Latin America and the Caribbean: Spectacle Non-Plastic Frame Market 2024

Spectacle Non-Plastic Frame Market Size in Latin America and the Caribbean

The Latin American spectacle non-plastic frame market surged to $X in 2021, increasing by 61% against the previous year. In general, consumption, however, continues to indicate a noticeable shrinkage. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Spectacle Non-Plastic Frame Production in Latin America and the Caribbean

In value terms, spectacle non-plastic frame production contracted notably to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2015 with an increase of 75%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Spectacle Non-Plastic Frame Exports

Exports in Latin America and the Caribbean

In 2021, after two years of growth, there was significant decline in overseas shipments of non-plastic frames and mountings for spectacles and goggles, when their volume decreased by -47.4% to X units. Over the period under review, exports saw a deep downturn. The growth pace was the most rapid in 2020 when exports increased by 137% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, spectacle non-plastic frame exports fell dramatically to $X in 2021. Overall, exports faced a deep downturn. The pace of growth was the most pronounced in 2020 when exports increased by 142% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Uruguay (X units) and Brazil (X units) represented the major exporters of non-plastic frames and mountings for spectacles and goggles in Latin America and the Caribbean, together reaching near 65% of total exports. Panama (X units) took the next position in the ranking, followed by Chile (X units) and Mexico (X units). All these countries together took approx. 24% share of total exports. Peru (X units) and Ecuador (X units) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Uruguay (with a CAGR of +71.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest spectacle non-plastic frame supplying countries in Latin America and the Caribbean were Brazil ($X), Panama ($X) and Ecuador ($X), with a combined 56% share of total exports. These countries were followed by Chile, Peru, Mexico and Uruguay, which together accounted for a further 36%.

Uruguay, with a CAGR of +51.2%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, declining by -21.3% against the previous year. Overall, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2013 when the export price increased by 23% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Ecuador ($X per unit), while Uruguay ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+28.9%), while the other leaders experienced more modest paces of growth.

Spectacle Non-Plastic Frame Imports

Imports in Latin America and the Caribbean

In 2021, approx. X units of non-plastic frames and mountings for spectacles and goggles were imported in Latin America and the Caribbean; with an increase of 77% against 2020. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, spectacle non-plastic frame imports surged to $X in 2021. Overall, imports, however, continue to indicate a noticeable downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Mexico represented the key importer of non-plastic frames and mountings for spectacles and goggles in Latin America and the Caribbean, with the volume of imports resulting at X units, which was approx. 54% of total imports in 2021. Chile (X units) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (9.2%) and Ecuador (5.1%). The following importers - Colombia (X units), Argentina (X units) and Guatemala (X units) - each resulted at a 5.3% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to spectacle non-plastic frame imports into Mexico stood at +1.5%. At the same time, Ecuador (+13.3%), Guatemala (+13.2%) and Chile (+5.2%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +13.3% from 2012-2021. By contrast, Brazil (-7.3%), Colombia (-10.4%) and Argentina (-13.6%) illustrated a downward trend over the same period. While the share of Mexico (+10 p.p.), Chile (+7.7 p.p.) and Ecuador (+3.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Colombia (-2.8 p.p.), Argentina (-4.3 p.p.) and Brazil (-7.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported non-plastic frames and mountings for spectacles and goggles in Latin America and the Caribbean, comprising 39% of total imports. The second position in the ranking was held by Brazil ($X), with a 14% share of total imports. It was followed by Chile, with an 8.9% share.

In Mexico, spectacle non-plastic frame imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (-9.5% per year) and Chile (-1.8% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, declining by -16.2% against the previous year. Over the period under review, the import price showed a pronounced slump. The pace of growth appeared the most rapid in 2017 an increase of 7.9% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Guatemala ($X per unit), while Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+6.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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