Turkey: Lock And Key Market 2025

Lock And Key Market Size in Turkey

The Turkish lock and key market shrank to $X in 2021, waning by -7.9% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Lock And Key Production in Turkey

In value terms, lock and key production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 14%. Lock and key production peaked at $X in 2020, and then fell in the following year.

Lock And Key Exports

Exports from Turkey

For the sixth consecutive year, Turkey recorded growth in overseas shipments of padlocks, locks and keys of base metal, which increased by 10% to X tons in 2021. In general, total exports indicated a resilient expansion from 2012 to 2021: its volume 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, exports increased by +47.2% against 2014 indices. The growth pace was the most rapid in 2014 with an increase of 13%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, lock and key exports soared to $X in 2021. The total export value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons), Romania (X tons) and Germany (X tons) were the main destinations of lock and key exports from Turkey, with a combined 27% share of total exports. These countries were followed by Iraq, Egypt, the United States, Poland, Iran, Spain, Bulgaria, Ukraine, Algeria and Azerbaijan, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +38.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Germany ($X) and Romania ($X) were the largest markets for lock and key exported from Turkey worldwide, with a combined 25% share of total exports. These countries were followed by the United States, Iraq, Spain, Poland, Egypt, Iran, Bulgaria, Algeria, Ukraine and Azerbaijan, which together accounted for a further 33%.

The United States, with a CAGR of +34.6%, recorded the highest growth rate of the value of exports, among 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

In 2021, the average lock and key export price amounted to $X per ton, surging by 9.7% against the previous year. Overall, the export price, however, showed a mild setback. 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 failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Azerbaijan ($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 Germany (+1.0%), while the prices for the other major destinations experienced mixed trend patterns.

Lock And Key Imports

Imports into Turkey

In 2021, supplies from abroad of padlocks, locks and keys of base metal increased by 21% to X tons, rising for the second consecutive year after two years of decline. In general, imports recorded a relatively flat trend pattern. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, lock and key imports surged to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and Austria (X tons) were the main suppliers of lock and key imports to Turkey, together accounting for 60% of total imports. These countries were followed by Italy, the Czech Republic, Spain, Poland, South Korea, India, France and Taiwan (Chinese), which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +24.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lock and key suppliers to Turkey were Germany ($X), China ($X) and Italy ($X), together comprising 48% of total imports. The Czech Republic, Austria, Spain, Poland, India, South Korea, France and Taiwan (Chinese) lagged somewhat behind, together comprising a further 33%.

Among the main suppliers, Poland, with a CAGR of +24.7%, recorded the highest growth rate of 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 average lock and key import price stood at $X per ton in 2021, remaining stable against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 6.1% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by France (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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