Middle East: Spectacle Glass Lenses Market 2022

Spectacle Glass Lenses Market Size in the Middle East

In 2021, the Middle Eastern spectacle glass lenses market increased by 41% to $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Spectacle Glass Lenses Production in the Middle East

In value terms, spectacle glass lenses production skyrocketed to $X in 2021 estimated in export price. Overall, production enjoyed a modest expansion. The pace of growth was the most pronounced in 2015 with an increase of 47%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Spectacle Glass Lenses Exports

Exports in the Middle East

In 2021, shipments abroad of spectacle lenses of glass or other materials increased by 22% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 62% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, spectacle glass lenses exports soared to $X in 2021. Total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the United Arab Emirates (X tons) represented the key exporter of spectacle lenses of glass or other materials, mixing up 71% of total exports. Israel (X tons) took the second position in the ranking, distantly followed by Turkey (X tons). All these countries together held near 27% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the spectacle lenses of glass or other materials exports, with a CAGR of +22.5% from 2012 to 2021. At the same time, Turkey (+9.3%) displayed positive paces of growth. By contrast, Israel (-14.8%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+60 p.p.) and Turkey (+3.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Israel (-63.3 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X), Israel ($X) and Turkey ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 99% share of total exports.

Among the main exporting countries, the United Arab Emirates, with a CAGR of +37.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, with an increase of 32% against the previous year. Export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacle glass lenses export price decreased by -13.0% against 2019 indices. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.3%), while the other leaders experienced mixed trends in the export price figures.

Spectacle Glass Lenses Imports

Imports in the Middle East

In 2021, approx. X tons of spectacle lenses of glass or other materials were imported in the Middle East; growing by 33% compared with the previous year's figure. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% 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 +71.4% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, spectacle glass lenses imports surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.5% 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

Turkey (X tons) and the United Arab Emirates (X tons) represented roughly 54% of total imports in 2021. It was distantly followed by Saudi Arabia (X tons), Palestine (X tons), Iran (X tons) and Israel (X tons), together achieving a 40% share of total imports.

From 2012 to 2021, the biggest increases were in the United Arab Emirates (with a CAGR of +23.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Iran ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 65% share of total imports. Israel, Saudi Arabia and Palestine lagged somewhat behind, together accounting for a further 29%.

Saudi Arabia, with a CAGR of +15.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, reducing by -2.3% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 14%. Over the period under review, import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+8.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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