Forecast: Import of Spectacle Lenses of Glass to South Korea

The import of spectacle lenses of glass to South Korea has seen fluctuation over the years. Peak import values were recorded in 2014, after which there has been a general declining trend. As of 2023, the imports stood at 582.63 thousand US dollars. The year-on-year variation for 2023 shows a decrease of -1.89%. The five-year CAGR ending in 2023 was -3.31%, indicating an overall reduction in imports. Forecasted data suggests a continued decline with a forecasted five-year CAGR from 2024 to 2028 at -1.68%, leading to a growth rate decrease of -8.12% by 2028.

Future trends to watch for:

  • Technological advancements in lens materials could impact glass lens import demands.
  • Changes in domestic production capabilities might reduce reliance on imports.
  • Global economic conditions and trade agreements may influence future import values.

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