The import of spectacle lenses of glass to South Africa has shown significant fluctuations from 2013 to 2023. Starting with a value of 113.93 million kilograms in 2013, it saw a peak in 2014 at 162.93 million kilograms, followed by a dramatic decline in 2015. After a period of moderate recovery from 2016 to 2023, the import volume stabilized and recorded 81.94 million kilograms in 2023. Year-on-year variations ranged from -76.49% in 2015 to 101.13% in 2016. Over the last two years (2022-2023), the growth rate stood at 0.81% in 2023, with a CAGR of 0.86% over the past five years.
Forecasting into the future (2024-2028), the import volume is expected to grow gradually, reaching 85.043 million kilograms by 2028. The average annual growth rate (CAGR) for this period is projected to be 0.59% with a total forecast growth rate of 2.98% over five years. Key indicators suggest a stabilization in the import volumes with modest growth.
Future trends to watch for include:
- Technological advancements in lens production potentially affecting import needs.
- Changes in domestic manufacturing capabilities and their impact on imports.
- Consumer demand shifts due to economic conditions or new product preferences.
