Bangladesh: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in Bangladesh

In 2021, the Bangladeshi spectacle plastic frame market decreased by -5.8% to $X, falling for the fourth consecutive year after four years of growth. In general, consumption, however, showed resilient growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Spectacle Plastic Frame Production in Bangladesh

In value terms, spectacle plastic frame production reached $X in 2021 estimated in export price. Over the period under review, production, however, showed a resilient increase. The growth pace was the most rapid in 2014 when the production volume increased by 102%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Spectacle Plastic Frame Exports

Exports from Bangladesh

For the tenth year in a row, Bangladesh recorded growth in shipments abroad of plastic frames and mountings for spectacles and goggles, which increased by 123% to X units in 2021. In general, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, spectacle plastic frame exports surged to $X in 2021. Overall, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 132% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units), Hong Kong SAR (X units) and Hungary (X units) were the main destinations of spectacle plastic frame exports from Bangladesh, together comprising 65% of total exports. These countries were followed by Canada, Denmark, the Netherlands and Australia, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +224.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for plastic frames and mountings for spectacles and goggles exports from Bangladesh, comprising 36% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 16% share of total exports. It was followed by Hungary, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +76.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+28.3% per year) and Hungary (+36.3% per year).

Export Prices by Country

In 2021, the average spectacle plastic frame export price amounted to $X per unit, which is down by -35.3% against the previous year. Over the period under review, the export price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 25%. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Canada ($X per unit), while the average price for exports to Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+28.0%), while the prices for the other major destinations experienced a decline.

Spectacle Plastic Frame Imports

Imports into Bangladesh

In 2021, the amount of plastic frames and mountings for spectacles and goggles imported into Bangladesh surged to X units, growing by 79% compared with the previous year's figure. In general, imports showed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 614%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, spectacle plastic frame imports soared to $X in 2021. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 515%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, China (X units) constituted the largest spectacle plastic frame supplier to Bangladesh, accounting for a 65% share of total imports. Moreover, spectacle plastic frame imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +63.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+102.1% per year) and Hong Kong SAR (-2.5% per year).

In value terms, China ($X), Italy ($X) and Hong Kong SAR ($X) appeared to be the largest spectacle plastic frame suppliers to Bangladesh, with a combined 97% share of total imports.

Among the main suppliers, Italy, with a CAGR of +97.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average spectacle plastic frame import price amounted to $X per unit, surging by 18% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacle plastic frame import price increased by +66.1% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 42% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for Hong Kong SAR ($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 (+4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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