Africa: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Africa

The African synthetic gemstones market shrank slightly to $X in 2023, remaining stable against the previous year. In general, consumption showed a noticeable contraction. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market remained at a lower figure.

Synthetic Gemstones Production in Africa

In value terms, synthetic gemstones production rose significantly to $X in 2023 estimated in export price. The total production indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Synthetic Gemstones Exports

Exports in Africa

In 2023, the amount of synthetic or reconstructed precious or semi-precious stones exported in Africa skyrocketed to X tons, picking up by X% on the previous year. Over the period under review, exports, however, showed a dramatic curtailment. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, synthetic gemstones exports amounted to $X in 2023. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in the immediate term.

Exports by Country

The shipments of the two major exporters of synthetic or reconstructed precious or semi-precious stones, namely Botswana and Madagascar, represented more than two-thirds of total export.

From 2012 to 2023, the biggest increases were recorded for Botswana (with a CAGR of X%).

In value terms, Botswana ($X) remains the largest synthetic gemstones supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Madagascar ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Botswana amounted to X%.

Export Prices by Country

The export price in Africa stood at $X per ton in 2023, dropping by X% against the previous year. In general, the export price, however, saw a significant increase. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Botswana ($X per ton), while Madagascar totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Botswana (X%).

Synthetic Gemstones Imports

Imports in Africa

In 2023, after three years of growth, there was significant decline in supplies from abroad of synthetic or reconstructed precious or semi-precious stones, when their volume decreased by X% to X tons. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports reached the peak of X tons, and then shrank dramatically in the following year.

In value terms, synthetic gemstones imports dropped to $X in 2023. Over the period under review, imports showed a noticeable decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Mauritius (X tons) represented the major importer of synthetic or reconstructed precious or semi-precious stones, achieving X% of total imports. Sudan (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Swaziland (X%). Nigeria (X kg) followed a long way behind the leaders.

Mauritius experienced a relatively flat trend pattern with regard to volume of imports of synthetic or reconstructed precious or semi-precious stones. At the same time, Nigeria (X%), Sudan (X%) and Swaziland (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Sudan, Swaziland, Nigeria and Mauritius increased by 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 ($X) constitutes the largest market for imported synthetic or reconstructed precious or semi-precious stones in Africa, comprising X% of total imports. The second position in the ranking was taken by Sudan ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

In Mauritius, synthetic gemstones imports plunged by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Sudan (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2023, picking up by X% against the previous year. Overall, the import price, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2019 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mauritius ($X per ton), while Swaziland ($X per ton) was amongst the lowest.

From 2012 to 2023, 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