Eastern Asia: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Eastern Asia

The East Asian spectacles and goggles market rose slightly to $X in 2021, surging by 4.7% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the near future.

Spectacles And Goggles Production in Eastern Asia

In value terms, spectacles and goggles production declined to $X in 2021 estimated in export price. In general, production saw a perceptible setback. The most prominent rate of growth was recorded in 2016 when the production volume increased by 68%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Spectacles And Goggles Exports

Exports in Eastern Asia

Spectacles and goggles exports contracted dramatically to X units in 2021, shrinking by -17.1% on the previous year. Overall, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 127%. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, spectacles and goggles exports declined to $X in 2021. The total export value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 20%. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

In 2021, Taiwan (Chinese) (X units) represented the largest exporter of spectacles and goggles, making up 63% of total exports. It was distantly followed by China (X units) and Hong Kong SAR (X units), together constituting a 36% share of total exports.

Taiwan (Chinese) was also the fastest-growing in terms of the spectacles and goggles exports, with a CAGR of +1.9% from 2012 to 2021. Hong Kong SAR (-7.4%) and China (-19.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Taiwan (Chinese) and Hong Kong SAR increased by +45 and +1.5 percentage points, respectively.

In value terms, China ($X) remains the largest spectacles and goggles supplier in Eastern Asia, comprising 70% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +5.8%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+5.3% per year) and Hong Kong SAR (+1.7% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, growing by 9.8% against the previous year. Overall, the export price enjoyed a resilient increase. The pace of growth appeared the most rapid in 2018 an increase of 144% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while Taiwan (Chinese) ($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 (+31.6%), while the other leaders experienced more modest paces of growth.

Spectacles And Goggles Imports

Imports in Eastern Asia

In 2021, the amount of spectacles and goggles imported in Eastern Asia plummeted to X units, falling by -16.1% against the year before. Over the period under review, imports recorded a slight slump. The pace of growth was the most pronounced in 2020 with an increase of 18%. As a result, imports attained the peak of X units, and then declined markedly in the following year.

In value terms, spectacles and goggles imports soared to $X in 2021. The total import value increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X units) represented the key importer of spectacles and goggles, comprising 46% of total imports. Hong Kong SAR (X units) held the second position in the ranking, distantly followed by China (X units) and South Korea (X units). All these countries together held approx. 49% share of total imports. Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +7.4%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported spectacles and goggles in Eastern Asia, comprising 64% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by China, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Hong Kong SAR stood at +7.1%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-5.5% per year) and China (+7.1% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, increasing by 48% against the previous year. Import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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