The trend in the import of spectacle lenses of glass to Malaysia has shown a general decline from 2013 to 2023. The import value stood at 4.5877 million USD in 2023. Over the past two years, the year-on-year variations were -0.82% in 2023 and -0.83% in 2022, reflecting a slight but steady decline. The CAGR for the last five years is -0.69%, indicating an average annual decrease rate. Notable trends over the longer period include a significant drop in 2016 and subsequent fluctuations resulting in a relatively stable decline.
Looking ahead, forecasts up to 2028 suggest a continued gradual decrease in import values with a forecasted 5-year CAGR of -0.69%. This suggests that the market for spectacle lenses of glass in Malaysia may face sustained challenges. Factors such as advancements in alternative materials, changing consumer preferences, and potential shifts in trade policies are crucial future trends to watch for.
