Report Update Nov 1, 2024

Vietnam - Base Metal Furniture Locks - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Metal Furniture Lock Market 2024

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

Frequently Asked Questions (FAQ) :

What are the largest markets for base metal furniture locks in the world?

China constituted the country with the largest volume of metal furniture lock consumption, accounting for 29% of total volume. Moreover, metal furniture lock consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The United States ranked third in terms of total consumption with a 6.8% share.

What are the largest producers of base metal furniture locks in the world?

China remains the largest metal furniture lock producing country worldwide, accounting for 67% of total volume. Moreover, metal furniture lock production in China exceeded the figures recorded by the second-largest producer, India, eightfold. The third position in this ranking was occupied by the United States, with a 3.8% share.

What are the leading suppliers of base metal furniture locks to Vietnam?

In value terms, China constituted the largest supplier of metal furniture lock to Vietnam, comprising 67% of total imports. The second position in the ranking was occupied by Thailand, with a 14% share of total imports. It was followed by South Korea, with a 7.8% share.

What are the leading importers of base metal furniture locks from Vietnam?

In value terms, the largest markets for metal furniture lock exported from Vietnam were the United States, Cambodia and Australia, with a combined 68% share of total exports.

What is the average export price for base metal furniture locks in Vietnam?

In 2021, the average metal furniture lock export price amounted to $37,159 per ton, shrinking by -6.4% against the previous year.

What is the average import price for base metal furniture locks in Vietnam?

The average metal furniture lock import price stood at $6,999 per ton in 2021, which is down by -5.4% against the previous year.

This report provides an in-depth analysis of the metal furniture lock market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25721170 - Base metal furniture locks

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023