Asia-Pacific: Spectacle Glass Lenses Market 2022

Spectacle Glass Lenses Market Size in Asia-Pacific

In 2021, the Asia-Pacific spectacle glass lenses market decreased by -17.4% to $X for the first time since 2013, thus ending a seven-year rising trend. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +88.5% against 2013 indices. As a result, consumption reached the peak level of $X, and then shrank significantly in the following year.

Spectacle Glass Lenses Production in Asia-Pacific

In value terms, spectacle glass lenses production reduced markedly to $X in 2021 estimated in export price. Overall, production enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 185% against the previous year. As a result, production reached the peak level of $X, and then shrank dramatically in the following year.

Spectacle Glass Lenses Exports

Exports in Asia-Pacific

For the fifth year in a row, Asia-Pacific recorded growth in shipments abroad of spectacle lenses of glass or other materials, which increased by 19% to X tons in 2021. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 830%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, spectacle glass lenses exports soared to $X in 2021. The total export value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand dominates exports structure, finishing at X tons, which was approx. 92% of total exports in 2021. China (X tons) and the Philippines (X tons) held a minor share of total exports.

Thailand was also the fastest-growing in terms of the spectacle lenses of glass or other materials exports, with a CAGR of +57.5% from 2012 to 2021. At the same time, China (+12.8%) and the Philippines (+5.8%) displayed positive paces of growth. Thailand (+72 p.p.) significantly strengthened its position in terms of the total exports, while the Philippines and China saw its share reduced by -12.6% and -14.3% from 2012 to 2021, respectively.

In value terms, the largest spectacle glass lenses supplying countries in Asia-Pacific were China ($X), Thailand ($X) and the Philippines ($X), with a combined 76% share of total exports.

Among the main exporting countries, China, with a CAGR of +9.2%, 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.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, picking up by 4.6% against the previous year. In general, the export price, however, faced a sharp downturn. The pace of growth appeared the most rapid in 2013 when the export price increased by 15%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (-1.7%), while the other leaders experienced a decline in the export price figures.

Spectacle Glass Lenses Imports

Imports in Asia-Pacific

For the fifth year in a row, Asia-Pacific recorded growth in purchases abroad of spectacle lenses of glass or other materials, which increased by 17% to X tons in 2021. Over the period under review, imports posted a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 306%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, spectacle glass lenses imports skyrocketed to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.5% against 2017 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 30%. As a result, imports attained the peak of $X; afterwards, it flattened through to 2021.

Imports by Country

Thailand prevails in imports structure, amounting to X tons, which was near 90% of total imports in 2021. China (X tons) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the spectacle lenses of glass or other materials imports, with a CAGR of +64.8% from 2012 to 2021. At the same time, China (+13.4%) displayed positive paces of growth. From 2012 to 2021, the share of Thailand increased by +77 percentage points.

In value terms, the largest spectacle glass lenses importing markets in Asia-Pacific were China ($X) and Thailand ($X).

China, with a CAGR of +13.5%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, flattening at the previous year. In general, the import price, however, continues to indicate a sharp curtailment. The most prominent rate of growth was recorded in 2016 when the import price increased by 27%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, 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 China ($X per ton), while Thailand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.1%).

Source: IndexBox Platform

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