Spectacle Plastic Frame Market

The article discusses the increasing demand for plastic frames and mountings for spectacles and goggles worldwide. It projects a positive trend in market performance with an anticipated CAGR of +3.0% in consumption and +6.0% in value from 2022 to 2030. Consumption increased in 2022, with notable growth in countries like China, the United States, and India. Production, imports, and exports also saw varying trends over the past decade. Key players in the market include China, the United States, and Hong Kong SAR. The article provides insights into consumption patterns, production volumes, import and export trends, and average prices in the global market for spectacle plastic frames.

Market Forecast

Driven by increasing demand for plastic frames and mountings for spectacles and goggles worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 451M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market value to $6.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Plastic Frames And Mountings For Spectacles And Goggles

In 2022, consumption of plastic frames and mountings for spectacles and goggles increased by 9.5% to 355M units, rising for the third consecutive year after two years of decline. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +37.3% against 2019 indices. Global consumption peaked in 2022 and is likely to see gradual growth in the near future.

The global spectacle plastic frame market value rose to $4.1B in 2022, surging by 3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +32.6% against 2020 indices. Over the period under review, the global market reached the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (60M units), the United States (59M units) and India (38M units), with a combined 45% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by India (with a CAGR of +25.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($676M), China ($616M) and France ($247M) appeared to be the countries with the highest levels of market value in 2022, with a combined 37% share of the global market. Italy, Bangladesh, Japan, Brazil, Germany, the Philippines, Hong Kong SAR, Mexico, India and Russia lagged somewhat behind, together comprising a further 22%.

India, with a CAGR of +25.3%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of spectacle plastic frame per capita consumption was registered in Hong Kong SAR (1,074 units per 1000 persons), followed by Italy (207 units per 1000 persons), France (189 units per 1000 persons) and the United States (177 units per 1000 persons), while the world average per capita consumption of spectacle plastic frame was estimated at 45 units per 1000 persons.

In Hong Kong SAR, spectacle plastic frame per capita consumption contracted by an average annual rate of -4.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (-1.9% per year) and France (+7.7% per year).

Production

World Production of Plastic Frames And Mountings For Spectacles And Goggles

In 2022, production of plastic frames and mountings for spectacles and goggles increased by 0.6% to 211M units, rising for the third year in a row after two years of decline. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 24% against the previous year. Over the period under review, global production attained the maximum volume at 318M units in 2017; however, from 2018 to 2022, production remained at a lower figure.

In value terms, spectacle plastic frame production fell modestly to $2.9B in 2022 estimated in export price. In general, the total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +19.1% against 2018 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 61% against the previous year. Over the period under review, global production reached the peak level at $3.9B in 2017; however, from 2018 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of spectacle plastic frame production was China (111M units), accounting for 53% of total volume. Moreover, spectacle plastic frame production in China exceeded the figures recorded by the second-largest producer, Hong Kong SAR (23M units), fivefold. The third position in this ranking was taken by Bangladesh (11M units), with a 5% share.

In China, spectacle plastic frame production declined by an average annual rate of -1.1% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Hong Kong SAR (+1.6% per year) and Bangladesh (+5.8% per year).

Imports

World Imports of Plastic Frames And Mountings For Spectacles And Goggles

In 2022, overseas purchases of plastic frames and mountings for spectacles and goggles increased by 7.2% to 327M units, rising for the second consecutive year after two years of decline. Overall, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 34%. Over the period under review, global imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, spectacle plastic frame imports rose slightly to $3.5B in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 36%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports By Country

In 2022, the United States (68M units), distantly followed by India (39M units), Hong Kong SAR (36M units), Italy (29M units) and Japan (15M units) represented the main importers of plastic frames and mountings for spectacles and goggles, together comprising 57% of total imports. Germany (14M units), France (13M units), the Netherlands (13M units), the UK (7.3M units), Spain (6.8M units), Thailand (6.8M units), Mexico (6.5M units) and Russia (5.9M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +24.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($782M) constitutes the largest market for imported plastic frames and mountings for spectacles and goggles worldwide, comprising 22% of global imports. The second position in the ranking was held by Hong Kong SAR ($370M), with an 11% share of global imports. It was followed by Italy, with a 9.6% share.

In the United States, spectacle plastic frame imports increased at an average annual rate of +7.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (+10.7% per year) and Italy (+3.4% per year).

Import Prices By Country

The average spectacle plastic frame import price stood at $11 per unit in 2022, waning by -2.7% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 5.2%. As a result, import price attained the peak level of $11 per unit. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($18 per unit), while India ($1.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+11.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Plastic Frames And Mountings For Spectacles And Goggles

In 2022, global exports of plastic frames and mountings for spectacles and goggles reduced slightly to 183M units, dropping by -3.9% compared with 2021. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 19%. Over the period under review, the global exports attained the maximum at 307M units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, spectacle plastic frame exports rose notably to $3.4B in 2022. In general, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +47.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37%. The global exports peaked in 2022 and are likely to see steady growth in the near future.

Exports By Country

In 2022, China (53M units) and Hong Kong SAR (51M units) represented the largest exporters of plastic frames and mountings for spectacles and gogglesacross the globe, together accounting for approx. 57% of total exports. Italy (24M units) ranks next in terms of the total exports with a 13% share, followed by the United States (4.7%). The following exporters - the Netherlands (6.9M units), Germany (6M units) and Thailand (4M units) - together made up 9.2% of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +32.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest spectacle plastic frame supplying countries worldwide were China ($969M), Italy ($869M) and Hong Kong SAR ($571M), together comprising 71% of global exports. The United States, the Netherlands, Germany and Thailand lagged somewhat behind, together accounting for a further 11%.

In terms of the main exporting countries, Thailand, with a CAGR of +27.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average spectacle plastic frame export price amounted to $19 per unit, rising by 12% against the previous year. Overall, the export price saw a remarkable increase. The pace of growth was the most pronounced in 2018 an increase of 37%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($36 per unit), while Hong Kong SAR ($11 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.4%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform