Australia: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Australia

For the third year in a row, the Australian spectacle glass lenses market recorded growth in sales value, which increased by 10% to $X in 2022. Overall, consumption continues to indicate a relatively flat trend pattern. Spectacle glass lenses consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Spectacle Glass Lenses Exports

Exports from Australia

In 2022, shipments abroad of spectacle lenses of glass or other materials increased by 12% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 20%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, spectacle glass lenses exports shrank dramatically to $X in 2022. Over the period under review, exports, however, showed a abrupt slump. The growth pace was the most rapid in 2013 with an increase of 8% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand (X units), Hong Kong SAR (X units) and the United States (X units) were the main destinations of spectacle glass lenses exports from Australia, together accounting for 71% of total exports. The UK, South Africa, China, New Zealand, Singapore, Taiwan (Chinese) and Malaysia lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +64.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spectacle glass lenses exported from Australia were Hong Kong SAR ($X), Thailand ($X) and the United States ($X), together comprising 64% of total exports. South Africa, China, New Zealand, the UK, Singapore, Taiwan (Chinese) and Malaysia lagged somewhat behind, together accounting for a further 30%.

In terms of the main countries of destination, the UK, with a CAGR of +44.0%, 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 mixed trend patterns.

Export Prices by Country

The average spectacle glass lenses export price stood at $X per unit in 2022, falling by -29.5% against the previous year. In general, the export price saw a drastic downturn. The most prominent rate of growth was recorded in 2020 an increase of 16%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Glass Lenses Imports

Imports into Australia

In 2022, overseas purchases of spectacle lenses of glass or other materials increased by 21% to X units, rising for the sixth consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, spectacle glass lenses imports expanded sharply to $X in 2022. Overall, imports, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 13% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X units) constituted the largest supplier of spectacle glass lenses to Australia, with a 58% share of total imports. Moreover, spectacle glass lenses imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by the Philippines (X units), with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand amounted to +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+22.0% per year) and the Philippines (+9.8% per year).

In value terms, Thailand ($X) constituted the largest supplier of spectacle lenses of glass or other materials to Australia, comprising 57% of total imports. The second position in the ranking was taken by China ($X), with a 23% share of total imports. It was followed by the Philippines, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand amounted to -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.7% per year) and the Philippines (+9.6% per year).

Import Prices by Country

The average spectacle glass lenses import price stood at $X per unit in 2022, declining by -12.6% against the previous year. Over the period under review, the import price saw a noticeable reduction. The growth pace was the most rapid in 2013 an increase of 7.2%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for Portugal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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