Vietnam: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Vietnam

The Vietnamese spectacle glass lenses market dropped dramatically to $X in 2022, waning by X% against the previous year. In general, consumption saw a precipitous decline. Spectacle glass lenses consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Spectacle Glass Lenses Production in Vietnam

In value terms, spectacle glass lenses production expanded remarkably to $X in 2022 estimated in export price. Overall, production, however, saw a noticeable decrease. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Spectacle Glass Lenses Exports

Exports from Vietnam

In 2022, exports of spectacle lenses of glass or other materials from Vietnam skyrocketed to X units, increasing by X% against 2021 figures. In general, exports saw strong growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, spectacle glass lenses exports rose significantly to $X in 2022. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Thailand (X units) was the main destination for spectacle glass lenses exports from Vietnam, accounting for a X% share of total exports. Moreover, spectacle glass lenses exports to Thailand exceeded the volume sent to the second major destination, South Korea (X units), fourfold. The third position in this ranking was taken by the United States (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and the United States (X% per year).

In value terms, Thailand ($X) remains the key foreign market for spectacle lenses of glass or other materials exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with an X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Thailand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average spectacle glass lenses export price amounted to $X per unit, waning by X% against the previous year. In general, the export price saw a perceptible descent. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were the Philippines ($X per unit) and the United States ($X per unit), while the average price for exports to Hungary ($X per unit) and South Korea ($X per unit) were 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 a decline.

Spectacle Glass Lenses Imports

Imports into Vietnam

In 2022, approx. X units of spectacle lenses of glass or other materials were imported into Vietnam; waning by X% compared with the previous year. Over the period under review, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, spectacle glass lenses imports soared to $X in 2022. Overall, imports, however, saw a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest spectacle glass lenses supplier to Vietnam, with a X% share of total imports. Moreover, spectacle glass lenses imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), twofold. Thailand (X units) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X) constituted the largest supplier of spectacle lenses of glass or other materials to Vietnam, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

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

Import Prices by Country

In 2022, the average spectacle glass lenses import price amounted to $X per unit, picking up by X% against the previous year. Overall, the import price enjoyed a measured increase. The growth pace was the most rapid in 2020 an increase of X%. The import price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Philippines ($X per unit) and Japan ($X per unit), while the price for China ($X per unit) and South Korea ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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