Thailand: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Thailand

The Thai spectacle glass lenses market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Spectacle Glass Lenses Production in Thailand

In value terms, spectacle glass lenses production declined slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 16% against the previous year. Spectacle glass lenses production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Spectacle Glass Lenses Exports

Exports from Thailand

In 2022, after two years of growth, there was significant decline in shipments abroad of spectacle lenses of glass or other materials, when their volume decreased by -5.6% to X units. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 37%. The exports peaked at X units in 2021, and then dropped in the following year.

In value terms, spectacle glass lenses exports declined slightly to $X in 2022. The total export value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 30%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank modestly in the following year.

Exports by Country

The United States (X units) was the main destination for spectacle glass lenses exports from Thailand, accounting for a 27% share of total exports. Moreover, spectacle glass lenses exports to the United States exceeded the volume sent to the second major destination, Germany (X units), twofold. The third position in this ranking was taken by France (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+5.3% per year) and France (+2.8% per year).

In value terms, the largest markets for spectacle glass lenses exported from Thailand were the United States ($X), the Netherlands ($X) and France ($X), together comprising 46% of total exports.

The Netherlands, with a CAGR of +21.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average spectacle glass lenses export price stood at $X per unit in 2022, with an increase of 2.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2019 an increase of 39%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Glass Lenses Imports

Imports into Thailand

For the third consecutive year, Thailand recorded growth in supplies from abroad of spectacle lenses of glass or other materials, which increased by 6.5% to X units in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +121.7% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 78%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, spectacle glass lenses imports reached $X in 2022. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 39%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Vietnam (X units), China (X units) and Lao People's Democratic Republic (X units) were the main suppliers of spectacle glass lenses imports to Thailand, together accounting for 72% of total imports.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +189.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), the Philippines ($X) and China ($X) appeared to be the largest spectacle glass lenses suppliers to Thailand, together comprising 64% of total imports. Mexico, Ireland, Lao People's Democratic Republic, Indonesia, the United States, Japan and France lagged somewhat behind, together comprising a further 32%.

Lao People's Democratic Republic, with a CAGR of +168.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average spectacle glass lenses import price amounted to $X per unit, declining by -5.1% against the previous year. In general, the import price showed a pronounced contraction. The pace of growth appeared the most rapid in 2019 an increase of 62% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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