Turkey: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Turkey

The Turkish synthetic gemstones market surged to $X in 2021, jumping by 38% against the previous year. In general, consumption, however, saw a deep setback. Synthetic gemstones consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Synthetic Gemstones Production in Turkey

In value terms, synthetic gemstones production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 10% against the previous year. As a result, production attained the peak level of $X, and then contracted modestly in the following year.

Synthetic Gemstones Exports

Exports from Turkey

In 2021, exports of synthetic or reconstructed precious or semi-precious stones from Turkey dropped dramatically to X kg, which is down by -66.7% against the year before. In general, exports saw a pronounced downturn. The pace of growth was the most pronounced in 2013 when exports increased by 486% against the previous year. The exports peaked at X kg in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic gemstones exports dropped dramatically to $X in 2021. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,236%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X kg), Switzerland (X kg) and Belgium (X kg) were the main destinations of synthetic gemstones exports from Turkey, with a combined 60% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) emerged as the key foreign market for synthetic or reconstructed precious or semi-precious stones exports from Turkey, comprising 61% of total exports. The second position in the ranking was held by Switzerland ($X), with a 26% share of total exports. It was followed by Canada, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium totaled +57.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+126.9% per year) and Canada (+43.6% per year).

Export Prices by Country

The average synthetic gemstones export price stood at $X per kg in 2021, with an increase of 102% against the previous year. Over the period under review, the export price posted a significant expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 3,017%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per kg), while the average price for exports to the United Arab Emirates ($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 Hong Kong SAR (+5,142.3%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Gemstones Imports

Imports into Turkey

In 2021, synthetic gemstones imports into Turkey surged to X kg, jumping by 184% compared with the year before. Over the period under review, imports, however, recorded a deep setback. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, synthetic gemstones imports contracted significantly to $X in 2021. In general, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2020 with an increase of 226% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X kg) was the main synthetic gemstones supplier to Turkey, accounting for a 97% share of total imports. It was followed by India (X kg), with a 1.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+4.9% per year) and Germany (-40.8% per year).

In value terms, China ($X) constituted the largest supplier of synthetic or reconstructed precious or semi-precious stones to Turkey, comprising 87% of total imports. The second position in the ranking was taken by India ($X), with a 1.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-25.3% per year) and Germany (-37.8% per year).

Import Prices by Country

The average synthetic gemstones import price stood at $X per ton in 2021, dropping by -74.6% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 236%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then declined dramatically in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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