Malaysia: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in Malaysia

The Malaysian spectacle plastic frame market contracted to $X in 2021, with a decrease of -5.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a perceptible setback. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Spectacle Plastic Frame Exports

Exports from Malaysia

In 2021, after two years of decline, there was significant growth in overseas shipments of plastic frames and mountings for spectacles and goggles, when their volume increased by 106% to X units. Over the period under review, exports, however, saw a abrupt descent. The growth pace was the most rapid in 2015 when exports increased by 166% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, spectacle plastic frame exports soared to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 188%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Colombia (X units), the United States (X units) and Hong Kong SAR (X units) were the main destinations of spectacle plastic frame exports from Malaysia, together accounting for 40% of total exports. Japan, Turkey, Singapore, Brazil, Panama, Taiwan (Chinese), Italy, the United Arab Emirates, France and Cambodia lagged somewhat behind, together comprising a further 45%.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +23.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for plastic frames and mountings for spectacles and goggles exports from Malaysia, comprising 53% of total exports. The second position in the ranking was held by Japan ($X), with a 7.4% share of total exports. It was followed by the United Arab Emirates, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+2.6% per year) and the United Arab Emirates (+17.2% per year).

Export Prices by Country

The average spectacle plastic frame export price stood at $X per unit in 2021, waning by -21.6% against the previous year. Over the period under review, the export price, however, saw buoyant growth. The growth pace was the most rapid in 2020 an increase of 207%. As a result, the export price reached the peak level of $X per unit, and then dropped dramatically in the following year.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Colombia ($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 the United States (+27.2%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Plastic Frame Imports

Imports into Malaysia

After two years of decline, purchases abroad of plastic frames and mountings for spectacles and goggles increased by 16% to X units in 2021. In general, imports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 186% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, spectacle plastic frame imports fell to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2015 with an increase of 149%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest spectacle plastic frame supplier to Malaysia, accounting for a 62% share of total imports. Moreover, spectacle plastic frame imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), fourfold. Hong Kong SAR (X units) ranked third in terms of total imports with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+19.7% per year) and Hong Kong SAR (-18.7% per year).

In value terms, the largest spectacle plastic frame suppliers to Malaysia were China ($X), Hong Kong SAR ($X) and Italy ($X), together comprising 60% of total imports. South Korea and Japan lagged somewhat behind, together accounting for a further 12%.

South Korea, with a CAGR of +15.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average spectacle plastic frame import price stood at $X per unit in 2021, which is down by -20.8% against the previous year. In general, the import price saw a mild shrinkage. The pace of growth was the most pronounced in 2017 an increase of 46%. Over the period under review, average import prices attained the maximum at $X per unit in 2020, and then contracted significantly in the following year.

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 Hong Kong SAR (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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