Guatemala: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Guatemala

The Guatemalan spectacle glass lenses market rose significantly to $X in 2022, growing by 7.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +59.6% against 2017 indices. Spectacle glass lenses consumption peaked in 2022 and is expected to retain growth in the near future.

Spectacle Glass Lenses Exports

Exports from Guatemala

In 2022, approx. X units of spectacle lenses of glass or other materials were exported from Guatemala; picking up by 3% on 2021. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2014 with an increase of 105%. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, spectacle glass lenses exports shrank to $X in 2022. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 107% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

El Salvador (X units) was the main destination for spectacle glass lenses exports from Guatemala, accounting for a 55% share of total exports. Moreover, spectacle glass lenses exports to El Salvador exceeded the volume sent to the second major destination, Honduras (X units), fourfold. Guyana (X units) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador totaled +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+67.1% per year) and Guyana (+72.4% per year).

In value terms, El Salvador ($X) remains the key foreign market for spectacle lenses of glass or other materials exports from Guatemala, comprising 55% of total exports. The second position in the ranking was taken by Honduras ($X), with a 13% share of total exports. It was followed by Guyana, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador totaled +16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+73.6% per year) and Guyana (+70.7% per year).

Export Prices by Country

The average spectacle glass lenses export price stood at $X per unit in 2022, declining by -11.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2020 an increase of 17% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2021, and then contracted in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Honduras ($X per unit) and Guyana ($X per unit), while the average price for exports to Saint Lucia ($X per unit) and Belize ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Glass Lenses Imports

Imports into Guatemala

Spectacle glass lenses imports into Guatemala totaled X units in 2022, picking up by 8.7% against 2021. Overall, imports saw a resilient expansion. The pace of growth was the most pronounced in 2019 when imports increased by 30%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, spectacle glass lenses imports totaled $X in 2022. Over the period under review, imports showed a strong expansion. The growth pace was the most rapid in 2015 with an increase of 23% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest spectacle glass lenses supplier to Guatemala, accounting for a 52% share of total imports. Moreover, spectacle glass lenses imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was taken by Mexico (X units), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +41.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.4% per year) and Mexico (-1.2% per year).

In value terms, China ($X) constituted the largest supplier of spectacle lenses of glass or other materials to Guatemala, comprising 52% of total imports. The second position in the ranking was taken by the United States ($X), with a 15% share of total imports. It was followed by Mexico, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +41.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.4% per year) and Mexico (-1.2% per year).

Import Prices by Country

The average spectacle glass lenses import price stood at $X per unit in 2022, falling by -4.5% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 19%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per unit) and Lao People's Democratic Republic ($X per unit), while the price for Japan ($X per unit) and Taiwan (Chinese) ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+0.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform