South-Eastern Asia: Lock And Key Market 2025

Lock And Key Market Size in South-Eastern Asia

In 2021, after two years of decline, there was significant growth in the Southeast Asian lock and key market, when its value increased by 14% to $X. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Lock And Key Production in South-Eastern Asia

In value terms, lock and key production expanded rapidly to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 22% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Lock And Key Exports

Exports in South-Eastern Asia

In 2021, approx. X tons of padlocks, locks and keys of base metal were exported in South-Eastern Asia; jumping by 20% on the previous year. The total export volume increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 23%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, lock and key exports surged to $X in 2021. The total export value increased at an average annual rate of +5.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons) and Thailand (X tons) represented roughly 68% of total exports in 2021. Malaysia (X tons) held the next position in the ranking, followed by Singapore (X tons), the Philippines (X tons) and Indonesia (X tons). All these countries together held near 31% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +25.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest lock and key supplying countries in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Singapore ($X), with a combined 79% share of total exports.

Vietnam, with a CAGR of +26.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, surging by 3.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2018 an increase of 9.4%. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.4%), while the other leaders experienced more modest paces of growth.

Lock And Key Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of padlocks, locks and keys of base metal increased by 18% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lock and key imports skyrocketed to $X in 2021. Total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.3% 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 increased by +81.6% against 2014 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of lock and key imports in 2021 were Indonesia (X tons), Vietnam (X tons), Thailand (X tons) and Malaysia (X tons), together resulting at 83% of total import. Singapore (X tons) held a 5.9% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (4.6%). Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +32.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 66% share of total imports. Singapore, Malaysia, the Philippines and Cambodia lagged somewhat behind, together comprising a further 31%.

In terms of the main importing countries, Cambodia, with a CAGR of +30.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, growing by 7.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2018 when the import price increased by 18%. The level of import peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while Indonesia ($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 Philippines (+20.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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