China: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in China

The Chinese spectacle glass lenses market reduced remarkably to $X in 2022, declining by -66.3% against the previous year. Overall, consumption showed a deep contraction. Spectacle glass lenses consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Spectacle Glass Lenses Production in China

In value terms, spectacle glass lenses production shrank to $X in 2022 estimated in export price. Over the period under review, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.6% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 78%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Spectacle Glass Lenses Exports

Exports by Country

India (X units) was the main destination for spectacle glass lenses exports from China, accounting for a 25% share of total exports. Moreover, spectacle glass lenses exports to India exceeded the volume sent to the second major destination, Brazil (X units), fivefold. South Korea (X units) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume to India totaled +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+9.7% per year) and South Korea (-2.4% per year).

In value terms, India ($X), the United States ($X) and Italy ($X) were the largest markets for spectacle glass lenses exported from China worldwide, with a combined 26% share of total exports. Brazil, South Korea, Mexico, Thailand, Japan, Turkey, Indonesia, Vietnam, Argentina and Bangladesh lagged somewhat behind, together accounting for a further 27%.

Among the main countries of destination, Indonesia, with a CAGR of +17.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average spectacle glass lenses export price amounted to $X per unit, reducing by -20.6% against the previous year. In general, the export price, however, recorded moderate growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 580% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to India ($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 Italy (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Glass Lenses Imports

Imports into China

In 2022, the amount of spectacle lenses of glass or other materials imported into China expanded sharply to X units, picking up by 12% compared with 2021. Overall, imports, however, continue to indicate a perceptible setback. The growth pace was the most rapid in 2017 when imports increased by 48%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, spectacle glass lenses imports shrank slightly to $X in 2022. Over the period under review, imports enjoyed prominent growth. The growth pace was the most rapid in 2017 with an increase of 63%. Over the period under review, imports hit record highs at $X in 2021, and then fell slightly in the following year.

Imports by Country

Thailand (X units), Malaysia (X units) and the Philippines (X units) were the main suppliers of spectacle glass lenses imports to China, together accounting for 41% of total imports. Mexico, Vietnam, South Korea, Italy, Japan, Indonesia, the United States, France and Brazil lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +21.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest spectacle glass lenses suppliers to China were Thailand ($X), Malaysia ($X) and the Philippines ($X), together comprising 60% of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +37.0%, saw 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, with a decrease of -13.5% against the previous year. Overall, the import price, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2016 when the average import price increased by 179%. Over the period under review, average import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+24.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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