Bulgaria: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Bulgaria

The Bulgarian spectacle glass lenses market surged to $X in 2022, increasing by 20% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded prominent growth. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Spectacle Glass Lenses Exports

Exports from Bulgaria

In 2022, exports of spectacle lenses of glass or other materials from Bulgaria reduced remarkably to X units, waning by -38.3% compared with the previous year's figure. In general, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 28,673%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, spectacle glass lenses exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2013 when exports increased by 524%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Serbia (X units) was the main destination for spectacle glass lenses exports from Bulgaria, with a 56% share of total exports. Moreover, spectacle glass lenses exports to Serbia exceeded the volume sent to the second major destination, North Macedonia (X units), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Serbia amounted to +42.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+63.6% per year) and Moldova (0.0% per year).

In value terms, Serbia ($X), North Macedonia ($X) and Moldova ($X) were the largest markets for spectacle glass lenses exported from Bulgaria worldwide, with a combined 99% share of total exports.

North Macedonia, with a CAGR of +36.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average spectacle glass lenses export price stood at $X per unit in 2022, increasing by 87% against the previous year. Overall, the export price, however, continues to indicate a mild descent. The pace of growth appeared the most rapid in 2014 an increase of 3,814%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per unit), while the average price for exports to Moldova ($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 Romania (+141.7%), while the prices for the other major destinations experienced a decline.

Spectacle Glass Lenses Imports

Imports into Bulgaria

In 2022, supplies from abroad of spectacle lenses of glass or other materials was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 40%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, spectacle glass lenses imports skyrocketed to $X in 2022. In general, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2021 with an increase of 35%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest spectacle glass lenses supplier to Bulgaria, accounting for a 42% share of total imports. Moreover, spectacle glass lenses imports from China exceeded the figures recorded by the second-largest supplier, Hungary (X units), twofold. The third position in this ranking was held by Poland (X units), with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+45.2% per year) and Poland (+82.5% per year).

In value terms, the largest spectacle glass lenses suppliers to Bulgaria were Hungary ($X), Germany ($X) and Poland ($X), together accounting for 63% of total imports. China, Italy, Romania and the Czech Republic lagged somewhat behind, together accounting for a further 23%.

In terms of the main suppliers, Romania, with a CAGR of +105.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average spectacle glass lenses import price amounted to $X per unit, reducing by -3.8% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spectacle glass lenses import price increased by +31.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 38% against the previous year. The import price peaked at $X per unit in 2021, and then dropped modestly in the following year.

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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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