United Kingdom: Prisms And Mirrors Market 2024

Prisms And Mirrors Market Size in the UK

In 2022, the UK prisms and mirrors market increased by 8.8% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption enjoyed a resilient expansion. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Prisms And Mirrors Production in the UK

In value terms, prisms and mirrors production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2013 when the production volume increased by 18% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Prisms And Mirrors Exports

Exports from the UK

In 2022, overseas shipments of prisms and mirrors decreased by -11.2% to X tons, falling for the fourth consecutive year after four years of growth. In general, exports saw a pronounced curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 57%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, prisms and mirrors exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 32%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Italy (X tons) and France (X tons) were the main destinations of prisms and mirrors exports from the UK, together comprising 52% of total exports. The United States, the Netherlands, Switzerland, Ireland and Poland lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +17.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for prisms and mirrors exported from the UK were Germany ($X), the United States ($X) and France ($X), together comprising 58% of total exports. Italy, Switzerland, the Netherlands, Ireland and Poland lagged somewhat behind, together comprising a further 11%.

Ireland, with a CAGR of +11.5%, 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

In 2022, the average prisms and mirrors export price amounted to $X per ton, growing by 21% against the previous year. Over the period under review, the export price saw a resilient increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 94%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Prisms And Mirrors Imports

Imports into the UK

In 2022, supplies from abroad of prisms and mirrors increased by 28% to X tons, rising for the second year in a row after two years of decline. In general, imports showed a notable expansion. The growth pace was the most rapid in 2015 when imports increased by 55%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, prisms and mirrors imports reached $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +19.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 17%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of prisms and mirrors to the UK, with a 47% share of total imports. Moreover, prisms and mirrors imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.4% per year) and Germany (-4.4% per year).

In value terms, the largest prisms and mirrors suppliers to the UK were the United States ($X), China ($X) and Germany ($X), together accounting for 65% of total imports. France, South Korea, Poland, Hong Kong SAR, Spain, Belgium, India, Finland and the Czech Republic lagged somewhat behind, together comprising a further 6.3%.

Poland, with a CAGR of +147.3%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average prisms and mirrors import price stood at $X per ton in 2022, with a decrease of -20.6% against the previous year. Overall, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prisms and mirrors import price decreased by -26.1% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of 62%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 China ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :