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From 2023 to 2030, the worldwide diamond market is projected to rise from 2022's valuation of USD 90.22 billion at a CAGR (compound annual growth rate) of 5.0%. Rising demand from jewelry applications, particularly in developing countries of the Asia-Pacific region like India and China, is largely responsible for the industry's expansion.
A diamond's sole component is carbon. One of the most sought-after minerals in the world. Diamond is the hardest naturally occurring mineral that has been studied or used in industry. Since its commercialization, diamonds have gradually come to be regarded as one of the world's most valuable gemstones. However, the mineral's unique chemical and physical features also make it useful in a wide variety of industrial contexts. Diamonds are special and highly sought after for a number of reasons, including their fire, brilliance, and durability. They are currently located in kimberlite pipes, glacial tills, and alluvial gravel deposits. Researchers say that the carbon used to create diamonds comes from the melting of preexisting rocks located in the upper mantle of the planet, which explains why diamonds are often discovered between 70 and 120 miles below the surface. Demand and use of diamonds in industry and jewelry have skyrocketed during the past several years.
Diamond Industry Developments
Demand for jewelry made with lab-grown diamonds is the industry's primary growth driver. The dramatic drop in their production costs is responsible for this. After the release of Lightbox, De Beers Group's first line of synthetic diamond jewelry, the price per carat for lab-grown diamonds made using Chemical Vapor Deposition technology increased to between US$300 and US$500. In 2008, the same product was priced for $4,000. Lab-grown diamond prices fell dramatically as their production costs went down. In fact, the price of a lab-grown diamond good enough for jewelry has dropped by almost half since 2016. As production efficiency increase and new rivals enter the market, it is expected that prices will continue to fall. The IGDA suggests that the jewelry industry has a tremendous amount of room to grow to accommodate lab-grown diamonds.
Consumers, especially millennials, are drawn to lab-grown diamonds because they allow them to upgrade in size and quality for the same price as a smaller mined real diamond, according to a 2018 poll by the IGDA. Lab-grown diamonds are becoming increasingly popular because they provide customers with a legal alternative to mined diamonds without the associated ethical and environmental concerns. The result is expected to increase demand for diamonds over the projection period. The expansion of the building sector also helps propel demand for diamonds. The industrial use of diamonds has increased dramatically in recent years. The global market for industrial diamonds is primarily driven by the expanding construction sector. Diamonds are utilized for a wide variety of tasks in the building sector, including cutting, drilling, polishing, and grinding. Glass, concrete, bricks, stones, coal balls, and ceramics can all be shaped with the help of industrial diamonds.
Drivers
Rising demand is anticipated in the global diamond market as a result of rising diamond prices. Many consumers view these commodities as investments for the future, especially diamonds, whose value rises steadily. The "Kohinoor," the largest and most famous diamond in the world, is now worth more than $19.2 billion. Demand for diamonds of all sizes and shapes has increased over the past few years, aided in part by rising global incomes and a shift in how diamonds are viewed as an investment. The jewelry and watches division of LVMH Mot Hennessy Louis Vuitton, a multinational luxury goods company, had sales increase by about 167% in 2021. The announcement followed a partnership between LVMH and diamond jewelry powerhouse Tiffany & Co. More than $10 billion US dollars was earned in 2021 thanks to this market area.
Restraints
Diamonds are the most sought-after jewels because they are unique in that they are composed of a single element. Their usual carbon content is 99.95%. The high price of diamonds for consumer or industrial use can be attributed to these causes. Since making diamond jewelry is time-consuming and involves the assistance of highly experienced human resources, the brand selling the item also has an impact on the asking price. There are several elements that affect the price of a diamond, but generally speaking, a 1 carat diamond can cost anywhere from $1250 to $1700. It has the potential to have a significant effect on the future sales volume of the global diamond market.
Report Coverage
Global Diamond research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Diamond report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Diamond competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Diamond market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Diamond market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Diamond market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Rio Tinto Diamonds, De Beers Group, Alrosa-Nyurba, Petra Diamonds, Leviev Group, Lucara Diamond Corp, Dominion Diamond Mines, Graff Diamonds, Blue Nile, Chow Tai Fook, Signet Jewelers, Gem Diamonds, RioTinto, Trans Hex Group, Mountain Province Diamonds
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Diamond market based on the below-mentioned segments:
Global Diamond Market, By Product
Synthetic
Natural
Global Diamond market, By Application
Industrial
Jewelry
Global Diamond market, Regional Analysis
A diamond's sole component is carbon. One of the most sought-after minerals in the world. Diamond is the hardest naturally occurring mineral that has been studied or used in industry. Since its commercialization, diamonds have gradually come to be regarded as one of the world's most valuable gemstones. However, the mineral's unique chemical and physical features also make it useful in a wide variety of industrial contexts. Diamonds are special and highly sought after for a number of reasons, including their fire, brilliance, and durability. They are currently located in kimberlite pipes, glacial tills, and alluvial gravel deposits. Researchers say that the carbon used to create diamonds comes from the melting of preexisting rocks located in the upper mantle of the planet, which explains why diamonds are often discovered between 70 and 120 miles below the surface. Demand and use of diamonds in industry and jewelry have skyrocketed during the past several years.
Diamond Industry Developments
Demand for jewelry made with lab-grown diamonds is the industry's primary growth driver. The dramatic drop in their production costs is responsible for this. After the release of Lightbox, De Beers Group's first line of synthetic diamond jewelry, the price per carat for lab-grown diamonds made using Chemical Vapor Deposition technology increased to between US$300 and US$500. In 2008, the same product was priced for $4,000. Lab-grown diamond prices fell dramatically as their production costs went down. In fact, the price of a lab-grown diamond good enough for jewelry has dropped by almost half since 2016. As production efficiency increase and new rivals enter the market, it is expected that prices will continue to fall. The IGDA suggests that the jewelry industry has a tremendous amount of room to grow to accommodate lab-grown diamonds.
Consumers, especially millennials, are drawn to lab-grown diamonds because they allow them to upgrade in size and quality for the same price as a smaller mined real diamond, according to a 2018 poll by the IGDA. Lab-grown diamonds are becoming increasingly popular because they provide customers with a legal alternative to mined diamonds without the associated ethical and environmental concerns. The result is expected to increase demand for diamonds over the projection period. The expansion of the building sector also helps propel demand for diamonds. The industrial use of diamonds has increased dramatically in recent years. The global market for industrial diamonds is primarily driven by the expanding construction sector. Diamonds are utilized for a wide variety of tasks in the building sector, including cutting, drilling, polishing, and grinding. Glass, concrete, bricks, stones, coal balls, and ceramics can all be shaped with the help of industrial diamonds.
Drivers
Rising demand is anticipated in the global diamond market as a result of rising diamond prices. Many consumers view these commodities as investments for the future, especially diamonds, whose value rises steadily. The "Kohinoor," the largest and most famous diamond in the world, is now worth more than $19.2 billion. Demand for diamonds of all sizes and shapes has increased over the past few years, aided in part by rising global incomes and a shift in how diamonds are viewed as an investment. The jewelry and watches division of LVMH Mot Hennessy Louis Vuitton, a multinational luxury goods company, had sales increase by about 167% in 2021. The announcement followed a partnership between LVMH and diamond jewelry powerhouse Tiffany & Co. More than $10 billion US dollars was earned in 2021 thanks to this market area.
Restraints
Diamonds are the most sought-after jewels because they are unique in that they are composed of a single element. Their usual carbon content is 99.95%. The high price of diamonds for consumer or industrial use can be attributed to these causes. Since making diamond jewelry is time-consuming and involves the assistance of highly experienced human resources, the brand selling the item also has an impact on the asking price. There are several elements that affect the price of a diamond, but generally speaking, a 1 carat diamond can cost anywhere from $1250 to $1700. It has the potential to have a significant effect on the future sales volume of the global diamond market.
Report Coverage
Global Diamond research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Diamond report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Diamond competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Diamond market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Rio Tinto Diamonds, De Beers Group, Alrosa-Nyurba, Petra Diamonds, Leviev Group, Lucara Diamond Corp, Dominion Diamond Mines, Graff Diamonds, Blue Nile, Chow Tai Fook, Signet Jewelers, Gem Diamonds, RioTinto, Trans Hex Group, Mountain Province Diamonds |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Diamond Market from 2021 to 2030.
- Market Forecast for Diamond Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Diamond competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Diamond
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Diamond market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Diamond market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Rio Tinto Diamonds, De Beers Group, Alrosa-Nyurba, Petra Diamonds, Leviev Group, Lucara Diamond Corp, Dominion Diamond Mines, Graff Diamonds, Blue Nile, Chow Tai Fook, Signet Jewelers, Gem Diamonds, RioTinto, Trans Hex Group, Mountain Province Diamonds
Primary Target Market
- Market Players of Diamond
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Diamond market based on the below-mentioned segments:
Global Diamond Market, By Product
Synthetic
Natural
Global Diamond market, By Application
Industrial
Jewelry
Global Diamond market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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