Middle East: Metal Furniture Lock Market 2024

Metal Furniture Lock Market Size in the Middle East

The Middle Eastern metal furniture lock market rose to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Metal Furniture Lock Production in the Middle East

In value terms, metal furniture lock production dropped to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Metal Furniture Lock Exports

Exports in the Middle East

In 2022, shipments abroad of base metal furniture locks increased by X% to X tons, rising for the third year in a row after four years of decline. In general, exports continue to indicate resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal furniture lock exports soared to $X in 2022. Overall, exports recorded prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Turkey (X tons), committing a X% share of total exports. The following exporters - Bahrain (X tons) and Saudi Arabia (X tons) - together made up X% of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Bahrain (X%), Saudi Arabia (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates and Bahrain increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) emerged as the largest metal furniture lock supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

In the United Arab Emirates, metal furniture lock exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price recorded a abrupt decrease. The pace of growth appeared the most rapid in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Metal Furniture Lock Imports

Imports in the Middle East

In 2022, imports of base metal furniture locks in the Middle East rose sharply to X tons, surging by X% against the previous year's figure. Total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, metal furniture lock imports reached $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) was the largest importer of base metal furniture locks, constituting X% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, followed by Iraq (X tons) and Turkey (X tons). All these countries together took approx. X% share of total imports. The following importers - Yemen (X tons), Iran (X tons) and Oman (X tons) - together made up X% of total imports.

Saudi Arabia was also the fastest-growing in terms of the base metal furniture locks imports, with a CAGR of X% from 2012 to 2022. At the same time, Oman (X%), Yemen (X%) and Iraq (X%) displayed positive paces of growth. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Turkey (X%) and Iran (X%) illustrated a downward trend over the same period. Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total imports, while Iraq, the United Arab Emirates, Turkey and Iran saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported base metal furniture locks in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, flattening at the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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