Vietnam: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Vietnam

After two years of growth, the Vietnamese synthetic gemstones market decreased by X% to $X in 2022. Overall, consumption showed a dramatic shrinkage. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Synthetic Gemstones Production in Vietnam

In value terms, synthetic gemstones production stood at $X in 2022 estimated in export price. Over the period under review, production faced a precipitous decline. The most prominent rate of growth was recorded in 2013 when the production volume decreased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Synthetic Gemstones Exports

Exports from Vietnam

In 2022, overseas shipments of synthetic or reconstructed precious or semi-precious stones increased by X% to X kg, rising for the second year in a row after four years of decline. In general, exports, however, faced a sharp downturn. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, synthetic gemstones exports dropped sharply to $X in 2022. Overall, exports, however, showed a significant contraction. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X kg) was the main destination for synthetic gemstones exports from Vietnam, accounting for a X% share of total exports. Moreover, synthetic gemstones exports to Hong Kong SAR exceeded the volume sent to the second major destination, South Korea (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR stood at X%.

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for synthetic or reconstructed precious or semi-precious stones exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR amounted to X%.

Export Prices by Country

The average synthetic gemstones export price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced sharply in the following year.

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 South Korea ($X per ton), while the average price for exports to Hong Kong SAR stood at $X per ton.

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

Synthetic Gemstones Imports

Imports into Vietnam

In 2022, after two years of growth, there was significant decline in overseas purchases of synthetic or reconstructed precious or semi-precious stones, when their volume decreased by X% to X kg. In general, imports faced a drastic downturn. The pace of growth was the most pronounced in 2017 when imports increased by X%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, synthetic gemstones imports shrank remarkably to $X in 2022. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X kg) constituted the largest synthetic gemstones supplier to Vietnam, with a X% share of total imports. Moreover, synthetic gemstones imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X kg), twofold. The third position in this ranking was held by Taiwan (Chinese) (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Japan ($X), China ($X) and Thailand ($X) constituted the largest synthetic gemstones suppliers to Vietnam, together comprising X% of total imports.

In terms of the main suppliers, Japan, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average synthetic gemstones import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price enjoyed a moderate increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X,914 per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :