Oman: Lock And Key Market 2025

Lock And Key Market Size in Oman

The Omani lock and key market reduced to $X in 2021, which is down by -5.2% 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). Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -22.6% against 2017 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Lock And Key Exports

Exports from Oman

In 2021, shipments abroad of padlocks, locks and keys of base metal decreased by -52.1% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by 93%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, lock and key exports reduced sharply to $X in 2021. Overall, exports saw a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 99%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Somalia (X tons), Yemen (X tons) and Egypt (X tons) were the main destinations of lock and key exports from Oman, together comprising 62% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Egypt (with a CAGR of +86.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for padlocks, locks and keys of base metal exports from Oman, comprising 42% of total exports. The second position in the ranking was taken by Yemen ($X), with a 12% share of total exports. It was followed by Somalia, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at +16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+7.9% per year) and Somalia (+34.4% per year).

Export Prices by Country

The average lock and key export price stood at $X per ton in 2021, jumping by 46% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lock and key export price increased by +75.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 160% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Egypt ($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 Bolivia (+58.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Oman

Lock and key imports into Oman fell markedly to X tons in 2021, waning by -15.4% on the previous year. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +8.0% 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 -24.8% against 2017 indices. The pace of growth was the most pronounced in 2014 when imports increased by 52%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, lock and key imports declined slightly to $X in 2021. Overall, total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by +0.4% against 2019 indices. The pace of growth was the most pronounced in 2014 when imports increased by 65%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and Turkey (X tons) were the main suppliers of lock and key imports to Oman, together comprising 89% of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +24.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Oman, comprising 57% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by Turkey, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates amounted to +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.5% per year) and Turkey (+13.2% per year).

Import Prices by Country

The average lock and key import price stood at $X per ton in 2021, growing by 15% against the previous year. Overall, the import price, however, continues to indicate a perceptible setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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