South-Eastern Asia: Synthetic Gemstones Market 2025

Synthetic Gemstones Market Size in South-Eastern Asia

In 2021, the Southeast Asian synthetic gemstones market increased by 155% to $X, rising for the second consecutive year after four years of decline. In general, consumption recorded a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Synthetic Gemstones Production in South-Eastern Asia

In value terms, synthetic gemstones production skyrocketed to $X in 2021 estimated in export price. Overall, production showed notable growth. The most prominent rate of growth was recorded in 2018 with an increase of 342%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Synthetic Gemstones Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of synthetic or reconstructed precious or semi-precious stones decreased by -36.9% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports saw a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 370%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, synthetic gemstones exports declined sharply to $X in 2021. In general, exports, however, recorded a notable expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 272% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) and Lao People's Democratic Republic (X tons) prevails in exports structure, together comprising 83% of total exports. It was distantly followed by Singapore (X tons), the Philippines (X tons) and Malaysia (X tons), together making up a 17% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +129.2%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest synthetic gemstones supplying countries in South-Eastern Asia were Malaysia ($X), Lao People's Democratic Republic ($X) and Thailand ($X), together accounting for 86% of total exports. The Philippines and Singapore lagged somewhat behind, together accounting for a further 14%.

In terms of the main exporting countries, the Philippines, with a CAGR of +122.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, increasing by 28% against the previous year. Overall, the export price continues to indicate prominent growth. The pace of growth appeared the most rapid in 2020 when the export price increased by 61% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+25.0%), while the other leaders experienced more modest paces of growth.

Synthetic Gemstones Imports

Imports in South-Eastern Asia

After two years of decline, overseas purchases of synthetic or reconstructed precious or semi-precious stones increased by 29% to X tons in 2021. Over the period under review, imports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when imports increased by 153%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, synthetic gemstones imports skyrocketed to $X in 2021. Overall, imports, however, recorded a noticeable downturn. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X tons) represented the key importer of synthetic or reconstructed precious or semi-precious stones, committing 39% of total imports. Singapore (X tons) took the second position in the ranking, followed by Malaysia (X tons), Indonesia (X tons), the Philippines (X tons) and Vietnam (X tons). All these countries together took near 55% share of total imports. Myanmar (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to synthetic gemstones imports into Thailand stood at -18.6%. At the same time, the Philippines (+142.1%), Myanmar (+67.5%) and Singapore (+11.5%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +142.1% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (-8.3%) and Vietnam (-25.5%) illustrated a downward trend over the same period. While the share of Singapore (+16 p.p.), Indonesia (+8.5 p.p.), the Philippines (+5.9 p.p.), Malaysia (+5.9 p.p.) and Myanmar (+3.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Vietnam (-13.5 p.p.) and Thailand (-29 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) constitutes the largest market for imported synthetic or reconstructed precious or semi-precious stones in South-Eastern Asia, comprising 70% of total imports. The second position in the ranking was held by Singapore ($X), with a 7.7% share of total imports. It was followed by Malaysia, with a 7.3% share.

In Thailand, synthetic gemstones imports contracted by an average annual rate of -5.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+10.1% per year) and Malaysia (-8.3% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, picking up by 46% against the previous year. In general, the import price continues to indicate a buoyant expansion. The growth pace was the most rapid in 2014 an increase of 217%. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+23.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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