Spain: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Spain

The Spanish synthetic gemstones market declined notably to $X in 2021, with a decrease of -50.6% against the previous year. In general, consumption faced a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Synthetic Gemstones Production in Spain

In value terms, synthetic gemstones production contracted notably to $X in 2021 estimated in export price. Over the period under review, production showed a significant curtailment. Over the period under review, production hit record highs at $X in 2020, and then declined sharply in the following year.

Synthetic Gemstones Exports

Exports from Spain

In 2021, overseas shipments of synthetic or reconstructed precious or semi-precious stones decreased by -61.1% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 352%. As a result, the exports attained the peak of X tons, and then fell notably in the following year.

In value terms, synthetic gemstones exports fell rapidly to $X in 2021. In general, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 7%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for synthetic gemstones exports from Spain, accounting for a 81% share of total exports. Moreover, synthetic gemstones exports to Germany exceeded the volume sent to the second major destination, Andorra (X kg), more than tenfold. The third position in this ranking was held by Costa Rica (X kg), with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Andorra (-95.1% per year) and Costa Rica (+80.6% per year).

In value terms, Germany ($X) emerged as the key foreign market for synthetic or reconstructed precious or semi-precious stones exports from Spain, comprising 56% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 9.2% share of total exports. It was followed by Chile, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-17.6% per year) and Chile (+31.4% per year).

Export Prices by Country

In 2021, the average synthetic gemstones export price amounted to $X per ton, shrinking by -8.2% against the previous year. Over the period under review, the export price faced a sharp contraction. The growth pace was the most rapid in 2018 when the average export price increased by 127%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the 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 Netherlands ($X per ton), while the average price for exports to Thailand ($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 China (+117.1%), while the prices for the other major destinations experienced mixed trend patterns.

Synthetic Gemstones Imports

Imports into Spain

Synthetic gemstones imports into Spain reduced notably to X kg in 2021, waning by -70.8% compared with 2020. Overall, imports showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by 27%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, synthetic gemstones imports contracted sharply to $X in 2021. Over the period under review, imports faced a dramatic setback. The most prominent rate of growth was recorded in 2018 when imports increased by 20%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The UK (X kg), China (X kg) and France (X kg) were the main suppliers of synthetic gemstones imports to Spain, with a combined 43% share of total imports. Hong Kong SAR, Israel, Argentina, the United States, Germany, South Africa, Italy and India lagged somewhat behind, together comprising a further 53%.

From 2012 to 2021, the biggest increases were recorded for Israel (with a CAGR of +380.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), India ($X) and the United States ($X) constituted the largest synthetic gemstones suppliers to Spain, together comprising 58% of total imports.

Israel, with a CAGR of +257.3%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, picking up by 181% against the previous year. Over the period under review, the import price showed a prominent expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+43.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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