Spectacle Frame Price in China Reduces to $8.3 per Unit, Fluctuating Wildly over 2022

China Spectacle Frame Export Price in September 2022

In September 2022, the spectacle frame price amounted to $8.3 per unit (FOB, China), reducing by -4.6% against the previous month. Over the period from January 2022 to September 2022, it increased at an average monthly rate of +1.3%. The pace of growth appeared the most rapid in March 2022 when the average export price increased by 51% m-o-m. As a result, the export price reached the peak level of $11.0 per unit. From April 2022 to September 2022, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Hong Kong SAR ($22.3 per unit), while the average price for exports to Indonesia ($2.6 per unit) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

China Spectacle Frame Export Prices by Type

Average prices varied somewhat for the major types of exported product. In September 2022, the product with the highest price was non-plastic frames and mountings for spectacles and goggles ($10.1 per unit), while the average price for exports of plastic frames and mountings for spectacles and goggles amounted to $7.2 per unit.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for the following types: spectacle plastic frame (+1.5%).

China Spectacle Frame Exports

In September 2022, overseas shipments of frames and mountings for spectacles, goggles or the like were finally on the rise to reach 20M units for the first time since June 2022, thus ending a two-month declining trend. Overall, exports, however, showed a perceptible downturn. The pace of growth appeared the most rapid in April 2022 when exports increased by 57% month-to-month. Over the period under review, the exports reached the maximum at 28M units in January 2022; however, from February 2022 to September 2022, the exports remained at a lower figure.

In value terms, spectacle frame exports expanded to $168M (IndexBox estimates) in September 2022. Over the period under review, exports, however, continue to indicate a pronounced descent. The pace of growth appeared the most rapid in March 2022 when exports increased by 29% against the previous month. Over the period under review, the exports attained the maximum at 208M units in January 2022; however, from February 2022 to September 2022, the exports failed to regain momentum.

China Spectacle Frame Exports by Type

Plastic frames and mountings for spectacles and goggles (13M units) and non-plastic frames and mountings for spectacles and goggles (7.7M units) were the main products of spectacle frame exports from China.

From January 2022 to September 2022, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by spectacle non-plastic frame (with a CAGR of -3.7%).

In value terms, plastic frames and mountings for spectacles and goggles ($90M) and non-plastic frames and mountings for spectacles and goggles ($78M) appeared to be the most exported types of frames and mountings for spectacles, goggles or the like from China worldwide.

Among the main product categories, spectacle plastic frame, with a CAGR of -2.4%, saw the highest growth rate of the value of exports, over the period under review.

China Spectacle Frame Exports by Country

India (3.4M units), the United States (2.9M units) and Hong Kong SAR (1.4M units) were the main destinations of spectacle frame exports from China, together accounting for 38% of total exports. Italy, Mexico, the Philippines, Japan, Singapore, France, Australia, Indonesia, Thailand and the UK lagged somewhat behind, together comprising a further 36%.

From January 2022 to September 2022, the biggest increases were in Singapore (with a CAGR of +38.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($31M), the United States ($29M) and Italy ($24M) were the largest markets for spectacle frame exported from China worldwide, with a combined 50% share of total exports. These countries were followed by India, Japan, the Philippines, France, the UK, Singapore, Australia, Mexico, Thailand and Indonesia, which together accounted for a further 31%.

Among the main countries of destination, Singapore, with a CAGR of +26.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Factors Affecting Spectacle Frame Prices

There are a number of factors that contribute to the cost of spectacle frames in China. The most significant factor is the materials used to make the frames. For example, titanium is a very popular material for spectacle frames due to its strength and durability. However, it is also one of the more expensive materials. Other popular materials used for spectacle frames include stainless steel, aluminum, and plastic.

Another factor that contributes to the cost of spectacle frames in China is the labor required to make them. Spectacle frames are typically made by hand, which can add to the cost. Additionally, the Chinese market is often flooded with counterfeit products. As a result, many manufacturers of genuine products must charge higher prices to stay in business.

The cost of shipping also plays a role in the final price of spectacle frames in China. Many factories are located in rural areas, so the shipping costs can be significant. Additionally, some manufacturers will add a surcharge for shipping to overseas markets. Finally, the Chinese government imposes a value-added tax on all imported goods, including spectacle frames.

Source: IndexBox Market Intelligence Platform