Spain: Base Metal Padlock Market 2024

Base Metal Padlock Market Size in Spain

The Spanish base metal padlock market shrank to $X in 2022, declining by -9% against the previous year. Overall, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +25.4% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Base Metal Padlock Production in Spain

In value terms, base metal padlock production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.5% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 56% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Base Metal Padlock Exports

Exports from Spain

After two years of growth, overseas shipments of base metal padlocks decreased by -2.7% to X tons in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.5% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 54% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, base metal padlock exports fell to $X in 2022. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 41% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

France (X tons) was the main destination for base metal padlock exports from Spain, accounting for a 46% share of total exports. Moreover, base metal padlock exports to France exceeded the volume sent to the second major destination, Italy (X tons), threefold. The third position in this ranking was held by Portugal (X tons), with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+18.6% per year) and Portugal (+1.8% per year).

In value terms, France ($X) remains the key foreign market for base metal padlocks exports from Spain, comprising 40% of total exports. The second position in the ranking was held by Italy ($X), with a 14% share of total exports. It was followed by Portugal, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value to France stood at +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+17.9% per year) and Portugal (+9.9% per year).

Export Prices by Country

In 2022, the average base metal padlock export price amounted to $X per ton, shrinking by -11.2% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 37%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, 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 the UK ($X per ton), while the average price for exports to Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Padlock Imports

Imports into Spain

After two years of growth, overseas purchases of base metal padlocks decreased by -8.4% to X tons in 2022. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, base metal padlock imports fell to $X in 2022. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +44.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. As a result, imports attained the peak of $X, and then shrank modestly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of base metal padlock to Spain, accounting for a 78% share of total imports. Moreover, base metal padlock imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), eightfold. The Netherlands (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+28.7% per year) and the Netherlands (+40.3% per year).

In value terms, China ($X) constituted the largest supplier of base metal padlocks to Spain, comprising 66% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 12% share of total imports. It was followed by France, with a 7% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+22.7% per year) and France (+10.8% per year).

Import Prices by Country

The average base metal padlock import price stood at $X per ton in 2022, growing by 6.8% against the previous year. In general, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, base metal padlock import price increased by +64.5% against 2016 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 16%. The import price peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+9.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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