Latin America and the Caribbean: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in Latin America and the Caribbean

In 2021, the Latin American spectacle plastic frame market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Spectacle Plastic Frame Production in Latin America and the Caribbean

In value terms, spectacle plastic frame production rose rapidly to $X in 2021 estimated in export price. The total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -12.1% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 24%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Spectacle Plastic Frame Exports

Exports in Latin America and the Caribbean

In 2021, exports of plastic frames and mountings for spectacles and goggles in Latin America and the Caribbean soared to X units, picking up by 84% on 2020. In general, exports saw a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 99% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, spectacle plastic frame exports soared to $X in 2021. Over the period under review, exports saw a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 80% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

Brazil prevails in exports structure, finishing at X units, which was approx. 76% of total exports in 2021. Colombia (X units) took the second position in the ranking, followed by Cuba (X units). All these countries together held approx. 14% share of total exports. Mexico (X units) and Chile (X units) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the plastic frames and mountings for spectacles and goggles exports, with a CAGR of +61.5% from 2012 to 2021. At the same time, Cuba (+30.8%), Colombia (+8.3%), Chile (+4.8%) and Mexico (+2.3%) displayed positive paces of growth. Brazil (+71 p.p.) and Cuba (+3.8 p.p.) significantly strengthened its position in terms of the total exports, while Chile, Colombia and Mexico saw its share reduced by -5.8%, -9.3% and -11.8% from 2012 to 2021, respectively.

In value terms, Brazil ($X) remains the largest spectacle plastic frame supplier in Latin America and the Caribbean, comprising 59% of total exports. The second position in the ranking was held by Cuba ($X), with a 24% share of total exports. It was followed by Colombia, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil totaled +51.0%. In the other countries, the average annual rates were as follows: Cuba (+42.8% per year) and Colombia (+8.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, falling by -18.7% against the previous year. Over the period under review, the export price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2015 when the export price increased by 31%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Cuba ($X per unit), while Mexico ($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 (+15.5%), while the other leaders experienced mixed trends in the export price figures.

Spectacle Plastic Frame Imports

Imports in Latin America and the Caribbean

In 2021, spectacle plastic frame imports in Latin America and the Caribbean surged to X units, jumping by 75% against the previous year. Overall, imports saw prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, spectacle plastic frame imports skyrocketed to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.3% 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

Mexico was the key importer of 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 near 51% of total imports in 2021. Chile (X units) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Peru (11%) and Brazil (6.3%). Ecuador (X units), Colombia (X units) and Argentina (X units) took a relatively small share of total imports.

Imports into Mexico increased at an average annual rate of +10.0% from 2012 to 2021. At the same time, Ecuador (+32.4%), Peru (+22.7%), Chile (+22.3%), Colombia (+9.1%), Brazil (+6.0%) and Argentina (+5.8%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +32.4% from 2012-2021. Chile (+11 p.p.), Peru (+6.1 p.p.) and Ecuador (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Mexico saw its share reduced by -3.9% and -8.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported plastic frames and mountings for spectacles and goggles in Latin America and the Caribbean, comprising 35% of total imports. The second position in the ranking was held by Brazil ($X), with a 14% share of total imports. It was followed by Peru, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value in Mexico amounted to +10.5%. In the other countries, the average annual rates were as follows: Brazil (+0.6% per year) and Peru (+17.4% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, reducing by -8.1% against the previous year. Overall, the import price saw a noticeable reduction. The pace of growth appeared the most rapid in 2013 when the import price increased by 21%. Over the period under review, import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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