Southern Asia: Metal Furniture Lock Market 2024

Metal Furniture Lock Market Size in Southern Asia

In 2022, the South Asian metal furniture lock market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, continues to indicate a remarkable increase. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in years to come.

Metal Furniture Lock Production in Southern Asia

In value terms, metal furniture lock production declined to $X in 2022 estimated in export price. Overall, production, however, showed a remarkable increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Metal Furniture Lock Exports

Exports in Southern Asia

After three years of growth, overseas shipments of base metal furniture locks decreased by X% to X tons in 2022. Overall, exports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then reduced in the following year.

In value terms, metal furniture lock exports dropped sharply to $X in 2022. In general, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then declined dramatically in the following year.

Exports by Country

India prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2022. Pakistan (X tons) took a minor share of total exports.

India was also the fastest-growing in terms of the base metal furniture locks exports, with a CAGR of X% from 2012 to 2022. At the same time, Pakistan (X%) displayed positive paces of growth. Pakistan (X p.p.) significantly weakened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest metal furniture lock supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was held by Pakistan ($X), with a X% share of total exports.

In India, metal furniture lock exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, dropping by X% against the previous year. Export price indicated a noticeable increase from 2012 to 2022: its price 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, metal furniture lock export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while India totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%).

Metal Furniture Lock Imports

Imports in Southern Asia

In 2022, metal furniture lock imports in Southern Asia fell slightly to X tons, with a decrease of X% against the previous year's figure. Over the period under review, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, metal furniture lock imports stood at $X in 2022. Total imports indicated a resilient 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 increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2022, India (X tons) represented the largest importer of base metal furniture locks, comprising X% of total imports. Bangladesh (X tons) ranks second in terms of the total imports with a X% share, followed by Pakistan (X%). Sri Lanka (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Bangladesh ($X) and Pakistan ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Bangladesh, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 Southern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price 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, metal furniture lock import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of X%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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