Latin America and the Caribbean: Spectacle Glass Lenses Market 2022

Spectacle Glass Lenses Market Size in Latin America and the Caribbean

The Latin American spectacle glass lenses market amounted to $X in 2021, with an increase of 13% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Spectacle Glass Lenses Production in Latin America and the Caribbean

In value terms, spectacle glass lenses production fell slightly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 6.7% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Spectacle Glass Lenses Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of spectacle lenses of glass or other materials was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 66%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, spectacle glass lenses exports soared to $X in 2021. Overall, exports saw a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico dominates exports structure, finishing at X tons, which was near 88% of total exports in 2021. It was distantly followed by Panama (X tons), comprising a 7.1% share of total exports. Brazil (X tons) took a relatively small share of total exports.

Mexico was also the fastest-growing in terms of the spectacle lenses of glass or other materials exports, with a CAGR of +2.2% from 2012 to 2021. Panama experienced a relatively flat trend pattern. Brazil (-15.5%) illustrated a downward trend over the same period. While the share of Mexico (+11 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Brazil (-11.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest spectacle glass lenses supplier in Latin America and the Caribbean, comprising 98% of total exports. The second position in the ranking was taken by Panama ($X), with a 0.9% share of total exports.

In Mexico, spectacle glass lenses exports expanded at an average annual rate of +10.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Panama (-2.9% per year) and Brazil (-15.6% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 42% against the previous year. Over the period under review, the export price showed a resilient expansion. The pace of growth appeared the most rapid in 2019 when the export price increased by 84% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Mexico ($X per ton), while Panama ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+7.7%), while the other leaders experienced a decline in the export price figures.

Spectacle Glass Lenses Imports

Imports in Latin America and the Caribbean

In 2021, the amount of spectacle lenses of glass or other materials imported in Latin America and the Caribbean surged to X tons, with an increase of 42% against 2020 figures. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +71.9% against 2014 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, spectacle glass lenses imports skyrocketed to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +92.5% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil represented the key importer of spectacle lenses of glass or other materials in Latin America and the Caribbean, with the volume of imports reaching X tons, which was near 38% of total imports in 2021. It was distantly followed by Mexico (X tons), Colombia (X tons), Chile (X tons), Argentina (X tons) and Peru (X tons), together comprising a 48% share of total imports. Ecuador (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Chile (with a CAGR of +20.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported spectacle lenses of glass or other materials in Latin America and the Caribbean, comprising 49% of total imports. The second position in the ranking was taken by Brazil ($X), with a 17% share of total imports. It was followed by Colombia, with a 9.4% share.

In Mexico, spectacle glass lenses imports increased at an average annual rate of +12.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+5.4% per year) and Colombia (+7.0% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, dropping by -8.4% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 9.1%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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