Spectacle Glass Lenses Market

The article provides a detailed analysis of the global market for spectacle lenses of glass or other materials from 2012 to 2022. It includes forecasts for the period of 2022 to 2030, covering trends in consumption, production, imports, and exports. Key highlights include the growth rates in volume and value, major consuming and producing countries, as well as trends in pricing. The data suggests a positive outlook for the market with steady growth expected in the coming years.

Market Forecast

Driven by increasing demand for spectacle lenses of glass or other materials worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market volume to 3.2B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market value to $14.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Spectacle Lenses Of Glass Or Other Materials

In 2022, the amount of spectacle lenses of glass or other materials consumed worldwide expanded markedly to 2.7B units, surging by 7% on the year before. The total consumption volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

The global spectacle glass lenses market value contracted to $10B in 2022, approximately mirroring 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). The market value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Global consumption peaked at $10.1B in 2021, and then declined modestly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (459M units), India (253M units) and the United States (236M units), together accounting for 35% of global consumption. Canada, Brazil, Japan, Italy, Indonesia, France, Germany, the UK, Turkey and Hong Kong SAR lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +13.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.1B), Canada ($1B) and Japan ($899M) were the countries with the highest levels of market value in 2022, with a combined 30% share of the global market.

In terms of the main consuming countries, Canada, with a CAGR of +11.1%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of spectacle glass lenses per capita consumption in 2022 were Canada (5.8 units per person), Hong Kong SAR (5.6 units per person) and Italy (1.7 units per person).

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +11.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Spectacle Lenses Of Glass Or Other Materials

In 2022, global production of spectacle lenses of glass or other materials surged to 3.2B units, growing by 15% on 2021. In general, the total production indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +2.5% 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 +14.0% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 57%. Over the period under review, global production reached the peak volume in 2022 and is likely to see gradual growth in years to come.

In value terms, spectacle glass lenses production contracted modestly to $10.9B in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 19% against the previous year. Over the period under review, global production hit record highs at $12.1B in 2014; however, from 2015 to 2022, production remained at a lower figure.

Production By Country

China (1.9B units) remains the largest spectacle glass lenses producing country worldwide, accounting for 60% of total volume. Moreover, spectacle glass lenses production in China exceeded the figures recorded by the second-largest producer, Canada (211M units), ninefold. Thailand (147M units) ranked third in terms of total production with a 4.5% share.

In China, spectacle glass lenses production expanded at an average annual rate of +4.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Canada (+16.0% per year) and Thailand (-0.2% per year).

Imports

World Imports of Spectacle Lenses Of Glass Or Other Materials

In 2022, supplies from abroad of spectacle lenses of glass or other materials increased by 3.3% to 2B units, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +24.9% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 21% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, spectacle glass lenses imports amounted to $7.3B in 2022. The total import value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 23%. Over the period under review, global imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports By Country

The United States (282M units) and India (207M units) represented roughly 25% of total imports in 2022. Thailand (114M units) held the next position in the ranking, followed by Italy (113M units), France (110M units), Germany (102M units), Hong Kong SAR (102M units) and Brazil (89M units). All these countries together held approx. 32% share of total imports. China (77M units), the Netherlands (56M units), Japan (55M units), the UK (54M units) and the Czech Republic (53M units) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +13.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.3B), France ($662M) and Germany ($455M) constituted the countries with the highest levels of imports in 2022, together comprising 33% of global imports. China, the Netherlands, Thailand, Italy, Hong Kong SAR, the UK, Japan, the Czech Republic, India and Brazil lagged somewhat behind, together comprising a further 34%.

China, with a CAGR of +11.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Lenses, spectacle; unmounted, of materials other than glass dominates imports structure, amounting to 1.8B units, which was near 92% of total imports in 2022. It was distantly followed by lenses, spectacle; unmounted, of glass, excluding elements of glass not optically worked (158M units), achieving an 8% share of total imports.

Lenses, spectacle; unmounted, of materials other than glass was also the fastest-growing in terms of imports, with a CAGR of +5.1% from 2012 to 2022. Lenses, spectacle; unmounted, of glass, excluding elements of glass not optically worked experienced a relatively flat trend pattern. From 2012 to 2022, the share of lenses, spectacle; unmounted, of materials other than glass increased by +4.3 percentage points.

In value terms, lenses, spectacle; unmounted, of materials other than glass ($7B) constitutes the largest type of spectacle lenses of glass or other materials imported worldwide, comprising 96% of global imports. The second position in the ranking was held by lenses, spectacle; unmounted, of glass, excluding elements of glass not optically worked ($298M), with a 4.1% share of global imports.

For lenses, spectacle; unmounted, of materials other than glass, imports expanded at an average annual rate of +4.5% over the period from 2012-2022.

Import Prices By Type

In 2022, the average spectacle glass lenses import price amounted to $3.7 per unit, declining by -2.8% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 6.8% against the previous year. Global import price peaked at $4.2 per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was lenses, spectacle; unmounted, of materials other than glass ($3.8 per unit), while the price for lenses, spectacle; unmounted, of glass, excluding elements of glass not optically worked totaled $1.9 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by lenses, spectacle; unmounted, of materials other than glass (-0.6%).

Import Prices By Country

The average spectacle glass lenses import price stood at $3.7 per unit in 2022, which is down by -2.8% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 6.8% against the previous year. Global import price peaked at $4.2 per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($6.2 per unit), while India ($0.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Spectacle Lenses Of Glass Or Other Materials

In 2022, shipments abroad of spectacle lenses of glass or other materials increased by 14% to 2.5B units, rising for the second consecutive year after two years of decline. Overall, exports saw a temperate expansion. The pace of growth appeared the most rapid in 2018 with an increase of 70%. Over the period under review, the global exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, spectacle glass lenses exports stood at $6.9B in 2022. The total export value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 25%. The global exports peaked in 2022 and are likely to see steady growth in the near future.

Exports By Country

China prevails in exports structure, reaching 1.6B units, which was approx. 62% of total exports in 2022. It was distantly followed by Thailand (229M units), making up a 9.1% share of total exports. Mexico (105M units), the United States (79M units), Germany (63M units), Hong Kong SAR (59M units), France (46M units), the Czech Republic (43M units) and the Netherlands (40M units) took a minor share of total exports.

Exports from China increased at an average annual rate of +4.6% from 2012 to 2022. At the same time, the Czech Republic (+20.9%), Mexico (+15.4%), the Netherlands (+8.8%), the United States (+7.4%), Thailand (+2.9%) and Germany (+2.6%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of +20.9% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-3.7%) illustrated a downward trend over the same period. While the share of China (+4.1 p.p.) and Mexico (+2.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Hong Kong SAR (-2.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.4B), Thailand ($995M) and Mexico ($720M) were the countries with the highest levels of exports in 2022, with a combined 44% share of global exports. The United States, Germany, the Netherlands, Hong Kong SAR, the Czech Republic and France lagged somewhat behind, together comprising a further 29%.

In terms of the main exporting countries, the Czech Republic, with a CAGR of +16.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Lenses, spectacle; unmounted, of materials other than glass dominates exports structure, reaching 2.3B units, which was approx. 93% of total exports in 2022. It was distantly followed by lenses, spectacle; unmounted, of glass, excluding elements of glass not optically worked (184M units), mixing up a 7.3% share of total exports.

Lenses, spectacle; unmounted, of materials other than glass was also the fastest-growing in terms of exports, with a CAGR of +5.3% from 2012 to 2022. lenses, spectacle; unmounted, of glass, excluding elements of glass not optically worked (-5.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of lenses, spectacle; unmounted, of materials other than glass increased by +11 percentage points.

In value terms, lenses, spectacle; unmounted, of materials other than glass ($6.7B) remains the largest type of spectacle lenses of glass or other materials supplied worldwide, comprising 96% of global exports. The second position in the ranking was held by lenses, spectacle; unmounted, of glass, excluding elements of glass not optically worked ($244M), with a 3.5% share of global exports.

From 2012 to 2022, the average annual growth rate of the value of lenses, spectacle; unmounted, of materials other than glass exports totaled +4.6%.

Export Prices By Type

The average spectacle glass lenses export price stood at $2.8 per unit in 2022, waning by -11.8% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 81%. The global export price peaked at $5.2 per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was lenses, spectacle; unmounted, of materials other than glass ($2.9 per unit), while the average price for exports of lenses, spectacle; unmounted, of glass, excluding elements of glass not optically worked stood at $1.3 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by lenses, spectacle; unmounted, of glass, excluding elements of glass not optically worked (+2.1%).

Export Prices By Country

In 2022, the average spectacle glass lenses export price amounted to $2.8 per unit, dropping by -11.8% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 81%. Over the period under review, the average export prices reached the peak figure at $5.2 per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($9.4 per unit), while China ($0.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+11.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform