The padlock market - United Kingdom

A padlock is a type of portable lock intended to provide general protection against theft, vandalism, and burglary. Normally a padlock is used in conjunction with a chain, or to lock doors or shutters by means of metallic rings for anchoring. It consists of a case in which there is a lock mechanism and a metal ring that can be either opened or closed; in some cases the ring is replaced by a pin. The mechanism is controlled by a key or by means of numbered combination wheels. The case of present-day padlocks can be made of iron, brass, steel or stainless steel, or even tempered steel (the latter bear the inscription "hardened"); some models are made with a one-piece case, others in brass that can have the case itself protected by a steel shell. There are many models of padlocks that segment this market, from the locking system, to the degree of security, to the different sizes and materials used to suit any type of use. China is the leading exporter of padlocks; in 2020, it exported 5 times more than the second largest exporter, Mexico. The UK imports a padlock value worth 43 millions dollars, placing the country in the 4th place worldwide.   The padlock market has not escaped technological developments, however, with the emergence of connected padlocks: these padlocks can be unlocked directly via a smartphone (remotely or locally) with Bluetooth or fingerprint operation. However, their use is still secondary and the priority is on mechanical locks. Innovations in this market show that it still remains an interesting market, which prospects new growth in the future.