HUB 生产基地 32 | JNA March/April 2025 Coloured gemstone manufacturers in Thailand bank on market diversification, product innovation and inventive strategies to reach new heights amid challenging business conditions. 泰国的彩宝生产商开拓多元化市场，并聚焦创新 产品与策略，在充满考验的环境中攀上新高峰。 Resilience and ingenuity in THAILAND’S coloured gem sector 泰国彩宝业展现无比韧性与独创力 | Olivia Quiniquini 程爱莉 | Thailand’s gem and jewellery industry is pivoting to new markets and strategies while capitalising on its manufacturing strengths to foster growth this year. Despite geopolitical uncertainties, global economic challenges and slowdowns in key markets, the country achieved an 11 per cent year-on-year increase in the value of its gem and jewellery exports (excluding unwrought gold) in 2024, which amounted to US$9.6 billion, according to data from The Gem and Jewelry Institute of Thailand (Public Organization) or GIT. Attributing this to the sector’s remarkable resilience, GIT Director Sumed Prasongpongchai maintains an optimistic yet realistic outlook for this year. “Government support through tax incentives and world-class trade events will strengthen our position as a global hub. However, we are mindful of challenges such as economic uncertainties and geopolitical tensions,” he said. “To develop further, the industry must diversify into new markets, innovate with unique designs and embrace digital platforms to reach global consumers more effectively.” While challenges still abound in 2025, he cited Thailand’s superior craftsmanship, particularly for coloured gemstones and silver jewellery, along with its robust trade infrastructure as major growth engines for the country’s gem and jewellery industry. Offering significant opportunities is the increasing global demand for coloured gemstones, where Thailand already holds a competitive advantage due to its skilled artisanship and extensive expertise, he noted. Shining prospects According to the GIT official, Thailand-manufactured coloured gemstone jewellery – particularly pieces featuring rubies, sapphires, and emeralds – will continue to be highly favoured this year. Contemporary designs, including minimalist, genderneutral and sustainable jewellery, are likewise gaining traction, especially among younger consumers. “We anticipate strong demand from key markets such as the US, Europe and the Middle East, where consumers value high-quality workmanship and distinctive designs,” Prasongpongchai shared. “Emerging markets in Southeast Asia and India are also showing promising growth, driven by rising disposable incomes and evolving fashion trends.” Indeed, Thai coloured gemstone manufacturers are increasingly training their sights on possibilities in alternative markets. Making inroads in the Middle East is a priority for Ploy Center Co Ltd this year. The company specialises in good-quality rubies and sapphires, with single stones comprising the bulk of the inventory. “Clients from the Middle East prefer bigger-sized rubies and sapphires of commercial quality. They primarily seek stones for elaborate and eye-catching
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