Canada: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Canada

The Canadian synthetic gemstones market skyrocketed to $X in 2021, increasing by 431% against the previous year. In general, consumption enjoyed a significant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Synthetic Gemstones Production in Canada

In value terms, synthetic gemstones production stood at $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. Over the period under review, production reached the peak level in 2021 and is expected to retain growth in the immediate term.

Synthetic Gemstones Exports

Exports from Canada

Synthetic gemstones exports from Canada fell rapidly to X kg in 2021, waning by -53.5% against the previous year. In general, exports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2018 with an increase of 2,562%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, synthetic gemstones exports fell sharply to $X in 2021. Over the period under review, exports continue to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 1,781% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X kg), Thailand (X kg) and Switzerland (X kg) were the main destinations of synthetic gemstones exports from Canada, together comprising 44% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +35.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic gemstones exported from Canada were South Korea ($X), China ($X) and the United States ($X), together accounting for 66% of total exports. Hong Kong SAR, the UK, Sweden, Switzerland, Germany, India and Thailand lagged somewhat behind, together accounting for a further 23%.

Hong Kong SAR, with a CAGR of +9.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average synthetic gemstones export price amounted to $X per ton, picking up by 4.4% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 97%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+54.3%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Gemstones Imports

Imports into Canada

Synthetic gemstones imports into Canada skyrocketed to X tons in 2021, jumping by 41% on the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 106% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, synthetic gemstones imports soared to $X in 2021. In general, imports saw a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 86%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, the United States (X tons) constituted the largest synthetic gemstones supplier to Canada, accounting for a 64% share of total imports. Moreover, synthetic gemstones imports from the United States exceeded the figures recorded by the second-largest supplier, Switzerland (X kg), sevenfold. Hong Kong SAR (X kg) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-12.7% per year) and Hong Kong SAR (+40.1% per year).

In value terms, Germany ($X), China ($X) and the United States ($X) were the largest synthetic gemstones suppliers to Canada, with a combined 53% share of total imports. These countries were followed by India, Hong Kong SAR, Israel, Russia, Switzerland, France and the Netherlands, which together accounted for a further 20%.

Israel, with a CAGR of +346.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average synthetic gemstones import price amounted to $X per ton, growing by 28% against the previous year. Over the period under review, the import price saw prominent growth. The pace of growth appeared the most rapid in 2018 an increase of 57%. The import price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+391.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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