EU: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in the EU

In 2021, the EU synthetic gemstones market decreased by -14.1% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, saw a prominent expansion. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Synthetic Gemstones Production in the EU

In value terms, synthetic gemstones production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 16% against the previous year. As a result, production attained the peak level of $X, and then dropped in the following year.

Synthetic Gemstones Exports

Exports in the EU

In 2021, the amount of synthetic or reconstructed precious or semi-precious stones exported in the European Union skyrocketed to X tons, jumping by 44% against the year before. Overall, exports, however, recorded a relatively flat trend pattern. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, synthetic gemstones exports rose notably to $X in 2021. In general, exports posted resilient growth. The most prominent rate of growth was recorded in 2020 when exports increased by 148%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

In 2021, France (X tons) was the main exporter of synthetic or reconstructed precious or semi-precious stones, mixing up 49% of total exports. Germany (X tons) held the second position in the ranking, followed by Belgium (X tons) and Austria (X tons). All these countries together held approx. 42% share of total exports. Portugal (X tons) followed a long way behind the leaders.

France experienced a relatively flat trend pattern with regard to volume of exports of synthetic or reconstructed precious or semi-precious stones. At the same time, Portugal (+79.9%) and Belgium (+54.9%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +79.9% from 2012-2021. By contrast, Austria (-1.0%) and Germany (-8.3%) illustrated a downward trend over the same period. While the share of Belgium (+16 p.p.), France (+5.7 p.p.) and Portugal (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Germany (-19.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) remains the largest synthetic gemstones supplier in the European Union, comprising 75% of total exports. The second position in the ranking was taken by France ($X), with a 15% share of total exports. It was followed by Germany, with a 5.7% share.

In Belgium, synthetic gemstones exports increased at an average annual rate of +71.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: France (+2.9% per year) and Germany (-1.1% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, dropping by -21.1% against the previous year. Over the period under review, the export price, however, recorded a strong increase. The most prominent rate of growth was recorded in 2020 when the export price increased by 254%. As a result, the export price attained the peak level of $X per ton, and then fell rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+11.0%), while the other leaders experienced more modest paces of growth.

Synthetic Gemstones Imports

Imports in the EU

In 2021, purchases abroad of synthetic or reconstructed precious or semi-precious stones decreased by -15.6% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, saw a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 182%. As a result, imports attained the peak of X tons, and then reduced notably in the following year.

In value terms, synthetic gemstones imports dropped to $X in 2021. Over the period under review, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 172% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

Belgium was the main importer of synthetic or reconstructed precious or semi-precious stones in the European Union, with the volume of imports finishing at X tons, which was approx. 73% of total imports in 2021. It was distantly followed by Germany (X tons), constituting a 19% share of total imports. The following importers - Italy (X tons) and the Czech Republic (X tons) - each accounted for a 3.8% share of total imports.

Belgium was also the fastest-growing in terms of the synthetic or reconstructed precious or semi-precious stones imports, with a CAGR of +89.1% from 2012 to 2021. At the same time, Italy (+17.1%), Germany (+14.0%) and the Czech Republic (+13.7%) displayed positive paces of growth. Belgium (+72 p.p.) significantly strengthened its position in terms of the total imports, while Germany saw its share reduced by -15.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) constitutes the largest market for imported synthetic or reconstructed precious or semi-precious stones in the European Union, comprising 77% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by Italy, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Belgium totaled +85.5%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+0.7% per year) and Italy (+3.7% per year).

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, with an increase of 5.3% against the previous year. Overall, the import price, however, saw a deep slump. The pace of growth appeared the most rapid in 2013 when the import price increased by 21% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (-1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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