Vietnam: Base Metal Padlock Market 2025

Base Metal Padlock Market Size in Vietnam

The Vietnamese base metal padlock market shrank to $X in 2022, reducing by -13.4% 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). Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Base Metal Padlock Exports

Exports from Vietnam

In 2022, exports of base metal padlocks from Vietnam totaled X tons, picking up by 12% compared with the previous year's figure. Overall, exports, however, continue to indicate a mild decrease. The pace of growth was the most pronounced in 2015 when exports increased by 1,601% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, base metal padlock exports contracted to $X in 2022. In general, exports recorded a perceptible increase. The most prominent rate of growth was recorded in 2015 with an increase of 1,468% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Cambodia (X tons) and Lao People's Democratic Republic (X kg) were the main destinations of base metal padlock exports from Vietnam, with a combined 95% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +86.3%), while the other leaders experienced a decline.

In value terms, the United States ($X) remains the key foreign market for base metal padlocks exports from Vietnam, comprising 82% of total exports. The second position in the ranking was taken by Cambodia ($X), with a 4% share of total exports. It was followed by Lao People's Democratic Republic, with a 0.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +63.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-18.4% per year) and Lao People's Democratic Republic (-28.6% per year).

Export Prices by Country

In 2022, the average base metal padlock export price amounted to $X per ton, waning by -14.7% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% 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 export price increased by +4.2% against 2020 indices. The pace of growth appeared the most rapid in 2018 an increase of 25% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Cambodia ($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 Russia (+5.4%), while the prices for the other major destinations experienced a decline.

Base Metal Padlock Imports

Imports into Vietnam

In 2022, base metal padlock imports into Vietnam shrank to X tons, declining by -13.3% against the year before. Overall, imports recorded a noticeable slump. The growth pace was the most rapid in 2015 when imports increased by 734% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, base metal padlock imports fell to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 402%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of base metal padlock to Vietnam, with a 67% share of total imports. Moreover, base metal padlock imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sevenfold. The third position in this ranking was held by Germany (X tons), with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.4% per year) and Germany (+29.6% per year).

In value terms, China ($X) constituted the largest supplier of base metal padlocks to Vietnam, comprising 67% of total imports. The second position in the ranking was held by Japan ($X), with a 9.4% share of total imports. It was followed by Germany, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.4% per year) and Germany (+33.3% per year).

Import Prices by Country

In 2022, the average base metal padlock import price amounted to $X per ton, picking up by 2.9% against the previous year. In general, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.5% 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 decreased by -3.9% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 67% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and China ($X per ton), while the price for Mexico ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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