Philippines: Mounted Objective Lens Market 2025

Mounted Objective Lens Market Size in the Philippines

The Philippine mounted objective lens market contracted markedly to $X in 2022, shrinking by -99.5% against the previous year. In general, consumption recorded a sharp downturn. As a result, consumption attained the peak level of $X, and then contracted markedly in the following year.

Mounted Objective Lens Production in the Philippines

In value terms, mounted objective lens production surged to $X in 2022 estimated in export price. In general, production showed buoyant growth. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Mounted Objective Lens Exports

Exports from the Philippines

Mounted objective lens exports from the Philippines surged to X units in 2022, growing by 205% compared with 2021. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 532%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, mounted objective lens exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt decrease. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for mounted objective lens exports from the Philippines, accounting for a 15% share of total exports. Moreover, mounted objective lens exports to China exceeded the volume sent to the second major destination, Japan (X units), fivefold. The third position in this ranking was taken by Germany (X units), with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at -10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+3.1% per year) and Germany (+21.5% per year).

In value terms, China ($X) remains the key foreign market for mounted objective lenses exports from the Philippines, comprising 216% of total exports. The second position in the ranking was held by Germany ($X), with a 76% share of total exports. It was followed by Japan, with a 68% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to -12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+29.7% per year) and Japan (+7.7% per year).

Export Prices by Country

In 2021, the average mounted objective lens export price amounted to $X per unit, rising by 47% against the previous year. In general, the export price, however, continues to indicate a precipitous slump. The most prominent rate of growth was recorded in 2013 an increase of 60%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to China ($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 Hong Kong SAR (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Mounted Objective Lens Imports

Imports into the Philippines

In 2022, approx. X units of mounted objective lenses were imported into the Philippines; which is down by -24.8% against 2021 figures. Overall, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2015 with an increase of 171%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, mounted objective lens imports reduced to $X in 2022. In general, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2016 when imports increased by 164%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest mounted objective lens supplier to the Philippines, with a 13% share of total imports. Moreover, mounted objective lens imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), threefold. Japan (X units) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +39.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+21.8% per year) and Japan (+40.3% per year).

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) constituted the largest mounted objective lens suppliers to the Philippines, with a combined 66% share of total imports. Hong Kong SAR, Germany, Thailand, South Korea and Singapore lagged somewhat behind, together accounting for a further 29%.

Thailand, with a CAGR of +98.6%, recorded the highest growth rate of 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

The average mounted objective lens import price stood at $X per unit in 2021, declining by -27.3% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 45%. Over the period under review, average import prices hit record highs at $X per unit 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 supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+13.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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