Asia: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Asia

The Asian synthetic gemstones market soared to $X in 2021, with an increase of 47% against the previous year. In general, consumption enjoyed a significant expansion. The level of consumption peaked in 2021 and is likely to continue growth in the near future.

Synthetic Gemstones Production in Asia

In value terms, synthetic gemstones production rose sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 44%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Synthetic Gemstones Exports

Exports in Asia

After two years of decline, overseas shipments of synthetic or reconstructed precious or semi-precious stones increased by 2.2% to X tons in 2021. Over the period under review, exports, however, continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2018 when exports increased by 34% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, synthetic gemstones exports soared to $X in 2021. Overall, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates was the major exporting country with an export of around X tons, which accounted for 40% of total exports. China (X tons) held the second position in the ranking, followed by India (X tons), Hong Kong SAR (X tons) and Japan (X tons). All these countries together took near 49% share of total exports. Thailand (X tons) and Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of +13.3% from 2012 to 2021. At the same time, India (+52.6%), Thailand (+8.6%) and Hong Kong SAR (+7.7%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +52.6% from 2012-2021. Lao People's Democratic Republic experienced a relatively flat trend pattern. By contrast, China (-13.7%) and Japan (-14.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates, India, Hong Kong SAR and Thailand increased by +30, +13, +8 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) remains the largest synthetic gemstones supplier in Asia, comprising 65% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total exports. It was followed by China, with a 12% share.

In Hong Kong SAR, synthetic gemstones exports increased at an average annual rate of +44.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+29.0% per year) and China (+15.3% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per kg, growing by 81% against the previous year. In general, the export price enjoyed significant growth. The most prominent rate of growth was recorded in 2016 an increase of 85%. Over the period under review, the export prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per kg), while Thailand ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+33.8%), while the other leaders experienced more modest paces of growth.

Synthetic Gemstones Imports

Imports in Asia

In 2021, imports of synthetic or reconstructed precious or semi-precious stones in Asia skyrocketed to X tons, increasing by 123% on 2020 figures. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 703%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, synthetic gemstones imports soared to $X in 2021. Over the period under review, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India represented the key importer of synthetic or reconstructed precious or semi-precious stones in Asia, with the volume of imports resulting at X tons, which was near 72% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), comprising a 24% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to synthetic gemstones imports into India stood at +63.9%. At the same time, the United Arab Emirates (+72.2%) and Hong Kong SAR (+10.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in Asia, with a CAGR of +72.2% from 2012-2021. India (+59 p.p.) and the United Arab Emirates (+21 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -8.5% from 2012 to 2021, respectively.

In value terms, India ($X) constitutes the largest market for imported synthetic or reconstructed precious or semi-precious stones in Asia, comprising 57% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 28% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in India totaled +56.2%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+32.7% per year) and the United Arab Emirates (+73.1% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, with a decrease of -8.3% against the previous year. In general, the import price saw a abrupt downturn. The growth pace was the most rapid in 2019 when the import price increased by 90%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+20.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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