Malaysia: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Malaysia

In 2022, the Malaysian spectacle glass lenses market was finally on the rise to reach $X after four years of decline. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Spectacle Glass Lenses Production in Malaysia

In value terms, spectacle glass lenses production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 332% against the previous year. Spectacle glass lenses production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Spectacle Glass Lenses Exports

Exports from Malaysia

In 2022, exports of spectacle lenses of glass or other materials from Malaysia expanded modestly to X units, growing by 4.5% compared with 2021. In general, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 194% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, spectacle glass lenses exports surged to $X in 2022. Overall, exports enjoyed pronounced growth. The most prominent rate of growth was recorded in 2016 when exports increased by 220% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Italy (X units), Hong Kong SAR (X units) and Japan (X units) were the main destinations of spectacle glass lenses exports from Malaysia, with a combined 39% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +87.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spectacle glass lenses exported from Malaysia were Italy ($X), Singapore ($X) and Taiwan (Chinese) ($X), together accounting for 45% of total exports. France, Hong Kong SAR, Japan, the United States, China, Spain, Hungary, Germany, India and the UK lagged somewhat behind, together comprising a further 43%.

Japan, with a CAGR of +61.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average spectacle glass lenses export price amounted to $X per unit, with an increase of 18% against the previous year. Overall, the export price, however, continues to indicate a abrupt slump. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Glass Lenses Imports

Imports into Malaysia

In 2022, after two years of decline, there was significant growth in overseas purchases of spectacle lenses of glass or other materials, when their volume increased by 16% to X units. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 27% against the previous year. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, spectacle glass lenses imports rose modestly to $X in 2022. The total import value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 28%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest spectacle glass lenses supplier to Malaysia, accounting for a 60% share of total imports. Moreover, spectacle glass lenses imports from China exceeded the figures recorded by the second-largest supplier, the Philippines (X units), fourfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+27.6% per year) and Taiwan (Chinese) (+25.7% per year).

In value terms, China ($X), Thailand ($X) and Taiwan (Chinese) ($X) appeared to be the largest spectacle glass lenses suppliers to Malaysia, with a combined 74% share of total imports.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +30.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average spectacle glass lenses import price stood at $X per unit in 2022, which is down by -11.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 23% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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