Uruguay: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in Uruguay

The Uruguayan spectacle plastic frame market rose rapidly to $X in 2021, picking up by 6.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -19.2% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Spectacle Plastic Frame Exports

Exports from Uruguay

In 2021, after three years of decline, there was significant growth in shipments abroad of plastic frames and mountings for spectacles and goggles, when their volume increased by 220% to X units. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 2,319%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, spectacle plastic frame exports skyrocketed to $X in 2021. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 670%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Chile (X units) was the main destination for spectacle plastic frame exports from Uruguay, accounting for a 68% share of total exports. Moreover, spectacle plastic frame exports to Chile exceeded the volume sent to the second major destination, Guatemala (X units), threefold. The third position in this ranking was taken by Paraguay (X units), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume to Chile amounted to +198.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (0.0% per year) and Paraguay (+52.1% per year).

In value terms, the largest markets for spectacle plastic frame exported from Uruguay were Chile ($X), Guatemala ($X) and Paraguay ($X), together comprising 96% of total exports.

Chile, with a CAGR of +119.4%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average spectacle plastic frame export price amounted to $X per unit, surging by 7.9% against the previous year. Overall, the export price, however, continues to indicate a abrupt contraction. The growth pace was the most rapid in 2019 when the average export price increased by 64%. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Guatemala ($X per unit), while the average price for exports to Spain ($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 Brazil (+39.6%), while the prices for the other major destinations experienced mixed trend patterns.

Spectacle Plastic Frame Imports

Imports into Uruguay

In 2021, overseas purchases of plastic frames and mountings for spectacles and goggles decreased by -19.6% to X units, falling for the third year in a row after three years of growth. Over the period under review, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -28.7% against 2018 indices. The pace of growth was the most pronounced in 2013 when imports increased by 40% against the previous year. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, spectacle plastic frame imports surged to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.9% against 2017 indices. The pace of growth appeared the most rapid in 2013 with an increase of 54%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of spectacle plastic frame to Uruguay, with a 81% share of total imports. Moreover, spectacle plastic frame imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold. Italy (X units) ranked third in terms of total imports with a 1.9% share.

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: Hong Kong SAR (-8.7% per year) and Italy (+1.4% per year).

In value terms, China ($X) constituted the largest supplier of plastic frames and mountings for spectacles and goggles to Uruguay, comprising 58% of total imports. The second position in the ranking was held by Italy ($X), with a 7.3% share of total imports. It was followed by the United States, with a 0.8% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+4.7% per year) and the United States (-10.0% per year).

Import Prices by Country

The average spectacle plastic frame import price stood at $X per unit in 2021, rising by 68% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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