Myanmar: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in Myanmar

The Myanmar's spectacle plastic frame market soared to $X in 2021, increasing by 22% against the previous year. Over the period under review, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -42.8% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Spectacle Plastic Frame Production in Myanmar

In value terms, spectacle plastic frame production surged to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 35% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Spectacle Plastic Frame Exports

Exports from Myanmar

In 2021, after two years of growth, there was significant decline in overseas shipments of plastic frames and mountings for spectacles and goggles, when their volume decreased by -44.2% to X units. Over the period under review, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 882% against the previous year. As a result, the exports attained the peak of X units, and then dropped notably in the following year.

In value terms, spectacle plastic frame exports declined significantly to $X in 2021. Overall, exports saw a perceptible contraction. The pace of growth was the most pronounced in 2020 with an increase of 798% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam (X units) was the main destination for spectacle plastic frame exports from Myanmar, accounting for a 92% share of total exports. Moreover, spectacle plastic frame exports to Vietnam exceeded the volume sent to the second major destination, New Zealand (X units), more than tenfold.

From 2015 to 2021, the average annual rate of growth in terms of volume to Vietnam stood at +1,016.4%.

In value terms, Vietnam ($X) remains the key foreign market for plastic frames and mountings for spectacles and goggles exports from Myanmar, comprising 95% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 5% share of total exports.

From 2015 to 2021, the average annual growth rate of value to Vietnam stood at -29.4%.

Export Prices by Country

The average spectacle plastic frame export price stood at $X per unit in 2021, rising by 26% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt curtailment. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Vietnam ($X per unit), while the average price for exports to New Zealand stood at $X per unit.

From 2015 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.6%).

Spectacle Plastic Frame Imports

Imports into Myanmar

In 2021, the amount of plastic frames and mountings for spectacles and goggles imported into Myanmar soared to X units, picking up by 202% compared with the year before. Overall, imports recorded significant growth. Imports peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, spectacle plastic frame imports surged to $X in 2021. In general, imports showed significant growth. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Hong Kong SAR (X units) constituted the largest spectacle plastic frame supplier to Myanmar, accounting for a 29% share of total imports. Moreover, spectacle plastic frame imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. Turkey (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Hong Kong SAR totaled +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.3% per year) and Turkey (0.0% per year).

In value terms, Italy ($X), Hong Kong SAR ($X) and South Korea ($X) constituted the largest spectacle plastic frame suppliers to Myanmar, with a combined 59% share of total imports.

South Korea, with a CAGR of +24.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average spectacle plastic frame import price amounted to $X per unit, rising by 5.6% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 36%. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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