Latin America and the Caribbean: Lock And Key Market 2024

Lock And Key Market Size in Latin America and the Caribbean

The Latin American lock and key market dropped to $X in 2023, which is down by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Lock And Key Production in Latin America and the Caribbean

In value terms, lock and key production reduced modestly to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Lock And Key Exports

Exports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded growth in shipments abroad of padlocks, locks and keys of base metal, which increased by X% to X tons in 2023. Total exports indicated measured growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The volume of export peaked in 2023 and is likely to see steady growth in years to come.

In value terms, lock and key exports reached $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico dominates exports structure, finishing at X tons, which was approx. X% of total exports in 2023. Brazil (X tons) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the padlocks, locks and keys of base metal exports, with a CAGR of X% from 2012 to 2023. Brazil (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Mexico increased by X percentage points.

In value terms, Mexico ($X) remains the largest lock and key supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Mexico totaled X%.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Mexico totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%).

Lock And Key Imports

Imports in Latin America and the Caribbean

In 2023, supplies from abroad of padlocks, locks and keys of base metal decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a slight decline. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, lock and key imports dropped modestly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then reduced modestly in the following year.

Imports by Country

Brazil (X tons) and Mexico (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Colombia (X tons), Argentina (X tons), Peru (X tons) and Chile (X tons), together making up a X% share of total imports. Ecuador (X tons), Guatemala (X tons), the Dominican Republic (X tons) and Costa Rica (X tons) took a minor share of total imports.

From 2012 to 2023, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported padlocks, locks and keys of base metal in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

In Mexico, lock and key imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, approximately mirroring the previous year. Import price indicated a resilient expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, lock and key import price increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2018 when the import price increased by X%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Mexico ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform