Japan: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Japan

The Japanese synthetic gemstones market soared to $X in 2021, rising by 209% against the previous year. Over the period under review, consumption recorded 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 Japan

In value terms, synthetic gemstones production rose slightly to $X in 2021 estimated in export price. In general, production, however, saw a deep reduction. The most prominent rate of growth was recorded in 2019 when the production volume increased by 108% against the previous year. Synthetic gemstones production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Synthetic Gemstones Exports

Exports from Japan

In 2021, shipments abroad of synthetic or reconstructed precious or semi-precious stones was finally on the rise to reach X tons after three years of decline. In general, exports, however, faced a deep setback. The pace of growth appeared the most rapid in 2013 when exports increased by 7.4% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of 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, continue to indicate a deep reduction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for synthetic gemstones exports from Japan, with a 62% share of total exports. Moreover, synthetic gemstones exports to China exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fivefold. The third position in this ranking was held by Switzerland (X tons), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to -15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-6.8% per year) and Switzerland (-7.3% per year).

In value terms, the largest markets for synthetic gemstones exported from Japan were Singapore ($X), China ($X) and Hong Kong SAR ($X), together accounting for 53% of total exports.

Hong Kong SAR, with a CAGR of +10.7%, recorded the highest growth rate of 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

The average synthetic gemstones export price stood at $X per ton in 2021, rising by 20% against the previous year. Over the period under review, the export price saw temperate growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 49% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Thailand ($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 Hong Kong SAR (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Gemstones Imports

Imports into Japan

After three years of decline, supplies from abroad of synthetic or reconstructed precious or semi-precious stones increased by 29% to X tons in 2021. Over the period under review, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 102% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, synthetic gemstones imports surged to $X in 2021. Overall, imports continue to indicate a buoyant expansion. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of synthetic gemstones to Japan, with a 62% share of total imports. Moreover, synthetic gemstones imports from Russia exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by China (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Russia amounted to -9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-16.5% per year) and China (+8.6% per year).

In value terms, China ($X), the Philippines ($X) and Malaysia ($X) were the largest synthetic gemstones suppliers to Japan, with a combined 84% share of total imports.

The Philippines, with a CAGR of +84.8%, recorded 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

The average synthetic gemstones import price stood at $X per ton in 2021, surging by 15% against the previous year. Overall, the import price enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 106%. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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