Import Prices by Country

In 2021, the average lock and key import price amounted to $X per ton, growing by 6% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 19% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Turkey ($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 United Arab Emirates (+7.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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