Asia: Spectacle Plastic Frame Market 2023

Spectacle Plastic Frame Market Size in Asia

In 2021, the Asian spectacle plastic frame market decreased by -1.6% to $X, falling for the fourth consecutive year after six years of growth. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.6% against 2017 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Spectacle Plastic Frame Production in Asia

In value terms, spectacle plastic frame production rose slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 91% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Spectacle Plastic Frame Exports

Exports in Asia

In 2021, shipments abroad of plastic frames and mountings for spectacles and goggles increased by 31% to X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 188%. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, spectacle plastic frame exports surged to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Hong Kong SAR (X units) represented the largest exporter of plastic frames and mountings for spectacles and goggles, making up 59% of total exports. It was distantly followed by China (X units), generating a 28% share of total exports. South Korea (X units), Thailand (X units) and Turkey (X units) followed a long way behind the leaders.

Exports from Hong Kong SAR increased at an average annual rate of +3.1% from 2012 to 2021. At the same time, Thailand (+30.5%), Turkey (+27.0%) and South Korea (+8.5%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +30.5% from 2012-2021. By contrast, China (-13.8%) illustrated a downward trend over the same period. Hong Kong SAR (+30 p.p.), South Korea (+2.7 p.p.) and Thailand (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -40.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest spectacle plastic frame supplying countries in Asia were China ($X), Hong Kong SAR ($X) and South Korea ($X), together comprising 92% of total exports. These countries were followed by Thailand and Turkey, which together accounted for a further 1.7%.

In terms of the main exporting countries, Thailand, with a CAGR of +21.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, growing by 5% against the previous year. In general, the export price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 an increase of 221% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was China ($X per unit), while Turkey ($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 (+28.5%), while the other leaders experienced mixed trends in the export price figures.

Spectacle Plastic Frame Imports

Imports in Asia

In 2021, after two years of decline, there was significant growth in purchases abroad of plastic frames and mountings for spectacles and goggles, when their volume increased by 24% to X units. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, spectacle plastic frame imports soared to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 30%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Hong Kong SAR represented the major importing country with an import of about X units, which recorded 54% of total imports. Japan (X units) ranks second in terms of the total imports with a 15% share, followed by India (12%) and Thailand (7.7%). China (X units) took a relatively small share of total imports.

Imports into Hong Kong SAR increased at an average annual rate of +2.5% from 2012 to 2021. At the same time, Thailand (+14.9%), India (+9.1%) and Japan (+1.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +14.9% from 2012-2021. By contrast, China (-4.1%) illustrated a downward trend over the same period. Thailand (+4.8 p.p.) and India (+4.7 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR, China and Japan saw its share reduced by -2.2%, -2.6% and -2.8% from 2012 to 2021, respectively.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported plastic frames and mountings for spectacles and goggles in Asia, comprising 50% of total imports. The second position in the ranking was taken by Japan ($X), with a 14% share of total imports. It was followed by Thailand, with an 8% share.

In Hong Kong SAR, spectacle plastic frame imports expanded at an average annual rate of +13.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+1.0% per year) and Thailand (+12.6% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, increasing by 4.7% against the previous year. Over the last nine years, it increased at an average annual rate of +5.3%. The pace of growth appeared the most rapid in 2013 an increase of 14%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while India ($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 (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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