Italy: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Italy

The Italian synthetic gemstones market skyrocketed to $X in 2021, jumping by 37% against the previous year. In general, consumption enjoyed a remarkable increase. Synthetic gemstones consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Synthetic Gemstones Production in Italy

In value terms, synthetic gemstones production expanded markedly to $X in 2021 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -25.6% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 50% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Synthetic Gemstones Exports

Exports from Italy

In 2021, exports of synthetic or reconstructed precious or semi-precious stones from Italy skyrocketed to X tons, with an increase of 2,325% on the year before. In general, exports, however, faced a abrupt setback. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, synthetic gemstones exports soared to $X in 2021. Over the period under review, exports, however, saw a abrupt contraction. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The Czech Republic (X kg), Switzerland (X kg) and Germany (X kg) were the main destinations of synthetic gemstones exports from Italy, with a combined 42% share of total exports. These countries were followed by China, India, Greece, Thailand and the United States, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +30.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic gemstones exported from Italy were Thailand ($X), Germany ($X) and the Czech Republic ($X), with a combined 54% share of total exports.

Thailand, with a CAGR of +44.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average synthetic gemstones export price amounted to $X per kg, shrinking by -24.1% against the previous year. Overall, the export price, however, saw prominent growth. The pace of growth appeared the most rapid in 2017 an increase of 246% against the previous year. As a result, the export price reached the peak level of $X per kg. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+59.8%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Gemstones Imports

Imports into Italy

In 2021, approx. X tons of synthetic or reconstructed precious or semi-precious stones were imported into Italy; picking up by 99% on 2020 figures. Overall, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 when imports increased by 152%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, synthetic gemstones imports skyrocketed to $X in 2021. In general, imports showed notable growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of synthetic gemstones to Italy, with a 80% share of total imports. Moreover, synthetic gemstones imports from China exceeded the figures recorded by the second-largest supplier, Zambia (X tons), tenfold. India (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 China amounted to +33.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Zambia (+195.6% per year) and India (+19.0% per year).

In value terms, China ($X) constituted the largest supplier of synthetic or reconstructed precious or semi-precious stones to Italy, comprising 50% of total imports. The second position in the ranking was taken by India ($X), with a 2.7% share of total imports. It was followed by Japan, with a 0.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+13.9% per year) and Japan (-28.1% per year).

Import Prices by Country

In 2021, the average synthetic gemstones import price amounted to $X per ton, rising by 31% against the previous year. Overall, the import price, however, recorded a abrupt decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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