United Kingdom: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in the UK

The UK synthetic gemstones market skyrocketed to $X in 2022, rising by X% against the previous year. Over the period under review, consumption, however, continues to indicate a slight shrinkage. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Synthetic Gemstones Production in the UK

In value terms, synthetic gemstones production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

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Synthetic Gemstones Exports

Exports from the UK

In 2022, overseas shipments of synthetic or reconstructed precious or semi-precious stones decreased by X% to X kg for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then fell notably in the following year.

In value terms, synthetic gemstones exports reduced markedly to $X in 2022. Overall, exports, however, posted slight growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell significantly in the following year.

Exports by Country

The Netherlands (X kg) was the main destination for synthetic gemstones exports from the UK, accounting for a X% share of total exports. Moreover, synthetic gemstones exports to the Netherlands exceeded the volume sent to the second major destination, China (X kg), threefold. The third position in this ranking was held by Italy (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Italy (X% per year).

In value terms, the largest markets for synthetic gemstones exported from the UK were China ($X), the United States ($X) and the Netherlands ($X), with a combined X% share of total exports.

The Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average synthetic gemstones export price amounted to $X per kg, growing by X% against the previous year. In general, the export price continues to indicate a prominent expansion. The growth pace was the most rapid in 2017 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Italy ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Gemstones Imports

Imports into the UK

In 2022, supplies from abroad of synthetic or reconstructed precious or semi-precious stones decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports recorded a abrupt setback. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, synthetic gemstones imports contracted remarkably to $X in 2022. Over the period under review, imports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked at $X in 2021, and then fell markedly in the following year.

Imports by Country

The United States (X kg), China (X kg) and Germany (X kg) were the main suppliers of synthetic gemstones imports to the UK, with a combined X% share of total imports. The Netherlands, Italy and Ireland lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) constituted the largest synthetic gemstones suppliers to the UK, together accounting for X% of total imports. The Netherlands, Italy and Ireland lagged somewhat behind, together comprising a further X%.

The Netherlands, with a CAGR of X%, 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

The average synthetic gemstones import price stood at $X per kg in 2022, with a decrease of X% against the previous year. Overall, the import price, however, saw a resilient increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per kg in 2021, and then shrank significantly in the following year.

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 Ireland ($X per kg), while the price for Italy ($X per kg) was amongst the lowest.

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

Source: IndexBox Platform

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