South-Eastern Asia: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in South-Eastern Asia

After three years of decline, the Southeast Asian spectacles and goggles market increased by 2.4% to $X in 2021. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Spectacles And Goggles Production in South-Eastern Asia

In value terms, spectacles and goggles production rose sharply to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 136%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Spectacles And Goggles Exports

Exports in South-Eastern Asia

In 2021, spectacles and goggles exports in South-Eastern Asia rose markedly to X units, growing by 5.5% compared with 2020. In general, exports, however, continue to indicate a pronounced setback. The pace of growth appeared the most rapid in 2015 with an increase of 59%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, spectacles and goggles exports skyrocketed to $X in 2021. Total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 25%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand represented the main exporter of spectacles and goggles in South-Eastern Asia, with the volume of exports resulting at X units, which was near 53% of total exports in 2021. Malaysia (X units) ranks second in terms of the total exports with a 29% share, followed by Singapore (7.5%) and Vietnam (6.7%). The following exporters - Indonesia (X units) and Cambodia (X units) - each recorded a 3.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Cambodia (with a CAGR of +23.1%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the largest spectacles and goggles supplier in South-Eastern Asia, comprising 69% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total exports. It was followed by Vietnam, with a 6.9% share.

In Thailand, spectacles and goggles exports increased at an average annual rate of +3.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (-8.1% per year) and Vietnam (+34.5% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per unit, with an increase of 17% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the export price increased by 73% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Indonesia ($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 (+11.8%), while the other leaders experienced more modest paces of growth.

Spectacles And Goggles Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of spectacles and goggles decreased by -21.7% to X units, falling for the third consecutive year after two years of growth. Total imports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -36.3% against 2018 indices. The growth pace was the most rapid in 2015 with an increase of 49%. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, spectacles and goggles imports shrank to $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 60% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Thailand represented the main importing country with an import of around X units, which recorded 57% of total imports. It was distantly followed by Malaysia (X units), Singapore (X units), the Philippines (X units), Vietnam (X units) and Indonesia (X units), together mixing up a 39% share of total imports. Myanmar (X units) followed a long way behind the leaders.

Imports into Thailand increased at an average annual rate of +3.8% from 2012 to 2021. At the same time, Myanmar (+55.5%), the Philippines (+6.8%) and Vietnam (+5.5%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +55.5% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, Indonesia (-5.3%) and Malaysia (-6.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand, the Philippines, Myanmar and Vietnam increased by +11, +2.8, +2.6 and +2.1 percentage points, respectively.

In value terms, Indonesia ($X), Thailand ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 59% of total imports. These countries were followed by Vietnam, Malaysia, Myanmar and the Philippines, which together accounted for a further 34%.

In terms of the main importing countries, Myanmar, with a CAGR of +71.3%, saw the highest rates of growth with regard to 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 import price in South-Eastern Asia amounted to $X per unit, with an increase of 11% against the previous year. Over the period under review, the import price, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2019 when the import price increased by 24% against the previous year. The level of import peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+10.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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