Padlocks market in Spain

Earlier Report Observations

The Spanish market for base metal padlocks was valued at $26.6 million in 2018, then contracted over the next two years to a low of $18 million in 2020. A recovery began in 2021, lifting the market to $24.8 million, followed by a period of stabilization at $24.7 million in 2022.

Growth resumed in 2023, reaching $28.3 million, and accelerated to $31.9 million in 2024. This recent expansion was fueled by rising consumer interest in smart padlocks with Bluetooth and app-control features, which prompted manufacturers to introduce innovative, higher-value products. Additionally, increased demand from the construction sector, a key consumer of base metal goods, provided further support for market volume.

Production padlocks in Spain

In value, 2017-2020, K $ US

Padlock production in Spain declined for the second consecutive year. In 2020, output was valued at 9 835 thousand US dollars, marking a sharp reduction of 27.6% compared to the previous year. Over the period from 2017 to 2020, production decreased by 28.2%, with a compound annual growth rate of 10.4%. The maximum value was recorded in 2018 at 14 600 thousand US dollars, which also saw the largest increase of 6.6%.

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

Exports padlocks from Spain

Exports in kind, t

In 2020, Spain exported 747 tonnes of padlocks, representing an 11.8% increase compared to the previous year. However, between 2017 and 2020, exports decreased by 40.2%, equating to an annualized rate of 15.8%. The minimum volume was recorded in 2019 at 668 tonnes, while the maximum was in 2018 at 1 253 tonnes. The largest decline occurred in 2019, with a drop of 46.7%.

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

From 2017 to 2020, France, Italy, and Morocco were the main buyers of Spanish padlocks in terms of volume. France accounted for 40.5% of exports, Italy for 15.3%, and Morocco for 7.5%. Together, these three countries comprised 63.3% of total exports in kind.

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

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

Exports in value, K $ US

Spain exported padlocks worth 9 907 thousand US dollars in 2020, up by 30.2% compared to the previous year. Over the period from 2017 to 2020, exports increased by 8.3%, with a compound annual growth rate of 2.7%. The minimum value was recorded in 2019 at 7 607 thousand US dollars, while the maximum was in 2018 at 10 047 thousand US dollars. The largest decline occurred in 2019, with a drop of 24.3%.

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

Throughout 2017 to 2020, France, Italy, and Portugal were the key destinations for Spanish padlock exports in value terms. France accounted for 35.9% of exports, Italy for 11.0%, and Portugal for 7.8%. Together, these three countries took 54.7% of total export flows.

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

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

Imports padlocks to Spain

Imports in kind, t

The volume of padlock imports into Spain declined for the third consecutive year. In 2020, Spain imported 1 799 tonnes of padlocks, representing a 1.5% decrease compared to 2019. Over the period from 2017 to 2020, imports decreased by 32.3%, with a compound annual growth rate of 12.2%.

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

From 2017 to 2020, China dominated Spain's padlock imports in terms of volume, accounting for 84.7% of total imports. The remaining flows were distributed among multiple smaller partners.

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

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

Imports in value, K $ US

Cross-border shipments of padlocks into Spain declined for the second consecutive year. In 2020, imports stood at 18 073 thousand US dollars, indicating a reduction of 2.6% year-over-year. Between 2017 and 2020, imports decreased by 14.5%, equating to an annualized rate of 5.1%. The maximum value was recorded in 2018 at 22 085 thousand US dollars. The largest decline occurred in 2019, with a drop of 16.0%, while the largest increase was in 2018, at 4.5%.

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

Throughout 2017 to 2020, China, Asia not elsewhere specified, and France formed the core of Spain's padlock imports in value terms. China accounted for 69.4% of imports, Asia not elsewhere specified for 8.1%, and France for 6.2%. Together, these three sources comprised 83.7% of total import flows.

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

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