Synthetic ivory is a composite of polymeric material and minerals. Knowledge of polymer chemistry would enable us to synthesize ivory differing in no significant ways from the material derived from elephant tusks.
In fact, we could synthesize a wide variety of ivories to meet differing aesthetic requirements, free of the blemishes of the natural material.
The problem is analogous to the introduction of synthetic fur, which has alleviated the demand for fur from animals.
Since the price of ivory is so high, synthetic ivory could make the material available to many more customers. Moreover, the proceeds from the sale of synthetic ivory could be used for a public education campaign to open people’s eyes to the true cost of the animal-derived product.