Report Update Mar 1, 2025

Nigeria - Base Metal Padlocks - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Base Metal Padlock Market 2025

Base Metal Padlock Market Size in Nigeria

The Nigerien base metal padlock market expanded to $X in 2022, growing by 4.7% 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). In general, consumption, however, showed a deep contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Base Metal Padlock Exports

Exports from Nigeria

After four years of growth, shipments abroad of base metal padlocks decreased by -34.9% to X tons in 2022. Overall, exports, however, recorded slight growth. The pace of growth appeared the most rapid in 2019 with an increase of 210% against the previous year. The exports peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, base metal padlock exports shrank markedly to $X in 2022. Over the period under review, exports, however, recorded a measured expansion. The growth pace was the most rapid in 2016 when exports increased by 205% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Niger (X tons), Burkina Faso (X tons) and Benin (X tons) were the main destinations of base metal padlock exports from Nigeria, with a combined 86% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +50.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Benin ($X) and Niger ($X) constituted the largest markets for base metal padlock exported from Nigeria worldwide, with a combined 78% share of total exports. Burkina Faso and Cameroon lagged somewhat behind, together comprising a further 19%.

In terms of the main countries of destination, Burkina Faso, with a CAGR of +58.1%, recorded the highest rates of growth with regard to 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

The average base metal padlock export price stood at $X per ton in 2022, growing by 11% against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, base metal padlock export price increased by +72.3% against 2020 indices. The pace of growth was the most pronounced in 2016 an increase of 67% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, 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 Cote d'Ivoire ($X per ton), while the average price for exports to Cameroon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+278.4%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Padlock Imports

Imports into Nigeria

In 2022, base metal padlock imports into Nigeria rose significantly to X tons, picking up by 10% against the previous year's figure. Overall, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 81%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, base metal padlock imports shrank to $X in 2022. Over the period under review, imports, however, showed a deep contraction. The pace of growth was the most pronounced in 2020 when imports increased by 133%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of base metal padlock to Nigeria, with a approx. 98% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -15.4%.

In value terms, China ($X) constituted the largest supplier of base metal padlocks to Nigeria.

From 2012 to 2022, the average annual growth rate of value from China totaled -4.9%.

Import Prices by Country

The average base metal padlock import price stood at $X per ton in 2022, with a decrease of -16.6% against the previous year. In general, the import price, however, saw strong growth. The growth pace was the most rapid in 2020 an increase of 70% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +12.3% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for base metal padlocks in the world?

The country with the largest volume of base metal padlock consumption was China, accounting for 17% of total volume. Moreover, base metal padlock consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by Mexico, with a 5.6% share.

What are the largest producers of base metal padlocks in the world?

The country with the largest volume of base metal padlock production was China, accounting for 79% of total volume. Moreover, base metal padlock production in China exceeded the figures recorded by the second-largest producer, India, more than tenfold. Brazil ranked third in terms of total production with a 2.3% share.

What are the leading suppliers of base metal padlocks to Nigeria?

In value terms, China constituted the largest supplier of base metal padlock to Nigeria, comprising 89% of total imports. The second position in the ranking was occupied by India, with a 2.4% share of total imports.

What are the leading importers of base metal padlocks from Nigeria?

In value terms, Benin remains the key foreign market for base metal padlock exports from Nigeria, comprising 79% of total exports. The second position in the ranking was occupied by Burkina Faso $792), with a 5.9% share of total exports. It was followed by Niger, with a 3.6% share.

What is the average export price for base metal padlocks in Nigeria?

In 2021, the average base metal padlock export price amounted to $1,732 per ton, with a decrease of -16.5% against the previous year.

What is the average import price for base metal padlocks in Nigeria?

The average base metal padlock import price stood at $459 per ton in 2021, which is down by -24.1% against the previous year.

This report provides an in-depth analysis of the base metal padlock market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25721130 - Base metal padlocks

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024