Republic of Korea - Synthetic or Reconstructed Precious or Semi-Precious Stones - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Synthetic Gemstones Market 2024
Synthetic Gemstones Market Size in Republic of Korea
The South Korean synthetic gemstones market was finally on the rise to reach $X in 2023, after five years of decline. In general, consumption enjoyed a moderate expansion. Synthetic gemstones consumption peaked at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.
Synthetic Gemstones Production in Republic of Korea
In value terms, synthetic gemstones production amounted to $X in 2023 estimated in export price. Overall, production faced a significant curtailment. The most prominent rate of growth was recorded in 2020 with a decrease of X% against the previous year. Synthetic gemstones production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.
Synthetic Gemstones Exports
Exports from Republic of Korea
In 2023, the amount of synthetic or reconstructed precious or semi-precious stones exported from South Korea fell remarkably to X kg, waning by X% against the previous year's figure. In general, exports continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.
In value terms, synthetic gemstones exports contracted to $X in 2023. Overall, exports faced a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Japan (X kg), the United States (X kg) and the Czech Republic (X kg) were the main destinations of synthetic gemstones exports from South Korea, with a combined X% share of total exports. China and Greece lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, Japan ($X) remains the key foreign market for synthetic or reconstructed precious or semi-precious stones exports from South Korea, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with an X% share of total exports. It was followed by Greece, with a X% share.
From 2012 to 2023, the average annual growth rate of value to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Greece (X% per year).
Export Prices by Country
In 2023, the average synthetic gemstones export price amounted to $X per kg, picking up by X% against the previous year. Overall, the export price enjoyed a significant expansion. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2023 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per kg), while the average price for exports to the Czech Republic ($X per kg) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.
Synthetic Gemstones Imports
Imports into Republic of Korea
In 2023, supplies from abroad of synthetic or reconstructed precious or semi-precious stones was finally on the rise to reach X tons after two years of decline. Overall, imports showed measured growth. 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 hit record highs at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.
In value terms, synthetic gemstones imports expanded sharply to $X in 2023. In general, imports recorded tangible growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at $X in 2017; however, from 2018 to 2023, imports failed to regain momentum.
Imports by Country
In 2023, China (X tons) was the main synthetic gemstones supplier to South Korea, accounting for a X% share of total imports. It was followed by Japan (X kg), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of volume from China totaled X%.
In value terms, China ($X) constituted the largest supplier of synthetic or reconstructed precious or semi-precious stones to South Korea, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of value from China stood at X%.
Import Prices by Country
The average synthetic gemstones import price stood at $X per ton in 2023, reducing by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China totaled $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
This report provides an in-depth analysis of the synthetic gemstones market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20136800 - Synthetic or reconstructed precious or semi-precious stones, u nworked or simply sawn or roughly shaped
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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