Asia: Spectacle Glass Lenses Market 2022

Spectacle Glass Lenses Market Size in Asia

In 2021, after seven years of growth, there was significant decline in the Asian spectacle glass lenses market, when its value decreased by -16.2% to $X. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 +85.7% against 2013 indices. As a result, consumption reached the peak level of $X, and then reduced markedly in the following year.

Spectacle Glass Lenses Production in Asia

In value terms, spectacle glass lenses production plummeted to $X in 2021 estimated in export price. Over the period under review, production showed a prominent increase. The growth pace was the most rapid in 2020 when the production volume increased by 181%. As a result, production reached the peak level of $X, and then fell sharply in the following year.

Spectacle Glass Lenses Exports

Exports in Asia

In 2021, exports of spectacle lenses of glass or other materials in Asia soared to X tons, rising by 19% compared with the previous year's figure. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2020 when exports increased by 825% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

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% from 2012 to 2021; however, the trend pattern 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

Thailand prevails in exports structure, accounting for X tons, which was approx. 91% of total exports in 2021. China (X tons) and the Philippines (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 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. While the share of Thailand (+72 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the Philippines (-12.4 p.p.) and China (-14.1 p.p.) displayed negative dynamics.

In value terms, the largest spectacle glass lenses supplying countries in Asia were China ($X), Thailand ($X) and the Philippines ($X), together comprising 75% of total exports.

China, with a CAGR of +9.2%, recorded 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

The export price in Asia stood at $X per ton in 2021, growing by 4.8% against the previous year. Overall, the export price, however, recorded a dramatic curtailment. The pace of growth was the most pronounced in 2013 an increase of 15% against the previous year. Over the period under review, the export prices attained the maximum 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

In 2021, approx. X tons of spectacle lenses of glass or other materials were imported in Asia; increasing by 17% on the year before. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 294%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, spectacle glass lenses imports skyrocketed to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% 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 2017 when imports increased by 30%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Thailand prevails in imports structure, accounting for X tons, which was approx. 88% 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, China ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2021.

Among the main importing countries, China, with a CAGR of +13.5%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, increasing by 1.7% against the previous year. Over the period under review, the import price, however, showed a significant curtailment. The most prominent rate of growth was recorded in 2016 an increase of 25% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: 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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