Vietnam: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in Vietnam

In 2021, after three years of decline, there was significant growth in the Vietnamese spectacle plastic frame market, when its value increased by 15% to $X. In general, consumption continues to indicate a buoyant increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Spectacle Plastic Frame Production in Vietnam

In value terms, spectacle plastic frame production soared to $X in 2021 estimated in export price. Over the period under review, production recorded a prominent increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by 30% against the previous year. Spectacle plastic frame production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Spectacle Plastic Frame Exports

Exports from Vietnam

In 2021, approx. X units of plastic frames and mountings for spectacles and goggles were exported from Vietnam; rising by 68% on 2020 figures. In general, exports showed a significant increase. The growth pace was the most rapid in 2015 with an increase of 194%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, spectacle plastic frame exports surged to $X in 2021. Overall, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 241% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in years to come.

Exports by Country

The UK (X units), the United States (X units) and Uzbekistan (X units) were the main destinations of spectacle plastic frame exports from Vietnam, with a combined 62% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uzbekistan (with a CAGR of +10,547.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spectacle plastic frame exported from Vietnam were the UK ($X), the United States ($X) and Uzbekistan ($X), together comprising 62% of total exports.

Uzbekistan, with a CAGR of +10,623.5%, recorded the highest growth rate of 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

The average spectacle plastic frame export price stood at $X per unit in 2021, approximately equating the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2014 an increase of 19%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the countries with the highest prices were India ($X per unit) and Uzbekistan ($X per unit), while the average price for exports to Hungary ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Plastic Frame Imports

Imports into Vietnam

In 2021, purchases abroad of plastic frames and mountings for spectacles and goggles decreased by -17.1% to X units, falling for the third year in a row after five years of growth. In general, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2016 when imports increased by 75% against the previous year. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, spectacle plastic frame imports dropped significantly to $X in 2021. Overall, imports, however, saw a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by 75% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X units), China (X units) and Italy (X units) were the main suppliers of spectacle plastic frame imports to Vietnam, together accounting for 94% of total imports. These countries were followed by Japan, which accounted for a further 2.6%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +13.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest spectacle plastic frame suppliers to Vietnam were South Korea ($X), China ($X) and Italy ($X), with a combined 94% share of total imports. These countries were followed by Japan, which accounted for a further 2.6%.

Japan, with a CAGR of +19.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average spectacle plastic frame import price amounted to $X per unit, growing by 2.4% against the previous year. Overall, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the average import price increased by 45%. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Japan ($X per unit) and Italy ($X per unit), while the price for China ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :