Global Plano Sunglasses Market To Grow AT A CAGR of 7.9% from 2013 to 2020 - Hexa Research
Plano sunglasses market is expected to grow over the forecast period owing to the increasing awareness about the protection of eyes and growing population.
Plano glasses protect eyes from the sun’s harmful ultra-violet rays, over exposure to which may lead to eye damage and development of cataract. Hexa Research observes that factors like growing demand for fashionable eyewear, changing lifestyles and supply of technologically advanced products are driving global demand for plano sunglasses. Premium, high-priced, aesthetically-pleasing products are generating maximum volumes. The number of units of plano sunglasses shipped globally is estimated to be more than 390 million by 2020.
Owing to large-scale opportunities present, various industry players are aiming to expand their distribution network on a global scale. Industry growth may get restricted due to availability and ability of prescription sunglasses to accomplish both – eye protection as well as vision correction.
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The global plano sunglasses market has witnessed technological advancements in the form of refractive surgeries that include Laser-Assisted In Situ Keratomileusis (LASIK) and photorefractive keratectomy. These procedures coupled with growing adoption of contact lenses will mitigate the impact of growth inhibitors. Plano sunglasses value chain constitutes component manufacturers, suppliers, distributors and retailers.
The global plano sunglasses market is categorized into polarized and non-polarized sunglasses. While polarized products enhance vision through visual acuity, non-polarized glasses lower the amount of visible light entering into the eye. Polarized sunglasses accounted for more than 20% of overall volumes in 2012. Growing consumer preference is expected to propel demand for polarized plano sunglasses in the coming years.
Segmentation of the global plano sunglasses industry on the basis of lens material includes CR-39, polycarbonate, polyurethane, and nylon. Huge demand exists for lenses that are water and crack resistant. Characteristics like durability and cost effectiveness have contributed to CR-39 attracting the largest demand in 2013. Polycarbonate lenses are lightweight and offer excellent impact resistance. However, low clarity and scratch resistance are their drawbacks. Hexa Research anticipates CR-39 lenses to continue their market leadership in future and share of polycarbonate lenses to grow at a CAGR of 8.1% from 2013 to 2020. While North America and Europe account for most of the current demand, Asia Pacific markets are expected to grow at a CAGR of 10% from 2013 till 2020.
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