Southern Asia: Lock And Key Market 2025

Lock And Key Market Size in Southern Asia

In 2021, the South Asian lock and key market was finally on the rise to reach $X after two years of decline. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.6% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Lock And Key Production in Southern Asia

In value terms, lock and key production declined to $X in 2021 estimated in export price. Over the period under review, production, however, showed a strong increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by 26% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then declined in the following year.

Lock And Key Exports

Exports in Southern Asia

In 2021, overseas shipments of padlocks, locks and keys of base metal were finally on the rise to reach X tons after two years of decline. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lock and key exports surged to $X in 2021. Over the period under review, exports posted a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, India (X tons) represented the major exporter of padlocks, locks and keys of base metal in Southern Asia, making up 99% of total export.

India was also the fastest-growing in terms of the padlocks, locks and keys of base metal exports, with a CAGR of +6.2% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest lock and key supplier in Southern Asia.

In India, lock and key exports increased at an average annual rate of +10.8% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, declining by -3.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.2%. The growth pace was the most rapid in 2015 when the export price increased by 16% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +4.3% per year.

Lock And Key Imports

Imports in Southern Asia

Lock and key imports soared to X tons in 2021, with an increase of 62% compared with the previous year. Overall, imports recorded a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lock and key imports soared to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the major importing country with an import of around X tons, which finished at 74% of total imports. Bangladesh (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (7.4%). Sri Lanka (X tons) took a relatively small share of total imports.

Imports into India increased at an average annual rate of +14.0% from 2012 to 2021. At the same time, Bangladesh (+15.8%), Pakistan (+11.4%) and Sri Lanka (+6.5%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +15.8% from 2012-2021. India (+2.9 p.p.) and Bangladesh (+2 p.p.) significantly strengthened its position in terms of the total imports, while Sri Lanka saw its share reduced by -2.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported padlocks, locks and keys of base metal in Southern Asia, comprising 68% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 16% share of total imports. It was followed by Pakistan, with a 6.8% share.

In India, lock and key imports increased at an average annual rate of +7.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bangladesh (+21.4% per year) and Pakistan (+11.4% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, which is down by -10% against the previous year. Over the period under review, the import price showed a pronounced decline. The most prominent rate of growth was recorded in 2017 an increase of 7.1%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Bangladesh ($X per ton) and Sri Lanka ($X per ton), while Pakistan ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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