Thailand: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Thailand

In 2021, the Thai spectacles and goggles market decreased by -10.6% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption showed a abrupt descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Spectacles And Goggles Production in Thailand

In value terms, spectacles and goggles production stood at $X in 2021 estimated in export price. In general, production, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when the production volume increased by 301% against the previous year. 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.

Spectacles And Goggles Exports

Exports from Thailand

In 2021, approx. X units of spectacles and goggles were exported from Thailand; surging by 29% on 2020 figures. In general, exports showed buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 42%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, spectacles and goggles exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 31% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for spectacles and goggles exports from Thailand, with a 72% share of total exports. Moreover, spectacles and goggles exports to the United States exceeded the volume sent to the second major destination, Australia (X units), sixfold. The UK (X units) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +28.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+8.9% per year) and the UK (-2.6% per year).

In value terms, the largest markets for spectacles and goggles exported from Thailand were the United States ($X), Australia ($X) and the UK ($X), together accounting for 79% of total exports. The Netherlands, Germany and Canada lagged somewhat behind, together accounting for a further 15%.

Among the main countries of destination, Canada, with a CAGR of +30.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average spectacles and goggles export price stood at $X per unit in 2021, which is down by -9.4% against the previous year. Overall, the export price showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by 7.4%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacles And Goggles Imports

Imports into Thailand

In 2021, purchases abroad of spectacles and goggles decreased by -19.8% to X units, falling for the third consecutive year after two years of growth. Overall, imports, however, continue to indicate a measured increase. The pace of growth was the most pronounced in 2015 when imports increased by 65%. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, spectacles and goggles imports fell to $X in 2021. Over the period under review, imports saw a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of 39% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of spectacles and goggles to Thailand, accounting for a 94% share of total imports. Moreover, spectacles and goggles imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-5.1% per year) and Malaysia (-26.1% per year).

In value terms, China ($X) constituted the largest supplier of spectacles and goggles to Thailand, comprising 67% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 16% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+0.2% per year) and Malaysia (-23.4% per year).

Import Prices by Country

In 2021, the average spectacles and goggles import price amounted to $X per unit, with an increase of 7.5% against the previous year. Over the period under review, the import price, however, showed a drastic downturn. The pace of growth was the most pronounced in 2016 when the average import price increased by 7.9% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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