Southern Asia: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in Southern Asia

The South Asian spectacle plastic frame market was finally on the rise to reach $X in 2021, after three years of decline. In general, consumption enjoyed a prominent expansion. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Spectacle Plastic Frame Production in Southern Asia

In value terms, spectacle plastic frame production rose notably to $X in 2021 estimated in export price. In general, production, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 89%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Spectacle Plastic Frame Exports

Exports in Southern Asia

In 2021, the amount of plastic frames and mountings for spectacles and goggles exported in Southern Asia surged to X units, rising by 139% compared with 2020. In general, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, spectacle plastic frame exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 107%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Bangladesh was the major exporting country with an export of around X units, which recorded 72% of total exports. It was distantly followed by India (X units), committing a 28% share of total exports.

Bangladesh was also the fastest-growing in terms of the plastic frames and mountings for spectacles and goggles exports, with a CAGR of +54.8% from 2012 to 2021. At the same time, India (+6.8%) displayed positive paces of growth. While the share of Bangladesh (+64 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-63.5 p.p.) displayed negative dynamics.

In value terms, Bangladesh ($X) remains the largest spectacle plastic frame supplier in Southern Asia, comprising 84% of total exports. The second position in the ranking was taken by India ($X), with a 16% share of total exports.

In Bangladesh, spectacle plastic frame exports expanded at an average annual rate of +43.1% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2021, with a decrease of -36.6% against the previous year. Over the period under review, the export price, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2014 an increase of 178% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Bangladesh ($X per unit), while India amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.9%).

Spectacle Plastic Frame Imports

Imports in Southern Asia

In 2021, approx. X units of plastic frames and mountings for spectacles and goggles were imported in Southern Asia; rising by 51% on the previous year's figure. Over the period under review, imports saw a resilient increase. The pace of growth appeared the most rapid in 2015 when imports increased by 131% against the previous year. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, spectacle plastic frame imports surged to $X in 2021. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 80%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

India dominates imports structure, accounting for X units, which was near 95% of total imports in 2021. Sri Lanka (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to spectacle plastic frame imports into India stood at +9.1%. At the same time, Sri Lanka (+45.3%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +45.3% from 2012-2021. While the share of Sri Lanka (+2.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported plastic frames and mountings for spectacles and goggles in Southern Asia, comprising 78% of total imports. The second position in the ranking was held by Sri Lanka ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual growth rate of value in India totaled +20.0%.

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2021, increasing by 19% against the previous year. In general, the import price saw a strong increase. The most prominent rate of growth was recorded in 2013 an increase of 37%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Sri Lanka ($X per unit), while India amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+10.0%).

Source: IndexBox Platform

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