Asia: Spectacle Non-Plastic Frame Market 2023

Spectacle Non-Plastic Frame Market Size in Asia

The Asian spectacle non-plastic frame market rose rapidly to $X in 2021, growing by 7.8% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Spectacle Non-Plastic Frame Production in Asia

In value terms, spectacle non-plastic frame production rose slightly to $X in 2021 estimated in export price. In general, production, however, showed a perceptible decrease. The pace of growth was the most pronounced in 2016 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Spectacle Non-Plastic Frame Exports

Exports in Asia

In 2021, exports of non-plastic frames and mountings for spectacles and goggles in Asia soared to X units, picking up by 20% against 2020. Over the period under review, exports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 353% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, spectacle non-plastic frame exports soared to $X in 2021. The total export value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR was the largest exporting country with an export of around X units, which accounted for 56% of total exports. China (X units) ranks second in terms of the total exports with a 27% share, followed by South Korea (6.6%). Japan (X units) and Bangladesh (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to spectacle non-plastic frame exports from Hong Kong SAR stood at -3.4%. At the same time, Bangladesh (+34.0%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Asia, with a CAGR of +34.0% from 2012-2021. Japan and South Korea experienced a relatively flat trend pattern. By contrast, China (-20.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Hong Kong SAR, South Korea, Japan and Bangladesh increased by +32, +4.6, +2.4 and +1.6 percentage points, respectively.

In value terms, China ($X), Hong Kong SAR ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 91% of total exports. South Korea and Bangladesh lagged somewhat behind, together comprising a further 5%.

Bangladesh, with a CAGR of +40.2%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, rising by 10% against the previous year. Over the period under review, the export price showed strong growth. The pace of growth appeared the most rapid in 2014 when the export price increased by 346%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+31.6%), while the other leaders experienced more modest paces of growth.

Spectacle Non-Plastic Frame Imports

Imports in Asia

In 2021, spectacle non-plastic frame imports in Asia surged to X units, rising by 29% on the year before. Overall, imports posted a pronounced expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 60%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, spectacle non-plastic frame imports surged to $X in 2021. Total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X units) and Hong Kong SAR (X units) prevails in imports structure, together committing 72% of total imports. It was distantly followed by Japan (X units), constituting a 7.6% share of total imports. The following importers - Thailand (X units), China (X units), South Korea (X units), Pakistan (X units) and the Philippines (X units) - together made up 14% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +43.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported non-plastic frames and mountings for spectacles and goggles in Asia, comprising 40% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Hong Kong SAR amounted to +5.7%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-1.6% per year) and China (+5.7% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, dropping by -6.2% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by 39% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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