ASEAN: Spectacle Non-Plastic Frame Market 2024

Spectacle Non-Plastic Frame Market Size in ASEAN

The ASEAN spectacle non-plastic frame market amounted to $X in 2021, almost unchanged from the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Spectacle Non-Plastic Frame Production in ASEAN

In value terms, spectacle non-plastic frame production declined to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a pronounced descent. The growth pace was the most rapid in 2019 with an increase of 34% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Spectacle Non-Plastic Frame Exports

Exports in ASEAN

In 2021, overseas shipments of non-plastic frames and mountings for spectacles and goggles decreased by -13.1% to X units, falling for the fourth year in a row after two years of growth. In general, exports recorded a noticeable descent. The most prominent rate of growth was recorded in 2013 with an increase of 26%. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, spectacle non-plastic frame exports shrank markedly to $X in 2021. Overall, exports recorded a mild contraction. The growth pace was the most rapid in 2014 with an increase of 22%. 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

In 2021, Thailand (X units) represented the main exporter of non-plastic frames and mountings for spectacles and goggles, committing 52% of total exports. The Philippines (X units) ranks second in terms of the total exports with a 22% share, followed by Malaysia (12%) and Singapore (8.9%). Vietnam (X units) held a relatively small share of total exports.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of non-plastic frames and mountings for spectacles and goggles. At the same time, the Philippines (+4.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +4.6% from 2012-2021. By contrast, Malaysia (-7.7%), Singapore (-7.7%) and Vietnam (-15.1%) illustrated a downward trend over the same period. While the share of Thailand (+12 p.p.) and the Philippines (+11 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-5.7 p.p.), Malaysia (-7.4 p.p.) and Vietnam (-8.5 p.p.) displayed negative dynamics.

In value terms, the largest spectacle non-plastic frame supplying countries in ASEAN were the Philippines ($X), Thailand ($X) and Singapore ($X), with a combined 89% share of total exports.

Among the main exporting countries, Thailand, with a CAGR of +1.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, shrinking by -11.9% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2018 when the export price increased by 43%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+9.4%), while the other leaders experienced more modest paces of growth.

Spectacle Non-Plastic Frame Imports

Imports in ASEAN

In 2021, purchases abroad of non-plastic frames and mountings for spectacles and goggles decreased by -6.4% to X units, falling for the second consecutive year after two years of growth. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 24% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, spectacle non-plastic frame imports rose slightly to $X in 2021. Over the period under review, imports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2013 when imports increased by 28% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Thailand represented the major importer of non-plastic frames and mountings for spectacles and goggles in ASEAN, with the volume of imports recording X units, which was approx. 50% of total imports in 2021. The Philippines (X units) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (11%) and Singapore (9.4%). Indonesia (X units) and Vietnam (X units) took a minor share of total imports.

Thailand experienced a relatively flat trend pattern with regard to volume of imports of non-plastic frames and mountings for spectacles and goggles. At the same time, the Philippines (+43.2%) and Indonesia (+11.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +43.2% from 2012-2021. Vietnam experienced a relatively flat trend pattern. By contrast, Singapore (-2.1%) and Malaysia (-7.9%) illustrated a downward trend over the same period. The Philippines (+22 p.p.) and Indonesia (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Thailand and Malaysia saw its share reduced by -2.7%, -8.4% and -13% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported non-plastic frames and mountings for spectacles and goggles in ASEAN, comprising 50% of total imports. The second position in the ranking was held by Singapore ($X), with a 16% share of total imports. It was followed by Malaysia, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Thailand was relatively modest. In the other countries, the average annual rates were as follows: Singapore (-5.3% per year) and Malaysia (-7.0% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, rising by 10% against the previous year. Overall, the import price, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2014 when the import price increased by 11% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Vietnam ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform