Asia-Pacific: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in Asia-Pacific

In 2021, the Asia-Pacific spectacle plastic frame market decreased by -4.5% to $X, falling for the third consecutive year after seven years of growth. The total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% 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 -16.0% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Spectacle Plastic Frame Production in Asia-Pacific

In value terms, spectacle plastic frame production expanded to $X in 2021 estimated in export price. Overall, production saw a mild shrinkage. The pace of growth was the most pronounced in 2016 when the production volume increased by 95% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Spectacle Plastic Frame Exports

Exports in Asia-Pacific

In 2021, overseas shipments of plastic frames and mountings for spectacles and goggles were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 189%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, spectacle plastic frame exports soared to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Hong Kong SAR (X units) represented the main exporter of plastic frames and mountings for spectacles and goggles, generating 60% of total exports. It was distantly followed by China (X units), constituting a 28% share of total exports. South Korea (X units) and Thailand (X units) held a little share of total exports.

Exports from Hong Kong SAR increased at an average annual rate of +3.1% from 2012 to 2021. At the same time, Thailand (+30.5%) and South Korea (+8.5%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +30.5% from 2012-2021. By contrast, China (-13.8%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+31 p.p.), South Korea (+2.8 p.p.) and Thailand (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-40.2 p.p.) displayed negative dynamics.

In value terms, the largest spectacle plastic frame supplying countries in Asia-Pacific were China ($X), Hong Kong SAR ($X) and South Korea ($X), with a combined 92% share of total exports. These countries were followed by Thailand, which accounted for a further 1.4%.

Among the main exporting countries, Thailand, with a CAGR of +21.6%, saw 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.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, increasing by 5.2% against the previous year. In general, the export price recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 an increase of 221%. The level of export peaked in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+28.5%), while the other leaders experienced mixed trends in the export price figures.

Spectacle Plastic Frame Imports

Imports in Asia-Pacific

After two years of decline, supplies from abroad of plastic frames and mountings for spectacles and goggles increased by 22% to X units in 2021. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, spectacle plastic frame imports soared to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 32% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Hong Kong SAR was the major importing country with an import of around X units, which reached 54% of total imports. Japan (X units) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by India (12%) and Thailand (7.8%). The following importers - China (X units) and Australia (X units) - each finished at a 5.7% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to spectacle plastic frame imports into Hong Kong SAR stood at +2.5%. At the same time, Thailand (+14.9%), India (+9.1%), Australia (+1.7%) and Japan (+1.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +14.9% from 2012-2021. By contrast, China (-4.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand and India increased by +4.9 and +4.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported plastic frames and mountings for spectacles and goggles in Asia-Pacific, comprising 53% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports. It was followed by Thailand, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value in Hong Kong SAR stood at +13.2%. In the other countries, the average annual rates were as follows: Japan (+1.0% per year) and Thailand (+12.6% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, with an increase of 2.5% against the previous year. Over the last nine years, it increased at an average annual rate of +4.9%. The pace of growth was the most pronounced in 2016 an increase of 13%. Over the period under review, import prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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