Singapore: Objective Lens Market 2025

Objective Lens Market Size in Singapore

In 2021, the Singaporean objective lens market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, continues to indicate a abrupt contraction. Objective lens consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Objective Lens Production in Singapore

In value terms, objective lens production contracted dramatically to $X in 2021 estimated in export price. In general, production recorded a precipitous slump. Over the period under review, production hit record highs at $X in 2020, and then dropped rapidly in the following year.

Objective Lens Exports

Exports from Singapore

In 2021, overseas shipments of objective lenses for cameras, projectors or photographic enlargers or reducers decreased by -12.8% to X units, falling for the second year in a row after three years of growth. In general, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 166% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, objective lens exports fell remarkably to $X in 2021. Overall, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of 129% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X units) was the main destination for objective lens exports from Singapore, accounting for a 40% share of total exports. Moreover, objective lens exports to Malaysia exceeded the volume sent to the second major destination, Hong Kong SAR (X units), twofold. The third position in this ranking was held by Indonesia (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia amounted to +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+21.2% per year) and Indonesia (+12.1% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for objective lenses for cameras, projectors or photographic enlargers or reducers exports from Singapore, comprising 40% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 20% share of total exports. It was followed by Indonesia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia stood at +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+20.7% per year) and Indonesia (+11.6% per year).

Export Prices by Country

In 2021, the average objective lens export price amounted to $X per unit, dropping by -16.8% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 36% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to Brunei Darussalam ($X per unit) and China ($X per unit), while the average price for exports to Malaysia ($X per unit) and Taiwan (Chinese) ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brunei Darussalam (-0.4%), while the prices for the other major destinations experienced a decline.

Objective Lens Imports

Imports into Singapore

Objective lens imports into Singapore expanded significantly to X units in 2021, growing by 6.6% against 2020 figures. Overall, imports, however, saw a abrupt curtailment. The growth pace was the most rapid in 2019 with an increase of 72%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, objective lens imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2019 with an increase of 64% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Malaysia (X units), Japan (X units) and Germany (X units) were the main suppliers of objective lens imports to Singapore, with a combined 70% share of total imports. China, Taiwan (Chinese), Vietnam, the United Arab Emirates, the United States, South Korea and Thailand lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +30.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest objective lens suppliers to Singapore were Malaysia ($X), Japan ($X) and Germany ($X), with a combined 71% share of total imports. China, Taiwan (Chinese), Vietnam, the United States, South Korea, the United Arab Emirates and Thailand lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, South Korea, with a CAGR of +31.4%, saw the highest growth rate of 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

In 2021, the average objective lens import price amounted to $X per unit, growing by 9.9% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 13%. The import price peaked in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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