Eastern Asia: Spectacle Glass Lenses Market 2022

Spectacle Glass Lenses Market Size in Eastern Asia

In 2021, the East Asian spectacle glass lenses market decreased by -20.1% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate a buoyant increase. As a result, consumption reached the peak level of $X, and then reduced dramatically in the following year.

Spectacle Glass Lenses Production in Eastern Asia

In value terms, spectacle glass lenses production reduced to $X in 2021 estimated in export price. The total production indicated buoyant growth 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. Based on 2021 figures, production increased by +89.4% against 2013 indices. The most prominent rate of growth was recorded in 2020 with an increase of 37%. As a result, production attained the peak level of $X, and then fell in the following year.

Spectacle Glass Lenses Exports

Exports in Eastern Asia

Spectacle glass lenses exports surged to X tons in 2021, increasing by 38% compared with the year before. Total exports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +132.3% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, spectacle glass lenses exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +6.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, finishing at X tons, which was approx. 83% of total exports in 2021. It was distantly followed by Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together making up an 11% share of total exports. South Korea (X tons) and Japan (X tons) took a minor share of total exports.

China was also the fastest-growing in terms of the spectacle lenses of glass or other materials exports, with a CAGR of +12.8% from 2012 to 2021. Hong Kong SAR experienced a relatively flat trend pattern. Taiwan (Chinese) (-3.7%), South Korea (-8.9%) and Japan (-20.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +42 percentage points.

In value terms, China ($X) remains the largest spectacle glass lenses supplier in Eastern Asia, comprising 75% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 13% share of total exports. It was followed by Japan, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +9.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+8.1% per year) and Japan (-4.6% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, falling by -5.6% against the previous year. Export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.8% 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 glass lenses export price decreased by -44.1% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 29%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+19.5%), while the other leaders experienced more modest paces of growth.

Spectacle Glass Lenses Imports

Imports in Eastern Asia

Spectacle glass lenses imports soared to X tons in 2021, picking up by 28% compared with 2020 figures. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, spectacle glass lenses imports soared to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.8% against 2017 indices. The pace of growth was the most pronounced in 2017 when imports increased by 41% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China represented the main importer of spectacle lenses of glass or other materials in Eastern Asia, with the volume of imports recording X tons, which was approx. 42% of total imports in 2021. Hong Kong SAR (X tons) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (17%), Japan (16%) and Taiwan (Chinese) (6.3%).

China was also the fastest-growing in terms of the spectacle lenses of glass or other materials imports, with a CAGR of +13.4% from 2012 to 2021. At the same time, Hong Kong SAR (+4.3%) displayed positive paces of growth. South Korea and Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (-2.4%) illustrated a downward trend over the same period. While the share of China (+23 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Taiwan (Chinese) (-3.1 p.p.), South Korea (-7.5 p.p.) and Japan (-12.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest spectacle glass lenses importing markets in Eastern Asia were China ($X), Japan ($X) and Hong Kong SAR ($X), with a combined 85% share of total imports.

In terms of the main importing countries, China, with a CAGR of +13.5%, saw the highest rates of growth with regard to 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 2021, the import price in Eastern Asia amounted to $X per ton, shrinking by -7.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2017 an increase of 13% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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