Indonesia: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Indonesia

The Indonesian spectacle glass lenses market fell slightly to $X in 2022, declining by -3.4% against the previous year. Overall, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +7.4% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Spectacle Glass Lenses Production in Indonesia

In value terms, spectacle glass lenses production fell to $X in 2022 estimated in export price. In general, the total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 35% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Spectacle Glass Lenses Exports

Exports from Indonesia

In 2022, spectacle glass lenses exports from Indonesia contracted modestly to X units, which is down by -3.4% compared with the previous year. Overall, exports recorded a noticeable decline. The pace of growth was the most pronounced in 2019 with an increase of 14% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, spectacle glass lenses exports reached $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 39% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for spectacle glass lenses exports from Indonesia, accounting for a 74% share of total exports. Moreover, spectacle glass lenses exports to the United States exceeded the volume sent to the second major destination, Thailand (X units), sevenfold. The third position in this ranking was held by China (X units), with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+35.7% per year) and China (+3.4% per year).

In value terms, the United States ($X) remains the key foreign market for spectacle lenses of glass or other materials exports from Indonesia, comprising 76% of total exports. The second position in the ranking was taken by Thailand ($X), with an 11% share of total exports. It was followed by China, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+40.9% per year) and China (+5.3% per year).

Export Prices by Country

In 2022, the average spectacle glass lenses export price amounted to $X per unit, growing by 14% against the previous year. Over the last decade, it increased at an average annual rate of +4.0%. The pace of growth was the most pronounced in 2021 an increase of 30% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per unit) and India ($X per unit), while the average price for exports to the UK ($X per unit) and Germany ($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 the United States (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Glass Lenses Imports

Imports into Indonesia

In 2022, supplies from abroad of spectacle lenses of glass or other materials increased by 72% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by 98%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, spectacle glass lenses imports soared to $X in 2022. Overall, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 102% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of spectacle glass lenses to Indonesia, with a 77% share of total imports. Moreover, spectacle glass lenses imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), fourfold. The third position in this ranking was taken by the Philippines (X units), with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +38.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+29.4% per year) and the Philippines (+9.7% per year).

In value terms, China ($X) constituted the largest supplier of spectacle lenses of glass or other materials to Indonesia, comprising 75% of total imports. The second position in the ranking was taken by Thailand ($X), with a 17% share of total imports. It was followed by the Philippines, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +39.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+30.3% per year) and the Philippines (+17.2% per year).

Import Prices by Country

The average spectacle glass lenses import price stood at $X per unit in 2022, surging by 5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2018 an increase of 16% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Philippines ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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