India: Spectacle Non-Plastic Frame Market 2024

Spectacle Non-Plastic Frame Market Size in India

The Indian spectacle non-plastic frame market soared to $X in 2021, growing by 41% against the previous year. The market value increased at an average annual rate of +2.4% over the period 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 maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Spectacle Non-Plastic Frame Production in India

In value terms, spectacle non-plastic frame production reduced dramatically to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by 55%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Spectacle Non-Plastic Frame Exports

Exports from India

For the third consecutive year, India recorded growth in overseas shipments of non-plastic frames and mountings for spectacles and goggles, which increased by 81% to X units in 2021. In general, exports posted buoyant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 142% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, spectacle non-plastic frame exports soared to $X in 2021. Overall, exports enjoyed a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X units), Argentina (X units) and Bangladesh (X units) were the main destinations of spectacle non-plastic frame exports from India, with a combined 49% share of total exports. The Netherlands, Sudan, Nepal, Qatar, Italy, South Africa, Nigeria and Saudi Arabia lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +284.4%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the key foreign market for non-plastic frames and mountings for spectacles and goggles exports from India, comprising 44% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 15% share of total exports. It was followed by Italy, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Singapore stood at +368.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+401.5% per year) and Italy (+2.1% per year).

Export Prices by Country

The average spectacle non-plastic frame export price stood at $X per unit in 2021, increasing by 18% against the previous year. Overall, the export price posted a pronounced increase. The pace of growth was the most pronounced in 2013 when the average export price increased by 108% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per unit), while the average price for exports to Bangladesh ($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 Singapore (+48.5%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Non-Plastic Frame Imports

Imports into India

In 2021, the amount of non-plastic frames and mountings for spectacles and goggles imported into India soared to X units, with an increase of 72% against the previous year. In general, imports saw a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, spectacle non-plastic frame imports skyrocketed to $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) was the main spectacle non-plastic frame supplier to India, with a 93% share of total imports. Moreover, spectacle non-plastic frame imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+39.8% per year) and Italy (+14.5% per year).

In value terms, China ($X) constituted the largest supplier of non-plastic frames and mountings for spectacles and goggles to India, comprising 73% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with an 8.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+26.7% per year) and Italy (-1.9% per year).

Import Prices by Country

The average spectacle non-plastic frame import price stood at $X per unit in 2021, almost unchanged from the previous year. Over the period under review, the import price showed a perceptible curtailment. The growth pace was the most rapid in 2013 when the average import price increased by 12% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for China ($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 (-3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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