Vietnam: Metal Furniture Lock Market 2025

Metal Furniture Lock Market Size in Vietnam

The Vietnamese metal furniture lock market skyrocketed to $X in 2022, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed strong growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Metal Furniture Lock Exports

Exports from Vietnam

After two years of decline, shipments abroad of base metal furniture locks increased by X% to X tons in 2022. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal furniture lock exports soared to $X in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Myanmar (X tons) was the main destination for metal furniture lock exports from Vietnam, with a X% share of total exports. Moreover, metal furniture lock exports to Myanmar exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar stood at X%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for base metal furniture locks exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at X%.

Export Prices by Country

In 2022, the average metal furniture lock export price amounted to $X per ton, which is down by X% against the previous year. Overall, the export price, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. The export price peaked at $X per ton in 2021, and then declined notably in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Myanmar totaled $X per ton.

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

Metal Furniture Lock Imports

Imports into Vietnam

In 2022, metal furniture lock imports into Vietnam surged to X tons, with an increase of X% against 2021. Overall, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal furniture lock imports soared to $X in 2022. In general, imports continue to indicate a moderate expansion. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main metal furniture lock supplier to Vietnam, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%.

In value terms, China ($X) constituted the largest supplier of base metal furniture locks to Vietnam.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%.

Import Prices by Country

The average metal furniture lock import price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price saw a perceptible decline. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to X% per year.

Source: IndexBox Platform

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