Market research

Padlocks, locks and keys market in Spain

Release date: Mar 30, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The market for base metal padlocks, locks, and keys in Spain saw its total size decline from 464.8 million USD in 2018 to 364.6 million USD in 2020. Domestic production fell from 544.2 million USD to 464.0 million USD over the same period, with imports and exports also dropping in 2020.

After 2020, imports recovered to 316.7 million USD in 2021 before dipping in 2022. A significant surge to 360.1 million USD occurred in 2023, coinciding with severe labor shortages in the metal sector that required 60,000 skilled workers and legislative changes increasing minimum wages, which constrained domestic production and boosted import demand. Exports rose to 420.6 million USD that year. In 2024, both imports and exports declined to 344.3 million USD and 408.0 million USD respectively, reflecting industry reports of stagnating manufacturing demand for basic metals, falling industrial metal prices due to global economic slowdown and low Chinese demand, and a sharp 27.49% drop in metallurgy employment in early 2024 that reduced production capacity.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators
1. 4.1. In value
  1. 4.1.1. Production, 2018-2020
  2. 4.1.2. Imports, 2018-2024
  3. 4.1.3. Exports, 2018-2024
  4. 4.1.4. Market size, 2018-2020
5. Production
1. 5.1. Production in Spain
  1. 5.1.1. In value, 2018-2020, M $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In value, 2018-2024, M $ US
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, t
    1. 6.1.2.1. Annual dynamics of product's exports from Spain in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's exports in kind from Spain by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Spain in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Spain by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Spain, 2018-2024, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's exports from Spain by countries, 2018-2024, $ US/kg
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, t
    1. 6.2.2.1. Annual dynamics of product's exports from Spain in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's exports in kind from Spain by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Spain in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Spain by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Spain, 2018-2024, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's exports from Spain by countries, 2018-2024, $ US/kg
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, t
    1. 7.1.2.1. Annual dynamics of product's imports to Spain in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's imports in kind to Spain by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Spain in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Spain by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Spain, 2018-2024, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's imports to Spain by countries, 2018-2024, $ US/kg
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, t
    1. 7.2.2.1. Annual dynamics of product's imports to Spain in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's imports in kind to Spain by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Spain in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Spain by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Spain, 2018-2024, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's imports to Spain by countries, 2018-2024, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production padlocks, locks and keys in Spain

In value, 2017-2020, M $ US

Spain's production of padlocks, locks, and keys declined for the second year in a row. In 2020, output was valued at 464.0 million US dollars, down 13.1% from the previous year. Production peaked in 2018 at 544.2 million US dollars, which marked the largest annual increase of 14.4%. Over the period from 2017 to 2020, overall production decreased by 2.5%, averaging an annual decline of 0.8%.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	14.4%	(1.9%)	(13.1%)	(0.8%)

Source: SHEV.io

Exports padlocks, locks and keys from Spain

Exports in kind, t

After two years of growth, Spain's export volume of padlocks, locks, and keys fell in 2020. Exports reached 15,670 tonnes, a significant drop of 15.5% compared to 2019. The highest export volume was recorded in 2019 at 18,536 tonnes, which also saw the largest annual increase of 16.7%. From 2017 to 2020, exports grew by 9.2% overall, with a compound annual growth rate of 3.0%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	10.7%	16.7%	(15.5%)	3.0%

Source: SHEV.io

Between 2017 and 2020, Spain exported padlocks, locks, and keys to a wide range of markets. Even the top destinations—Portugal, Germany, and France—combined accounted for only 43.1% of total export volume, highlighting the diversity of Spain's export markets.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Spain in kind, 2017-2020

Source: SHEV.io

Exports in value, M $ US

Spain's exports of padlocks, locks, and keys in value terms declined for the second consecutive year. In 2020, exports amounted to 348.0 million US dollars, a decrease of 5.0% from the previous year. The peak value was reached in 2018 at 380.9 million US dollars, which also recorded the largest annual increase of 15.5%. Over the 2017-2020 period, exports increased by 5.5% overall, averaging an annual growth rate of 1.8%.

Annual dynamics of product's exports from Spain in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	15.5%	(3.8%)	(5.0%)	1.8%

Source: SHEV.io

From 2017 to 2020, Spain's export structure in value terms was highly diversified. The top three markets—Germany (20.3% of export value), France (10.9%), and Portugal (8.2%)—together made up only 39.5% of total exports. The remaining 60.5% came from a wide array of smaller markets.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Spain in value, 2017-2020

Source: SHEV.io

Imports padlocks, locks and keys to Spain

Imports in kind, t

Spain's imports of padlocks, locks, and keys in volume terms dropped sharply in 2020. Imports totaled 22,089 tonnes, a decrease of 32.7% compared to 2019. The highest import volume was in 2019 at 32,827 tonnes, which also saw the largest annual increase of 39.6%. Over the 2017-2020 period, imports decreased by 10.0% overall, with a compound annual decline rate of 3.5%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(4.2%)	39.6%	(32.7%)	(3.5%)

Source: SHEV.io

During 2017-2020, Spain's imports of padlocks, locks, and keys in volume terms were concentrated among a few key suppliers. China (26.9% of import volume), Italy (22.8%), and Czechia (10.6%) together accounted for 60.3% of total imports, forming the core group of source markets.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Spain in kind, 2017-2020

Source: SHEV.io

Imports in value, M $ US

Spain's imports of padlocks, locks, and keys in value terms fell for the second year in a row. In 2020, imports reached 248.7 million US dollars, down 15.0% from the previous year. The peak value was recorded in 2018 at 301.5 million US dollars, which also marked the largest annual increase of 7.2%. From 2017 to 2020, imports decreased by 11.6% overall, averaging an annual decline of 4.0%.

Annual dynamics of product's imports to Spain in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	7.2%	(3.0%)	(15.0%)	(4.0%)

Source: SHEV.io

Between 2017 and 2020, Spain's import structure in value terms showed significant diversification. The top three suppliers—China (20.7% of import value), Czechia (14.4%), and Germany (13.9%)—together represented only 49.0% of total imports. The remaining 51.0% came from numerous smaller markets.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Spain in value, 2017-2020

Source: SHEV.io