The global diamond market size is expected to reach USD 50.23 billion by 2030, expanding at a CAGR of 3.3% from 2025 to 2030. The market is mainly driven by strong jewelry demand from emerging economies.
Natural diamonds dominated the market in 2022 as they are one of the hardest materials available on earth and are mainly utilized for jewelry applications. Industrial applications of natural diamond account for a comparatively smaller share as compared to their synthetic counterparts, while their share in jewelry application is expected to gain prominence over the coming years.
Synthetic or lab grown diamonds were mainly used for industrial purposes, however, in recent years, the market has witnessed significant investments in synthetic production technologies for making quality products intended for jewelry applications. Approximately 2% of the diamond jewelry sold in 2018 was estimated to be produced synthetically or in a lab.
Major players in the market are making considerable investments in mining rough diamonds to sustain the rising demand. For instance, in October 2018, LUCAPA Diamond Company announced about the commencement of full scale diamond mining at its Mothae Mine in Mokhotlong. The recoveries from the mine are being processed through a plant, which has an annual capacity of 1.1 million ton. The company expects to double the capacity to 2.2 million ton per annum by 2021.
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Natural diamonds dominated the market in 2022 as they are one of the hardest materials available on earth and are mainly utilized for jewelry applications. Industrial applications of natural diamond account for a comparatively smaller share as compared to their synthetic counterparts, while their share in jewelry application is expected to gain prominence over the coming years.
Synthetic or lab grown diamonds were mainly used for industrial purposes, however, in recent years, the market has witnessed significant investments in synthetic production technologies for making quality products intended for jewelry applications. Approximately 2% of the diamond jewelry sold in 2018 was estimated to be produced synthetically or in a lab.
Major players in the market are making considerable investments in mining rough diamonds to sustain the rising demand. For instance, in October 2018, LUCAPA Diamond Company announced about the commencement of full scale diamond mining at its Mothae Mine in Mokhotlong. The recoveries from the mine are being processed through a plant, which has an annual capacity of 1.1 million ton. The company expects to double the capacity to 2.2 million ton per annum by 2021.
Diamond Market Report Highlights
- Diamond prices have remained volatile into 2024, influenced by factors like inflation, currency fluctuations, and shifting consumer preferences. After a rebound in 2023, diamond prices rose in the year's first half, driven by strong demand, but softened in the latter half due to economic uncertainties.
- The synthetic diamond segment is projected to grow at the fastest compound annual growth rate (CAGR) in the coming years, driven by advancements in production techniques like High-Pressure, High-Temperature (HPHT), and Chemical Vapor Deposition (CVD).
- North America held over 51% revenue share of the global diamond market.The diamond market in the U.S. is driven by consumer demand for both natural and lab-grown diamonds.
- The diamond market in Asia Pacific is witnessing growing usage of jewelry and ornaments in developing nations such as China and India, fueling the demand for diamonds in the region.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, and Scope
Chapter 4. Diamond Market: Type Estimates & Trend Analysis
Chapter 5. Diamond Market: Application Estimates & Trend Analysis
Chapter 6. Diamond Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Petra Diamonds Limited
- Rio Tinto
- Trans Hex Group
- Lucara Diamond
- ALROSA
- De Beers
- Mountain Province Diamonds
- Arctic Canadian Diamond Company
- Gem Diamonds
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 90 |
Published | November 2024 |
Forecast Period | 2024 - 2030 |
Estimated Market Value ( USD | $ 41.49 Billion |
Forecasted Market Value ( USD | $ 50.23 Billion |
Compound Annual Growth Rate | 3.3% |
Regions Covered | Global |
No. of Companies Mentioned | 9 |