Philippines: Mounted Lens Market 2025

Mounted Lens Market Size in the Philippines

The Philippine mounted lens market surged to $X in 2022, growing by 61% against the previous year. Overall, consumption showed a abrupt curtailment. Mounted lens consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Mounted Lens Production in the Philippines

In value terms, mounted lens production skyrocketed to $X in 2022 estimated in export price. Overall, production recorded a abrupt decline. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Mounted Lens Exports

Exports from the Philippines

Mounted lens exports from the Philippines totaled X units in 2022, approximately mirroring the previous year's figure. Over the period under review, exports posted buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of 41% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, mounted lens exports reduced dramatically to $X in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 1,229%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Japan (X units), China (X units) and Hong Kong SAR (X units) were the main destinations of mounted lens exports from the Philippines, with a combined 91% share of total exports. Singapore, the United States and Germany lagged somewhat behind, together comprising a further 6.4%.

From 2020 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +475.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for mounted lenses, prisms and mirrors exports from the Philippines, comprising 67% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 15% share of total exports. It was followed by Singapore, with a 5.6% share.

From 2020 to 2022, the average annual rate of growth in terms of value to Japan stood at -14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-42.2% per year) and Singapore (+367.8% per year).

Export Prices by Country

The average mounted lens export price stood at $X per unit in 2022, falling by -50.3% against the previous year. Over the period under review, the export price faced a dramatic descent. The pace of growth was the most pronounced in 2021 when the average export price decreased by -9.5% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (-18.7%), while the prices for the other major destinations experienced a decline.

Mounted Lens Imports

Imports into the Philippines

In 2022, the amount of mounted lenses, prisms and mirrors imported into the Philippines skyrocketed to X units, jumping by 57% compared with the year before. Overall, imports recorded a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 197%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, mounted lens imports skyrocketed to $X in 2022. In general, imports recorded a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Taiwan (Chinese) (X units), China (X units) and Japan (X units) were the main suppliers of mounted lens imports to the Philippines, together accounting for 88% of total imports.

From 2020 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +4,610.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), China ($X) and Japan ($X) appeared to be the largest mounted lens suppliers to the Philippines, together comprising 87% of total imports.

Taiwan (Chinese), with a CAGR of +1,993.3%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2022, the average mounted lens import price amounted to $X per unit, surging by 70% against the previous year. Overall, the import price, however, faced a abrupt contraction. Over the period under review, average import prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for Malaysia ($X per unit) and Bangladesh ($X per unit) were amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-8.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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