China: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in China

In 2021, the Chinese spectacle plastic frame market decreased by -8.4% to $X, falling for the second consecutive year after eight years of growth. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.3% 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 decreased by -8.6% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Spectacle Plastic Frame Production in China

In value terms, spectacle plastic frame production contracted slightly to $X in 2021 estimated in export price. In general, production recorded a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of 193% against the previous year. Spectacle plastic frame production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Spectacle Plastic Frame Exports

Exports from China

In 2021, shipments abroad of plastic frames and mountings for spectacles and goggles increased by 17% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2016 with an increase of 578%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, spectacle plastic frame exports soared to $X in 2021. Overall, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +10.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), Hong Kong SAR (X units) and India (X units) were the main destinations of spectacle plastic frame exports from China, together accounting for 33% of total exports. Mexico, Italy, the Philippines, Peru, the UK, Malaysia, Japan, France, Thailand and Australia lagged somewhat behind, together comprising a further 38%.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +23.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spectacle plastic frame exported from China were Hong Kong SAR ($X), the United States ($X) and Italy ($X), with a combined 55% share of total exports. These countries were followed by India, the UK, Japan, France, Australia, Mexico, Thailand, the Philippines, Malaysia and Peru, which together accounted for a further 23%.

The Philippines, with a CAGR of +41.4%, saw the highest growth rate of the value of exports, among 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 plastic frame export price stood at $X per unit in 2021, surging by 20% against the previous year. Over the period under review, the export price recorded a significant expansion. The pace of growth was the most pronounced in 2014 an increase of 914% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average 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 Hong Kong SAR ($X per unit), while the average price for exports to the Philippines ($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 Hong Kong SAR (+39.2%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Plastic Frame Imports

Imports into China

In 2021, approx. X units of plastic frames and mountings for spectacles and goggles were imported into China; rising by 57% compared with 2020 figures. Over the period under review, imports, however, saw a noticeable descent. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, spectacle plastic frame imports surged to $X in 2021. In general, total imports 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. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X units) constituted the largest spectacle plastic frame supplier to China, accounting for a 32% share of total imports. Moreover, spectacle plastic frame imports from Italy exceeded the figures recorded by the second-largest supplier, South Korea (X units), threefold. The third position in this ranking was taken by Vietnam (X units), with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume from Italy stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-12.2% per year) and Vietnam (+65.9% per year).

In value terms, Italy ($X) constituted the largest supplier of plastic frames and mountings for spectacles and goggles to China, comprising 30% of total imports. The second position in the ranking was taken by Japan ($X), with an 8.2% share of total imports. It was followed by South Korea, with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.3% per year) and South Korea (-0.3% per year).

Import Prices by Country

The average spectacle plastic frame import price stood at $X per unit in 2021, declining by -3.1% against the previous year. Overall, the import price, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2013 when the average import price increased by 89%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+57.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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