Malaysia: Lock And Key Market 2025

Lock And Key Market Size in Malaysia

The Malaysian lock and key market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption posted a buoyant increase. Lock and key consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Lock And Key Exports

Exports from Malaysia

After four years of growth, shipments abroad of padlocks, locks and keys of base metal decreased by -20.1% to X tons in 2021. Overall, exports saw a noticeable downturn. The most prominent rate of growth was recorded in 2013 with an increase of 34% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, lock and key exports totaled $X in 2021. In general, total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.3% 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 +65.5% against 2016 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 25%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Japan (X tons) was the main destination for lock and key exports from Malaysia, accounting for a 23% share of total exports. Moreover, lock and key exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), twofold. Singapore (X tons) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume to Japan stood at -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+17.8% per year) and Singapore (+0.5% per year).

In value terms, the largest markets for lock and key exported from Malaysia were Singapore ($X), the United States ($X) and Japan ($X), together accounting for 42% of total exports.

The United States, with a CAGR of +25.0%, recorded the highest rates of growth with regard to the value of exports, in terms of 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, rising by 40% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Egypt ($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 (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Malaysia

In 2021, purchases abroad of padlocks, locks and keys of base metal was finally on the rise to reach X tons after two years of decline. Overall, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -21.1% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 34% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, lock and key imports soared to $X in 2021. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 28% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest lock and key supplier to Malaysia, accounting for a 77% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The third position in this ranking was held by Vietnam (X tons), with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-5.7% per year) and Vietnam (+33.3% per year).

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Malaysia, comprising 54% of total imports. The second position in the ranking was taken by Thailand ($X), with a 9.7% share of total imports. It was followed by the United States, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-4.4% per year) and the United States (+8.6% per year).

Import Prices by Country

The average lock and key import price stood at $X per ton in 2021, increasing by 13% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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 United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :