Australia: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Australia

The Australian synthetic gemstones market reached $X in 2021, with an increase of 1.6% against the previous year. Overall, consumption showed a buoyant increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Synthetic Gemstones Production in Australia

In value terms, synthetic gemstones production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 21% against the previous year. As a result, production reached the peak level of $X, and then shrank in the following year.

Synthetic Gemstones Exports

Exports from Australia

In 2021, the amount of synthetic or reconstructed precious or semi-precious stones exported from Australia contracted markedly to X kg, waning by -97.7% compared with 2020. In general, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 13,150% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic gemstones exports declined dramatically to $X in 2021. Overall, exports, however, saw moderate growth. The growth pace was the most rapid in 2013 when exports increased by 15,584% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for synthetic gemstones exports from Australia, accounting for a 69% share of total exports. Moreover, synthetic gemstones exports to the United States exceeded the volume sent to the second major destination, New Zealand (X kg), twofold.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +20.1%.

In value terms, the United States ($X) emerged as the key foreign market for synthetic or reconstructed precious or semi-precious stones exports from Australia, comprising 66% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled -1.3%.

Export Prices by Country

In 2021, the average synthetic gemstones export price amounted to $X per kg, declining by -14% against the previous year. In general, the export price saw a deep reduction. The most prominent rate of growth was recorded in 2013 an increase of 18%. As a result, the export price reached the peak level of $X per kg. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to New Zealand amounted to $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+3.4%), while the prices for the other major destinations experienced a decline.

Synthetic Gemstones Imports

Imports into Australia

In 2021, purchases abroad of synthetic or reconstructed precious or semi-precious stones decreased by -12.6% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, posted a significant expansion. The growth pace was the most rapid in 2017 with an increase of 574% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic gemstones imports skyrocketed to $X in 2021. In general, imports showed a drastic downturn. The pace of growth was the most pronounced in 2016 with an increase of 296% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest synthetic gemstones supplier to Australia, with a 52% share of total imports. Moreover, synthetic gemstones imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X kg), threefold. India (X kg) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +112.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+14.6% per year) and India (+180.3% per year).

In value terms, India ($X) constituted the largest supplier of synthetic or reconstructed precious or semi-precious stones to Australia, comprising 34% of total imports. The second position in the ranking was taken by Brazil ($X), with a 15% share of total imports. It was followed by the UK, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from India totaled +140.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+106.8% per year) and the UK (+78.1% per year).

Import Prices by Country

In 2021, the average synthetic gemstones import price amounted to $X per kg, jumping by 47% against the previous year. In general, the import price, however, saw a precipitous setback. The pace of growth appeared the most rapid in 2016 when the average import price increased by 479%. Over the period under review, average import prices hit record highs at $X per kg in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per kg), while the price for China ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+80.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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