Portugal: Lock And Key Market 2025

Lock And Key Market Size in Portugal

After two years of decline, the Portuguese lock and key market increased by 18% to $X in 2021. In general, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in the immediate term.

Lock And Key Production in Portugal

In value terms, lock and key production shrank slightly to $X in 2021 estimated in export price. Overall, production saw a mild descent. The most prominent rate of growth was recorded in 2013 with an increase of 14% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Lock And Key Exports

Exports from Portugal

In 2021, shipments abroad of padlocks, locks and keys of base metal increased by 3.9% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 when exports increased by 9.9%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, lock and key exports expanded markedly to $X in 2021. The total export value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2017 with an increase of 19%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Spain (X tons), Germany (X tons) and France (X tons) were the main destinations of lock and key exports from Portugal, together comprising 57% of total exports. These countries were followed by Belgium, the Netherlands, Sweden, the UK, Angola, Italy, the United States and Cabo Verde, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +13.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and France ($X) were the largest markets for lock and key exported from Portugal worldwide, together comprising 54% of total exports. These countries were followed by Belgium, Sweden, the UK, the United States, the Netherlands, Italy, Angola and Cabo Verde, which together accounted for a further 31%.

Sweden, with a CAGR of +15.4%, 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

The average lock and key export price stood at $X per ton in 2021, surging by 6.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 8.3% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 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 Sweden ($X per ton), while the average price for exports to Cabo Verde ($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 Italy (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Portugal

Lock and key imports into Portugal surged to X tons in 2021, increasing by 23% compared with the previous year's figure. Overall, imports saw a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 26% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, lock and key imports surged to $X in 2021. In general, imports saw buoyant growth. The growth pace was the most rapid in 2018 when imports increased by 42%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Spain (X tons) constituted the largest lock and key supplier to Portugal, accounting for a 53% share of total imports. Moreover, lock and key imports from Spain exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.2% per year) and Germany (+11.0% per year).

In value terms, Spain ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Portugal, comprising 44% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by China, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.9% per year) and China (+19.8% per year).

Import Prices by Country

In 2021, the average lock and key import price amounted to $X per ton, almost unchanged from the previous year. In general, the import price recorded a slight reduction. The most prominent rate of growth was recorded in 2018 an increase of 17% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 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 Germany ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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