Vietnam: Objective Lens Market 2025

Objective Lens Market Size in Vietnam

The Vietnamese objective lens market contracted modestly to $X in 2021, remaining stable against the previous year. Overall, consumption continues to indicate a abrupt descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Objective Lens Production in Vietnam

In value terms, objective lens production dropped markedly to $X in 2021 estimated in export price. Overall, production, however, showed a precipitous shrinkage. The pace of growth was the most pronounced in 2017 when the production volume increased by 57% against the previous year. Objective lens production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Objective Lens Exports

Exports from Vietnam

Objective lens exports from Vietnam surged to X units in 2021, jumping by 60% compared with 2020. Over the period under review, exports showed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 419%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the near future.

In value terms, objective lens exports surged to $X in 2021. In general, exports recorded prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 349%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Hong Kong SAR (X units), Japan (X units) and South Korea (X units) were the main destinations of objective lens exports from Vietnam, together accounting for 21% of total exports. Malaysia, Taiwan (Chinese), Canada, Australia, the United States, Spain, Russia, France, China and Singapore lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +61.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for objective lens exported from Vietnam were Hong Kong SAR ($X), Malaysia ($X) and Japan ($X), with a combined 29% share of total exports. South Korea, Taiwan (Chinese), Canada, Australia, the United States, Spain, China, France, Russia and Singapore lagged somewhat behind, together accounting for a further 32%.

Spain, with a CAGR of +67.5%, 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

The average objective lens export price stood at $X per unit in 2021, almost unchanged from the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2016 an increase of 30%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Singapore ($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 Malaysia (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Objective Lens Imports

Imports into Vietnam

In 2021, approx. X units of objective lenses for cameras, projectors or photographic enlargers or reducers were imported into Vietnam; which is down by -24% on the year before. Over the period under review, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2019 when imports increased by 141%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, objective lens imports reduced notably to $X in 2021. Overall, imports, however, posted strong growth. The pace of growth appeared the most rapid in 2019 with an increase of 142%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of objective lens to Vietnam, accounting for a 92% share of total imports. Moreover, objective lens imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), more than tenfold. Japan (X units) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+11.8% per year) and Japan (-2.0% per year).

In value terms, China ($X) constituted the largest supplier of objective lenses for cameras, projectors or photographic enlargers or reducers to Vietnam, comprising 92% of total imports. The second position in the ranking was held by South Korea ($X), with a 3.6% share of total imports. It was followed by Japan, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +25.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+14.9% per year) and Japan (+0.8% per year).

Import Prices by Country

In 2021, the average objective lens import price amounted to $X per unit, rising by 7.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2018 an increase of 13% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from the Philippines ($X per unit) and Thailand ($X per unit), while the price for Japan ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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