Africa: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Africa

The African synthetic gemstones market soared to $X in 2022, jumping by X% against the previous year. Overall, consumption saw a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Synthetic Gemstones Production in Africa

In value terms, synthetic gemstones production expanded modestly to $X in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Synthetic Gemstones Exports

Exports in Africa

In 2022, after two years of growth, there was significant decline in shipments abroad of synthetic or reconstructed precious or semi-precious stones, when their volume decreased by X% to X kg. Over the period under review, exports showed a precipitous setback. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, synthetic gemstones exports declined remarkably to $X in 2022. Overall, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Mauritius (X kg) represented the main exporter of synthetic or reconstructed precious or semi-precious stones, comprising X% of total exports. It was distantly followed by Madagascar (X kg), Mozambique (X kg), Namibia (X kg) and Morocco (X kg), together creating a X% share of total exports. Nigeria (X kg) and Tanzania (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to synthetic gemstones exports from Mauritius stood at X%. At the same time, Namibia (X%), Morocco (X%), Mozambique (X%) and Madagascar (X%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) and Tanzania (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mauritius, Mozambique, Madagascar, Namibia, Morocco, Nigeria and Tanzania increased by X, X, X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mauritius ($X), Mozambique ($X) and Namibia ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Madagascar, Morocco, Tanzania and Nigeria lagged somewhat behind, together accounting for a further X%.

Morocco, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries 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 Africa stood at $X per kg in 2022, declining by X% against the previous year. In general, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per kg, and then fell rapidly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mozambique ($X per kg), while Nigeria ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (X%), while the other leaders experienced more modest paces of growth.

Synthetic Gemstones Imports

Imports in Africa

In 2022, approx. X tons of synthetic or reconstructed precious or semi-precious stones were imported in Africa; growing by X% compared with the previous year. Over the period under review, imports continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic gemstones imports rose to $X in 2022. In general, imports, however, showed a perceptible slump. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

South Africa (X tons) and Mauritius (X tons) dominates imports structure, together mixing up X% of total imports. Nigeria (X tons) took the next position in the ranking, followed by Sudan (X tons). All these countries together held near X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mauritius ($X) constitutes the largest market for imported synthetic or reconstructed precious or semi-precious stones in Africa, comprising X% of total imports. The second position in the ranking was taken by South Africa ($X), with a X% share of total imports. It was followed by Sudan, with a X% share.

In Mauritius, synthetic gemstones imports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Africa (X% per year) and Sudan (X% per year).

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price faced a drastic downturn. The pace of growth appeared the most rapid in 2018 an increase of X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mauritius ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sudan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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