Singapore: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Singapore

The Singaporean spectacle glass lenses market soared to $X in 2022, jumping by X% against the previous year. Over the period under review, consumption saw buoyant growth. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Spectacle Glass Lenses Production in Singapore

In value terms, spectacle glass lenses production totaled $X in 2022 estimated in export price. Over the period under review, production saw temperate growth. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Spectacle Glass Lenses Exports

Exports from Singapore

In 2022, overseas shipments of spectacle lenses of glass or other materials were finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, spectacle glass lenses exports expanded remarkably to $X in 2022. Over the period under review, exports, however, faced a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X units), Malaysia (X units) and India (X units) were the main destinations of spectacle glass lenses exports from Singapore, together comprising X% of total exports. China, France, Hong Kong SAR, the United States, Taiwan (Chinese), Italy, Germany, the Philippines and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X) emerged as the key foreign market for spectacle lenses of glass or other materials exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with an X% share of total exports. It was followed by France, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and France (X% per year).

Export Prices by Country

The average spectacle glass lenses export price stood at $X per unit in 2022, falling by X% against the previous year. In general, the export price saw a mild curtailment. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Glass Lenses Imports

Imports into Singapore

In 2022, overseas purchases of spectacle lenses of glass or other materials were finally on the rise to reach X units after two years of decline. Over the period under review, imports, however, showed a noticeable slump. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, spectacle glass lenses imports soared to $X in 2022. Overall, imports, however, saw a drastic downturn. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest spectacle glass lenses supplier to Singapore, accounting for a X% share of total imports. Moreover, spectacle glass lenses imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), threefold. The third position in this ranking was held by Malaysia (X units), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Malaysia (X% per year).

In value terms, the largest spectacle glass lenses suppliers to Singapore were China ($X), Thailand ($X) and Malaysia ($X), with a combined X% share of total imports. The Philippines, Japan, Germany, the United States and South Korea lagged somewhat behind, together accounting for a further X%.

Japan, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 2022, the average spectacle glass lenses import price amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the import price continues to indicate a slight downturn. The growth pace was the most rapid in 2018 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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