Vietnam: Mounted Lens Market 2024

Mounted Lens Market Size in Vietnam

In 2022, the Vietnamese mounted lens market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, saw a perceptible increase. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Mounted Lens Production in Vietnam

In value terms, mounted lens production declined dramatically to $X in 2022 estimated in export price. Overall, production showed a dramatic decline. The growth pace was the most rapid in 2019 with a decrease of X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Mounted Lens Exports

Exports from Vietnam

In 2022, overseas shipments of mounted lenses, prisms and mirrors decreased by X% to X units, falling for the fourth consecutive year after four years of growth. Overall, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2018 when exports increased by X%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, mounted lens exports reduced to $X in 2022. Over the period under review, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units), the United States (X units) and Thailand (X units) were the main destinations of mounted lens exports from Vietnam, with a combined X% share of total exports.

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 more modest paces of growth.

In value terms, China ($X), the United States ($X) and Thailand ($X) appeared to be the largest markets for mounted lens exported from Vietnam worldwide, together comprising X% of total exports.

The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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 2022, the average mounted lens export price amounted to $X per unit, which is down by X% against the previous year. In general, export price indicated resilient growth from 2012 to 2022: its price 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. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The export price peaked at $X per unit in 2021, and then contracted in the following year.

Average prices varied noticeably for the major overseas 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 Malaysia ($X per unit) and China ($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 Myanmar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Mounted Lens Imports

Imports into Vietnam

In 2022, the amount of mounted lenses, prisms and mirrors imported into Vietnam declined dramatically to X units, waning by X% compared with the year before. Over the period under review, imports, however, posted a strong increase. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, mounted lens imports reduced remarkably to $X in 2022. In general, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Taiwan (Chinese) (X units) and South Korea (X units) were the main suppliers of mounted lens imports to Vietnam, with a combined X% share of total imports.

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

In value terms, China ($X), Taiwan (Chinese) ($X) and South Korea ($X) appeared to be the largest mounted lens suppliers to Vietnam, together accounting for X% of total imports.

Taiwan (Chinese), with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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 mounted lens import price amounted to $X per unit, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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