Hong Kong SAR, China: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in Hong Kong SAR, China

The Hong Kong spectacle plastic frame market reduced notably to $X in 2021, falling by -33.7% against the previous year. Over the period under review, consumption, however, continues to indicate a tangible increase. Spectacle plastic frame consumption peaked at $X in 2020, and then reduced remarkably in the following year.

Spectacle Plastic Frame Production in Hong Kong SAR, China

In value terms, spectacle plastic frame production reduced to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 25% against the previous year. Spectacle plastic frame production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Spectacle Plastic Frame Exports

Exports from Hong Kong SAR, China

After four years of decline, shipments abroad of plastic frames and mountings for spectacles and goggles increased by 36% to X units in 2021. The total export volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, spectacle plastic frame exports skyrocketed to $X in 2021. In general, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 44%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for spectacle plastic frame exports from Hong Kong SAR, accounting for a 39% share of total exports. Moreover, spectacle plastic frame exports to the United States exceeded the volume sent to the second major destination, Italy (X units), twofold. China (X units) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+3.5% per year) and China (+10.1% per year).

In value terms, the United States ($X) remains the key foreign market for plastic frames and mountings for spectacles and goggles exports from Hong Kong SAR, comprising 37% of total exports. The second position in the ranking was held by Italy ($X), with a 16% share of total exports. It was followed by France, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+3.6% per year) and France (+4.2% per year).

Export Prices by Country

In 2021, the average spectacle plastic frame export price amounted to $X per unit, falling by -2.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.8%. The growth pace was the most rapid in 2016 an increase of 12%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Japan ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Plastic Frame Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of plastic frames and mountings for spectacles and goggles was finally on the rise to reach X units after two years of decline. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its volume 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. Based on 2021 figures, imports decreased by -23.0% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 43%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, spectacle plastic frame imports soared to $X in 2021. In general, imports recorded strong growth. The growth pace was the most rapid in 2016 with an increase of 115% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of spectacle plastic frame to Hong Kong SAR, with a 92% share of total imports. It was followed by the United States (X units), with a 2.4% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China stood at +2.0%.

In value terms, China ($X) constituted the largest supplier of plastic frames and mountings for spectacles and goggles to Hong Kong SAR, comprising 86% of total imports. The second position in the ranking was held by the United States ($X), with a 1.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +14.6%.

Import Prices by Country

In 2021, the average spectacle plastic frame import price amounted to $X per unit, shrinking by -3.4% against the previous year. Overall, the import price, however, continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2016 when the average import price increased by 50%. The import price peaked at $X per unit in 2020, and then reduced in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was China ($X per unit), while the price for the United States totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.4%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :