GCC: Spectacle Non-Plastic Frame Market 2024

Spectacle Non-Plastic Frame Market Size in GCC

After three years of decline, the GCC spectacle non-plastic frame market increased by 18% to $X in 2021. The total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Spectacle Non-Plastic Frame Production in GCC

In value terms, spectacle non-plastic frame production dropped modestly to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by +0.6% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 82%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Spectacle Non-Plastic Frame Exports

Exports in GCC

In 2021, approx. X units of non-plastic frames and mountings for spectacles and goggles were exported in GCC; rising by 99% against 2020. Over the period under review, exports enjoyed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, spectacle non-plastic frame exports soared to $X in 2021. In general, exports continue to indicate a resilient increase. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X units, which was near 96% of total exports in 2021. Bahrain (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the non-plastic frames and mountings for spectacles and goggles exports, with a CAGR of +20.4% from 2012 to 2021. Bahrain (-11.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates increased by +36 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest spectacle non-plastic frame supplier in GCC, comprising 94% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 5.1% share of total exports.

In the United Arab Emirates, spectacle non-plastic frame exports expanded at an average annual rate of +26.9% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, which is down by -18.3% against the previous year. Over the period under review, the export price recorded a pronounced decline. The most prominent rate of growth was recorded in 2016 when the export price increased by 31%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Bahrain ($X per unit), while the United Arab Emirates amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.4%).

Spectacle Non-Plastic Frame Imports

Imports in GCC

In 2021, overseas purchases of non-plastic frames and mountings for spectacles and goggles increased by 96% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, showed a drastic downturn. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, spectacle non-plastic frame imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X units) represented the major importer of non-plastic frames and mountings for spectacles and goggles, comprising 80% of total imports. It was distantly followed by Kuwait (X units), committing a 12% share of total imports. Oman (X units), Bahrain (X units) and Qatar (X units) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to spectacle non-plastic frame imports into the United Arab Emirates stood at -6.3%. At the same time, Qatar (+16.3%), Oman (+16.2%) and Bahrain (+1.8%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +16.3% from 2012-2021. By contrast, Kuwait (-1.1%) illustrated a downward trend over the same period. While the share of Kuwait (+3.6 p.p.), Oman (+2.7 p.p.) and Qatar (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United Arab Emirates (-9.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported non-plastic frames and mountings for spectacles and goggles in GCC, comprising 50% of total imports. The second position in the ranking was held by Kuwait ($X), with a 7% share of total imports. It was followed by Qatar, with a 6.8% share.

In the United Arab Emirates, spectacle non-plastic frame imports increased at an average annual rate of +3.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+3.0% per year) and Qatar (+16.4% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, picking up by 3.9% against the previous year. Over the period under review, the import price enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 when the import price increased by 50% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform