Bangladesh: Mounted Lens Market 2022

Mounted Lens Market Size in Bangladesh

The Bangladeshi mounted lens market expanded remarkably to $X in 2021, surging by 9.6% against the previous year. In general, consumption posted a resilient expansion. Mounted lens consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Mounted Lens Production in Bangladesh

In value terms, mounted lens production rose notably to $X in 2021 estimated in export price. In general, production enjoyed a resilient increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 48%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Mounted Lens Exports

Exports from Bangladesh

In 2021, shipments abroad of mounted lenses, prisms and mirrors increased by 78% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports posted pronounced growth. The pace of growth appeared the most rapid in 2018 with an increase of 105% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, mounted lens exports soared to $X in 2021. In general, total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -12.6% against 2019 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 74% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The Philippines (X tons) was the main destination for mounted lens exports from Bangladesh, with a 65% share of total exports. Moreover, mounted lens exports to the Philippines exceeded the volume sent to the second major destination, Thailand (X tons), sixfold. The third position in this ranking was taken by China (X tons), with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume to the Philippines totaled +123.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+26.0% per year) and China (-19.2% per year).

In value terms, Portugal ($X), Thailand ($X) and the Philippines ($X) constituted the largest markets for mounted lens exported from Bangladesh worldwide, with a combined 77% share of total exports.

The Philippines, with a CAGR of +87.4%, 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

In 2021, the average mounted lens export price amounted to $X per ton, reducing by -34.5% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 37% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Mounted Lens Imports

Imports into Bangladesh

Mounted lens imports into Bangladesh surged to X tons in 2021, rising by 78% against the previous year. Over the period under review, imports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 232%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, mounted lens imports skyrocketed to $X in 2021. Overall, imports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 191%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of mounted lens to Bangladesh, with a 63% share of total imports. Moreover, mounted lens imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X kg), eightfold. The United Arab Emirates (X kg) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +103.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+41.3% per year) and the United Arab Emirates (+47.0% per year).

In value terms, the Netherlands ($X), India ($X) and China ($X) constituted the largest mounted lens suppliers to Bangladesh, together comprising 51% of total imports. These countries were followed by the UK, the Philippines, Japan, the United Arab Emirates and South Korea, which together accounted for a further 22%.

In terms of the main suppliers, the UK, with a CAGR of +116.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mounted lens import price stood at $X per ton in 2021, waning by -24.1% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 76% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+27.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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