Japan: Lock And Key Market 2025

Lock And Key Market Size in Japan

The Japanese lock and key market expanded modestly to $X in 2021, picking up by 4.3% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Lock And Key Production in Japan

In value terms, lock and key production stood at $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable curtailment. The growth pace was the most rapid in 2015 with an increase of 1.7% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Lock And Key Exports

Exports from Japan

In 2021, after three years of decline, there was significant growth in overseas shipments of padlocks, locks and keys of base metal, when their volume increased by 19% to X tons. Over the period under review, exports, however, showed a slight slump. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, lock and key exports surged to $X in 2021. In general, exports, however, saw a pronounced setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for lock and key exports from Japan, with a 27% share of total exports. Moreover, lock and key exports to the United States exceeded the volume sent to the second major destination, China (X tons), twofold. Mexico (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-6.4% per year) and Mexico (-1.5% per year).

In value terms, the United States ($X), China ($X) and Thailand ($X) constituted the largest markets for lock and key exported from Japan worldwide, together accounting for 48% of total exports. Mexico, Russia, Indonesia, Canada, the UK, the Philippines, Taiwan (Chinese), South Korea, Vietnam and Malaysia lagged somewhat behind, together comprising a further 36%.

In terms of the main countries of destination, Russia, with a CAGR of +12.3%, saw the highest growth rate of the value of exports, 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, with an increase of 3.2% against the previous year. In general, the export price, however, showed a mild decrease. The most prominent rate of growth was recorded in 2016 an increase of 11% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Mexico ($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 Canada (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Japan

In 2021, supplies from abroad of padlocks, locks and keys of base metal was finally on the rise to reach X tons after three years of decline. The total import volume increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2013 when imports increased by 12%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, lock and key imports expanded remarkably to $X in 2021. Overall, imports recorded modest growth. The most prominent rate of growth was recorded in 2014 when imports increased by 12% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of lock and key to Japan, with a 62% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), eightfold. Thailand (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+0.3% per year) and Thailand (+0.9% per year).

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Japan, comprising 57% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 8.9% share of total imports. It was followed by Thailand, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+3.0% per year) and Thailand (-0.8% per year).

Import Prices by Country

In 2021, the average lock and key import price amounted to $X per ton, picking up by 2.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 6%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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