Southern Asia: Spectacle Glass Lenses Market 2022

Spectacle Glass Lenses Market Size in Southern Asia

In 2021, the South Asian spectacle glass lenses market decreased by -7.5% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +32.7% against 2016 indices. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Spectacle Glass Lenses Production in Southern Asia

In value terms, spectacle glass lenses production declined to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +34.7% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 47%. The level of production peaked at $X in 2020, and then contracted in the following year.

Spectacle Glass Lenses Exports

Exports in Southern Asia

For the third year in a row, Southern Asia recorded decline in overseas shipments of spectacle lenses of glass or other materials, which decreased by -15.9% to X tons in 2021. Over the period under review, exports saw a deep slump. The growth pace was the most rapid in 2018 when exports increased by 16%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, spectacle glass lenses exports expanded significantly to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 12% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from India (X tons), together finishing at 99% of total export.

India was also the fastest-growing in terms of the spectacle lenses of glass or other materials exports, with a CAGR of -9.7% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest spectacle glass lenses supplier in Southern Asia.

In India, spectacle glass lenses exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, jumping by 29% against the previous year. In general, the export price recorded a buoyant expansion. The growth pace was the most rapid in 2014 when the export price increased by 40%. Over the period under review, the export prices hit record highs in 2021 and is likely to see steady growth in years to come.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +11.0% per year.

Spectacle Glass Lenses Imports

Imports in Southern Asia

In 2021, spectacle glass lenses imports in Southern Asia dropped to X tons, falling by -12.6% on the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 98% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, spectacle glass lenses imports expanded rapidly to $X in 2021. Over the period under review, imports, however, saw prominent growth. The growth pace was the most rapid in 2016 when imports increased by 30%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of spectacle glass lenses imports in 2021 were Bangladesh (X tons) and India (X tons), together resulting at 97% of total import.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +4.9%).

In value terms, India ($X) constitutes the largest market for imported spectacle lenses of glass or other materials in Southern Asia, comprising 88% of total imports. The second position in the ranking was taken by Bangladesh ($X), with an 8.2% share of total imports.

In India, spectacle glass lenses imports expanded at an average annual rate of +7.0% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, picking up by 24% against the previous year. Import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacle glass lenses import price increased by +36.7% against 2019 indices. The growth pace was the most rapid in 2016 when the import price increased by 162%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was India ($X per ton), while Bangladesh stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+7.1%).

Source: IndexBox Platform

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