ASEAN: Binocular Market 2025

Binocular Market Size in ASEAN

In 2021, the ASEAN binocular market was finally on the rise to reach $X after two years of decline. Overall, consumption recorded a resilient expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Binocular Production in ASEAN

In value terms, binocular production totaled $X in 2021 estimated in export price. Over the period under review, production, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 93%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Binocular Exports

Exports in ASEAN

In 2021, overseas shipments of binoculars decreased by -19.9% to X units for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 97%. The volume of export peaked at X units in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, binocular exports surged to $X in 2021. Over the period under review, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 126%. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines dominates exports structure, amounting to X units, which was approx. 86% of total exports in 2021. It was distantly followed by Myanmar (X units), making up a 5.8% share of total exports. Singapore (X units) and Thailand (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to binocular exports from the Philippines stood at +23.9%. At the same time, Myanmar (+100.6%) and Thailand (+47.6%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +100.6% from 2012-2021. By contrast, Singapore (-20.5%) illustrated a downward trend over the same period. The Philippines (+61 p.p.), Myanmar (+5.8 p.p.) and Thailand (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -63.6% from 2012 to 2021, respectively.

In value terms, the Philippines ($X) remains the largest binocular supplier in ASEAN, comprising 74% of total exports. The second position in the ranking was taken by Singapore ($X), with a 20% share of total exports. It was followed by Thailand, with a 3% share.

In the Philippines, binocular exports increased at an average annual rate of +27.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-2.6% per year) and Thailand (+21.4% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, jumping by 98% against the previous year. Export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+35.9%), while the other leaders experienced more modest paces of growth.

Binocular Imports

Imports in ASEAN

In 2021, binocular imports in ASEAN reached X units, picking up by 14% on the previous year. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 194%. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, binocular imports soared to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 167%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X units) was the largest importer of binoculars, mixing up 69% of total imports. Thailand (X units) ranks second in terms of the total imports with an 18% share, followed by the Philippines (5%). Malaysia (X units), Vietnam (X units) and Singapore (X units) held a minor share of total imports.

Indonesia was also the fastest-growing in terms of the binoculars imports, with a CAGR of +31.6% from 2012 to 2021. At the same time, the Philippines (+28.0%), Malaysia (+14.1%) and Vietnam (+3.1%) displayed positive paces of growth. By contrast, Thailand (-13.5%) and Singapore (-24.0%) illustrated a downward trend over the same period. Indonesia (+63 p.p.), the Philippines (+4.5 p.p.) and Malaysia (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Singapore and Thailand saw its share reduced by -21.9% and -46.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported binoculars in ASEAN, comprising 64% of total imports. The second position in the ranking was held by Thailand ($X), with a 14% share of total imports. It was followed by Malaysia, with an 8.6% share.

In Indonesia, binocular imports expanded at an average annual rate of +38.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (-7.3% per year) and Malaysia (+6.3% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, growing by 31% against the previous year. Overall, the import price showed a modest increase. The most prominent rate of growth was recorded in 2016 when the import price increased by 115%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform