ASEAN: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in ASEAN

The ASEAN spectacle plastic frame market was finally on the rise to reach $X in 2021, after three years of decline. The total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -27.1% against 2017 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Spectacle Plastic Frame Production in ASEAN

In value terms, spectacle plastic frame production soared to $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -26.3% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 27%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Spectacle Plastic Frame Exports

Exports in ASEAN

In 2021, the amount of plastic frames and mountings for spectacles and goggles exported in ASEAN skyrocketed to X units, growing by 72% against 2020 figures. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 158% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, spectacle plastic frame exports skyrocketed to $X in 2021. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 245% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand was the largest exporting country with an export of around X units, which recorded 67% of total exports. The Philippines (X units) held a 24% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (7%).

From 2012 to 2021, average annual rates of growth with regard to spectacle plastic frame exports from Thailand stood at +30.5%. At the same time, the Philippines (+136.1%) and Vietnam (+38.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +136.1% from 2012-2021. While the share of the Philippines (+24 p.p.), Thailand (+15 p.p.) and Vietnam (+3.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), the Philippines ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2021, with a combined 96% share of total exports.

The Philippines, with a CAGR of +141.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, picking up by 20% against the previous year. Over the period under review, the export price, however, showed a mild descent. The most prominent rate of growth was recorded in 2013 an increase of 34%. Over the period under review, the export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per unit), while Thailand ($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 (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Spectacle Plastic Frame Imports

Imports in ASEAN

In 2021, the amount of plastic frames and mountings for spectacles and goggles imported in ASEAN stood at X units, surging by 14% against the previous year's figure. Over the period under review, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 73% against the previous year. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, spectacle plastic frame imports skyrocketed to $X in 2021. Overall, imports showed prominent growth. The growth pace was the most rapid in 2013 with an increase of 54%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Thailand dominates imports structure, recording X units, which was approx. 74% of total imports in 2021. The Philippines (X units) held a 6.2% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (6%), Singapore (5.8%) and Malaysia (4.9%). Vietnam (X units) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to spectacle plastic frame imports into Thailand stood at +14.9%. At the same time, the Philippines (+43.0%), Indonesia (+30.8%) and Vietnam (+9.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +43.0% from 2012-2021. By contrast, Malaysia (-2.7%) and Singapore (-13.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand, the Philippines and Indonesia increased by +33, +5.7 and +4.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported plastic frames and mountings for spectacles and goggles in ASEAN, comprising 66% of total imports. The second position in the ranking was held by Singapore ($X), with a 13% share of total imports. It was followed by Indonesia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand stood at +12.6%. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (-3.7% per year) and Indonesia (+27.9% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, with an increase of 6.4% against the previous year. Import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacle plastic frame import price decreased by -28.3% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 40% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 the Philippines (+14.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform