U.S.: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in the U.S.

For the third consecutive year, the U.S. spectacle glass lenses market recorded growth in sales value, which increased by 6.6% to $X in 2022. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Spectacle glass lenses consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Spectacle Glass Lenses Production in the U.S.

In value terms, spectacle glass lenses production expanded notably to $X in 2022. Overall, production, however, showed a deep downturn. The growth pace was the most rapid in 2020 when the production volume increased by 55% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Spectacle Glass Lenses Exports

Exports from the U.S.

In 2022, approx. X units of spectacle lenses of glass or other materials were exported from the United States; falling by -12.5% against the previous year. Over the period under review, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 33%. As a result, the exports attained the peak of X units, and then shrank in the following year.

In value terms, spectacle glass lenses exports rose to $X in 2022. In general, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 36% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Mexico (X units) was the main destination for spectacle glass lenses exports from the United States, with a 59% share of total exports. Moreover, spectacle glass lenses exports to Mexico exceeded the volume sent to the second major destination, Australia (X units), ninefold. The third position in this ranking was taken by the UK (X units), with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico stood at +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+21.7% per year) and the UK (+25.9% per year).

In value terms, Mexico ($X) remains the key foreign market for spectacle lenses of glass or other materials exports from the United States, comprising 52% of total exports. The second position in the ranking was held by Canada ($X), with a 12% share of total exports. It was followed by Thailand, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value to Mexico totaled +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-2.2% per year) and Thailand (-3.0% per year).

Export Prices by Country

In 2022, the average spectacle glass lenses export price amounted to $X per unit, surging by 19% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced shrinkage. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Australia ($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 Canada (+9.6%), while the prices for the other major destinations experienced mixed trend patterns.

Spectacle Glass Lenses Imports

Imports into the U.S.

Spectacle glass lenses imports into the United States shrank to X units in 2022, declining by -14% compared with the previous year. In general, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 72%. Over the period under review, imports reached the maximum at X units in 2021, and then reduced in the following year.

In value terms, spectacle glass lenses imports amounted to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +8.1% 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 +60.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 47% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Mexico (X units), Lao People's Democratic Republic (X units) and China (X units) were the main suppliers of spectacle glass lenses imports to the United States, together accounting for 66% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lao People's Democratic Republic (with a CAGR of +140.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of spectacle lenses of glass or other materials to the United States, comprising 40% of total imports. The second position in the ranking was taken by Thailand ($X), with a 15% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+6.9% per year) and China (+8.0% per year).

Import Prices by Country

In 2022, the average spectacle glass lenses import price amounted to $X per unit, increasing by 28% against the previous year. Overall, the import price, however, recorded a pronounced slump. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per unit), while the price for Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+9.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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