U.S.: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in the U.S.

The U.S. synthetic gemstones market surged to $X in 2022, with an increase of X% against the previous year. In general, consumption enjoyed a remarkable increase. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in years to come.

Synthetic Gemstones Production in the U.S.

In value terms, synthetic gemstones production rose rapidly to $X in 2022. In general, production, however, recorded a slight decrease. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Synthetic Gemstones Exports

Exports from the U.S.

In 2022, overseas shipments of synthetic or reconstructed precious or semi-precious stones decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports showed a deep setback. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, synthetic gemstones exports fell rapidly to $X in 2022. Over the period under review, exports recorded a deep setback. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

Japan (X tons), Singapore (X tons) and Indonesia (X tons) were the main destinations of synthetic gemstones exports from the United States, together accounting for X% of total exports. The United Arab Emirates, China, Germany, Mexico and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, 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 X%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) emerged as the key foreign market for synthetic or reconstructed precious or semi-precious stones exports from the United States, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the average synthetic gemstones export price amounted to $X per ton, which is down by X% against the previous year. Overall, the export price showed a drastic downturn. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X,765 per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced a decline.

Synthetic Gemstones Imports

Imports into the U.S.

In 2022, after six years of growth, there was decline in overseas purchases of synthetic or reconstructed precious or semi-precious stones, when their volume decreased by X% to X tons. In general, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, synthetic gemstones imports contracted dramatically to $X in 2022. Overall, imports showed a deep slump. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main synthetic gemstones supplier to the United States, with a X% share of total imports. Moreover, synthetic gemstones imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. Denmark (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Denmark (X% per year).

In value terms, China ($X) constituted the largest supplier of synthetic or reconstructed precious or semi-precious stones to the United States, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by Denmark, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Denmark (X% per year).

Import Prices by Country

The average synthetic gemstones import price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the import price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X,271 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X,597 per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (X.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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