Asia-Pacific: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Asia-Pacific

The Asia-Pacific spectacles and goggles market dropped slightly to $X in 2021, with a decrease of -3.4% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Spectacles And Goggles Production in Asia-Pacific

In value terms, spectacles and goggles production stood at $X in 2021 estimated in export price. In general, production, however, continues to indicate a mild reduction. The growth pace was the most rapid in 2016 with an increase of 65%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Spectacles And Goggles Exports

Exports in Asia-Pacific

In 2021, the amount of spectacles and goggles exported in Asia-Pacific fell rapidly to X units, dropping by -15.7% compared with 2020. Overall, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2016 when exports increased by 119%. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, spectacles and goggles exports fell to $X in 2021. The total export value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

Taiwan (Chinese) was the main exporting country with an export of around X units, which recorded 59% of total exports. It was distantly followed by China (X units) and Hong Kong SAR (X units), together achieving a 33% share of total exports. Thailand (X units) and Malaysia (X units) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to spectacles and goggles exports from Taiwan (Chinese) stood at +1.9%. At the same time, Thailand (+14.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +14.7% from 2012-2021. By contrast, Hong Kong SAR (-7.4%), Malaysia (-11.3%) and China (-19.6%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+41 p.p.) and Thailand (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-45.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest spectacles and goggles supplier in Asia-Pacific, comprising 64% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 15% share of total exports. It was followed by Hong Kong SAR, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +5.8%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+5.3% per year) and Hong Kong SAR (+1.7% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, picking up by 10% against the previous year. Over the period under review, the export price recorded strong growth. The pace of growth appeared the most rapid in 2018 an increase of 132%. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while Taiwan (Chinese) ($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 (+31.6%), while the other leaders experienced more modest paces of growth.

Spectacles And Goggles Imports

Imports in Asia-Pacific

In 2021, the amount of spectacles and goggles imported in Asia-Pacific contracted rapidly to X units, shrinking by -38.3% on the previous year's figure. In general, imports showed a mild decrease. The pace of growth was the most pronounced in 2020 with an increase of 52%. As a result, imports reached the peak of X units, and then dropped dramatically in the following year.

In value terms, spectacles and goggles imports dropped slightly to $X in 2021. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 17%. The level of import peaked at $X in 2020, and then contracted slightly in the following year.

Imports by Country

The countries with the highest levels of spectacles and goggles imports in 2021 were Australia (X units), Japan (X units), Thailand (X units) and Hong Kong SAR (X units), together amounting to 69% of total import. China (X units) ranks next in terms of the total imports with a 5.9% share, followed by India (5.5%) and South Korea (4.6%).

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +7.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest spectacles and goggles importing markets in Asia-Pacific were Hong Kong SAR ($X), Australia ($X) and Japan ($X), with a combined 74% share of total imports. These countries were followed by China, South Korea, Thailand and India, which together accounted for a further 12%.

China, with a CAGR of +7.1%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, growing by 61% against the previous year. Over the last nine years, it increased at an average annual rate of +4.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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