South-Eastern Asia: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in South-Eastern Asia

In 2021, after three years of decline, there was significant growth in the Southeast Asian spectacle plastic frame market, when its value increased by 14% to $X. The total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% 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 -27.1% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Spectacle Plastic Frame Production in South-Eastern Asia

In value terms, spectacle plastic frame production skyrocketed to $X in 2021 estimated in export price. The total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -26.3% against 2017 indices. The pace of growth was the most pronounced in 2017 with an increase of 27%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Spectacle Plastic Frame Exports

Exports in South-Eastern Asia

Spectacle plastic frame exports skyrocketed to X units in 2021, growing by 72% against 2020. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 158% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, spectacle plastic frame exports surged to $X in 2021. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 245% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand was the major exporter of plastic frames and mountings for spectacles and goggles in South-Eastern Asia, with the volume of exports finishing at X units, which was near 67% of total exports in 2021. The Philippines (X units) ranks second in terms of the total exports with a 24% share, followed by Vietnam (7%).

Exports from Thailand increased at an average annual rate of +30.5% from 2012 to 2021. At the same time, the Philippines (+136.1%) and Vietnam (+38.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +136.1% from 2012-2021. While the share of the Philippines (+24 p.p.), Thailand (+15 p.p.) and Vietnam (+3.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), the Philippines ($X) and Vietnam ($X) constituted the countries with the highest levels of exports in 2021, with a combined 96% share of total exports.

The Philippines, with a CAGR of +141.3%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, increasing by 20% against the previous year. In general, the export price, however, recorded a mild slump. The pace of growth was the most pronounced in 2013 an increase of 34%. The level of export peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Spectacle Plastic Frame Imports

Imports in South-Eastern Asia

In 2021, the amount of plastic frames and mountings for spectacles and goggles imported in South-Eastern Asia expanded remarkably to X units, surging by 14% on 2020. Overall, imports posted a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 73% against the previous year. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, spectacle plastic frame imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 54% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Thailand dominates imports structure, finishing at X units, which was near 74% of total imports in 2021. It was distantly followed by the Philippines (X units), Indonesia (X units), Singapore (X units) and Malaysia (X units), together comprising a 23% share of total imports. Vietnam (X units) took a little share of total imports.

Imports into Thailand increased at an average annual rate of +14.9% from 2012 to 2021. At the same time, the Philippines (+43.0%), Indonesia (+30.8%) and Vietnam (+9.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +43.0% from 2012-2021. By contrast, Malaysia (-2.7%) and Singapore (-13.9%) illustrated a downward trend over the same period. Thailand (+33 p.p.), the Philippines (+5.7 p.p.) and Indonesia (+4.9 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Singapore saw its share reduced by -7.1% and -37.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported plastic frames and mountings for spectacles and goggles in South-Eastern Asia, comprising 66% of total imports. The second position in the ranking was taken by Singapore ($X), with a 13% share of total imports. It was followed by Indonesia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand totaled +12.6%. In the other countries, the average annual rates were as follows: Singapore (-3.7% per year) and Indonesia (+27.9% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2021, picking up by 6.4% against the previous year. Import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.0% 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 plastic frame import price decreased by -28.3% against 2019 indices. The growth pace was the most rapid in 2014 when the import price increased by 40% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+14.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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