The lab grown diamonds market size has grown rapidly in recent years. It will grow from $23.3 billion in 2023 to $25.68 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth observed in the historic period can be attributed to factors such as the rise in demand for jewelry, the adoption of a lavish lifestyle, increased demand for diamonds, particularly those produced through chemical vapor deposition (CVD) methods, and a higher level of disposable income among consumers. These factors collectively contributed to the expansion of the lab-grown diamonds market during that period.
The lab grown diamonds market size is expected to see strong growth in the next few years. It will grow to $35.97 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The anticipated growth in the forecast period can be attributed to the increasing use of laser technology, a rise in the adoption of fashion and jewelry, growing consumer acceptance of lab-grown diamonds, the demand for synthetic stones as an ethical and sustainable alternative, and overall economic growth. Major trends expected in the forecast period include advanced developments in lab-grown diamond technology, ongoing product innovation, the utilization of chemical vapor deposition (CVD) and laser technologies, and an increase in collaborations within the industry.
The anticipated rise in demand for diamonds is set to propel the lab-grown diamond market in the coming years. Diamonds, as precious gemstones, have carbon atoms arranged in a crystal lattice structure. Lab-grown diamonds offer practical uses and advantages across diverse industries, including jewelry manufacturing, electronics, and healthcare. According to Alrosa, a Russia-based diamond mining company, in January 2021, sales of raw and polished diamonds generated a total of $4.16 billion. Rough diamond sales accounted for $3.97 billion, while polished diamond sales contributed $192 million. This surge in demand for diamonds is a key factor driving the growth of the lab-grown diamond market.
Major players in the lab-grown diamond market are actively focused on developing innovative products, particularly colored lab-grown diamonds, to enhance their market position. Colored lab-grown diamonds are artificially created in a laboratory setting and exhibit various colors due to trace elements, radiation, or other treatments during their formation. For example, in August 2023, Cullen Jewellery, an Australian-based company specializing in fine jewelry, introduced its inaugural collection of colored lab-grown diamonds, 'Love in Colour.' This collection features pink, yellow, and blue shades, complementing the brand's existing inventory of colored moissanite gemstones that have earned the Radiant Beauty certification, symbolizing excellence.
In January 2021, WD Labs, a US-based producer of laboratory-grown diamonds, acquired J2 Materials for an undisclosed amount. This acquisition allows WD Labs to expand its capabilities in growing high-quality diamonds and producing high-performance diamond substrates for various applications, including optics for advanced synchrotron sources, quantum computer logic, and semiconductors. Simultaneously, it strengthens WD Labs' intellectual property portfolio. J2 Materials LLC, the acquired company, is a US-based manufacturer of chemical vapor deposition (CVD) diamonds in laboratories, catering to the semiconductor and jewelry sectors. This strategic acquisition reinforces WD Labs' position in the lab-grown diamond market and its commitment to advancing diamond-related technologies.
Major companies operating in the lab grown diamonds market report are De Beers Group, Swarovski AG, Henan Huanghe Whirlwind Co. Ltd., Diamond Foundry Inc., Chatham Created Gems, New Diamond Technology (NDT), MiaDonna, IIa Technologies, Washington Diamonds Corporation, Clean Origin LLC., WD Labs, Apollo Diamond Inc., Ada Diamonds, ABD Diamonds Pvt. Ltd., ALTR Created Diamonds, Scio Diamond Technology Corporation, Diam Concept, Applied Diamond Inc., Mittal Diamonds, Pure Grown Diamonds, Renaissance Diamonds, M7D Corporation, Taidiam Technology, BDI - Brevard Diamonds Inc., AOTC Group, Fenix Diamonds, Tolkowsky Diamonds, EcoStar Diamond, Tairus Created Diamonds.
Asia-Pacific was the largest region in the lab grown diamonds market in 2023. The regions covered in the lab grown diamonds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the lab grown diamonds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The lab grown diamonds market consists of sales of grinding wheels, surgical tools, wedding bands, and optics for lasers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
Lab-grown diamonds, also known as synthetic or cultured diamonds, are produced in a laboratory setting rather than being naturally formed within the Earth's mantle. These diamonds showcase identical physical, chemical, and optical characteristics as their natural counterparts and share the same exceptional qualities of fire, scintillation, and brilliance.
The primary types of the lab-grown diamonds market are polished and rough. Polished diamonds undergo a process to refine the surface, achieving a smooth and glass-such as finish. Diamonds come in various natures, including colorless and colored. The manufacturing processes involved in lab-grown diamonds include high pressure high temperature (HPHT) and chemical vapor deposition (CVD). Lab-grown diamonds find applications in various sectors such as construction and mining, jewelry, healthcare, electronics, and other diverse applications.
The lab grown diamonds market research report is one of a series of new reports that provides lab grown diamonds market statistics, including the lab grown diamonds industry global market size, regional shares, competitors with a lab grown diamonds market share, detailed lab grown diamonds market segments, market trends and opportunities, and any further data you may need to thrive in the lab grown diamonds industry. This lab grown diamonds market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The lab grown diamonds market size is expected to see strong growth in the next few years. It will grow to $35.97 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The anticipated growth in the forecast period can be attributed to the increasing use of laser technology, a rise in the adoption of fashion and jewelry, growing consumer acceptance of lab-grown diamonds, the demand for synthetic stones as an ethical and sustainable alternative, and overall economic growth. Major trends expected in the forecast period include advanced developments in lab-grown diamond technology, ongoing product innovation, the utilization of chemical vapor deposition (CVD) and laser technologies, and an increase in collaborations within the industry.
The anticipated rise in demand for diamonds is set to propel the lab-grown diamond market in the coming years. Diamonds, as precious gemstones, have carbon atoms arranged in a crystal lattice structure. Lab-grown diamonds offer practical uses and advantages across diverse industries, including jewelry manufacturing, electronics, and healthcare. According to Alrosa, a Russia-based diamond mining company, in January 2021, sales of raw and polished diamonds generated a total of $4.16 billion. Rough diamond sales accounted for $3.97 billion, while polished diamond sales contributed $192 million. This surge in demand for diamonds is a key factor driving the growth of the lab-grown diamond market.
Major players in the lab-grown diamond market are actively focused on developing innovative products, particularly colored lab-grown diamonds, to enhance their market position. Colored lab-grown diamonds are artificially created in a laboratory setting and exhibit various colors due to trace elements, radiation, or other treatments during their formation. For example, in August 2023, Cullen Jewellery, an Australian-based company specializing in fine jewelry, introduced its inaugural collection of colored lab-grown diamonds, 'Love in Colour.' This collection features pink, yellow, and blue shades, complementing the brand's existing inventory of colored moissanite gemstones that have earned the Radiant Beauty certification, symbolizing excellence.
In January 2021, WD Labs, a US-based producer of laboratory-grown diamonds, acquired J2 Materials for an undisclosed amount. This acquisition allows WD Labs to expand its capabilities in growing high-quality diamonds and producing high-performance diamond substrates for various applications, including optics for advanced synchrotron sources, quantum computer logic, and semiconductors. Simultaneously, it strengthens WD Labs' intellectual property portfolio. J2 Materials LLC, the acquired company, is a US-based manufacturer of chemical vapor deposition (CVD) diamonds in laboratories, catering to the semiconductor and jewelry sectors. This strategic acquisition reinforces WD Labs' position in the lab-grown diamond market and its commitment to advancing diamond-related technologies.
Major companies operating in the lab grown diamonds market report are De Beers Group, Swarovski AG, Henan Huanghe Whirlwind Co. Ltd., Diamond Foundry Inc., Chatham Created Gems, New Diamond Technology (NDT), MiaDonna, IIa Technologies, Washington Diamonds Corporation, Clean Origin LLC., WD Labs, Apollo Diamond Inc., Ada Diamonds, ABD Diamonds Pvt. Ltd., ALTR Created Diamonds, Scio Diamond Technology Corporation, Diam Concept, Applied Diamond Inc., Mittal Diamonds, Pure Grown Diamonds, Renaissance Diamonds, M7D Corporation, Taidiam Technology, BDI - Brevard Diamonds Inc., AOTC Group, Fenix Diamonds, Tolkowsky Diamonds, EcoStar Diamond, Tairus Created Diamonds.
Asia-Pacific was the largest region in the lab grown diamonds market in 2023. The regions covered in the lab grown diamonds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the lab grown diamonds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The lab grown diamonds market consists of sales of grinding wheels, surgical tools, wedding bands, and optics for lasers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
Lab-grown diamonds, also known as synthetic or cultured diamonds, are produced in a laboratory setting rather than being naturally formed within the Earth's mantle. These diamonds showcase identical physical, chemical, and optical characteristics as their natural counterparts and share the same exceptional qualities of fire, scintillation, and brilliance.
The primary types of the lab-grown diamonds market are polished and rough. Polished diamonds undergo a process to refine the surface, achieving a smooth and glass-such as finish. Diamonds come in various natures, including colorless and colored. The manufacturing processes involved in lab-grown diamonds include high pressure high temperature (HPHT) and chemical vapor deposition (CVD). Lab-grown diamonds find applications in various sectors such as construction and mining, jewelry, healthcare, electronics, and other diverse applications.
The lab grown diamonds market research report is one of a series of new reports that provides lab grown diamonds market statistics, including the lab grown diamonds industry global market size, regional shares, competitors with a lab grown diamonds market share, detailed lab grown diamonds market segments, market trends and opportunities, and any further data you may need to thrive in the lab grown diamonds industry. This lab grown diamonds market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Lab Grown Diamonds Market Characteristics3. Lab Grown Diamonds Market Trends and Strategies32. Global Lab Grown Diamonds Market Competitive Benchmarking33. Global Lab Grown Diamonds Market Competitive Dashboard34. Key Mergers and Acquisitions in the Lab Grown Diamonds Market
4. Lab Grown Diamonds Market - Macro Economic Scenario
5. Global Lab Grown Diamonds Market Size and Growth
6. Lab Grown Diamonds Market Segmentation
7. Lab Grown Diamonds Market Regional and Country Analysis
8. Asia-Pacific Lab Grown Diamonds Market
9. China Lab Grown Diamonds Market
10. India Lab Grown Diamonds Market
11. Japan Lab Grown Diamonds Market
12. Australia Lab Grown Diamonds Market
13. Indonesia Lab Grown Diamonds Market
14. South Korea Lab Grown Diamonds Market
15. Western Europe Lab Grown Diamonds Market
16. UK Lab Grown Diamonds Market
17. Germany Lab Grown Diamonds Market
18. France Lab Grown Diamonds Market
19. Italy Lab Grown Diamonds Market
20. Spain Lab Grown Diamonds Market
21. Eastern Europe Lab Grown Diamonds Market
22. Russia Lab Grown Diamonds Market
23. North America Lab Grown Diamonds Market
24. USA Lab Grown Diamonds Market
25. Canada Lab Grown Diamonds Market
26. South America Lab Grown Diamonds Market
27. Brazil Lab Grown Diamonds Market
28. Middle East Lab Grown Diamonds Market
29. Africa Lab Grown Diamonds Market
30. Lab Grown Diamonds Market Competitive Landscape and Company Profiles
31. Lab Grown Diamonds Market Other Major and Innovative Companies
35. Lab Grown Diamonds Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Lab Grown Diamonds Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on lab grown diamonds market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Measure the impact of high global inflation on market growth.
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- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for lab grown diamonds ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The lab grown diamonds market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Polished; Rough2) By Nature: Colorless; Colored
3) By Manufacturing Process: High Pressure High Temperature (HPHT); Chemical Vapor Deposition (CVD)
4) By Application: Construction and Mining; Jewelry; Healthcare; Electronics; Others Applications
Key Companies Mentioned: De Beers Group; Swarovski AG; Henan Huanghe Whirlwind Co. Ltd.; Diamond Foundry Inc.; Chatham Created Gems
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- De Beers Group
- Swarovski AG
- Henan Huanghe Whirlwind Co. Ltd.
- Diamond Foundry Inc.
- Chatham Created Gems
- New Diamond Technology (NDT)
- MiaDonna
- IIa Technologies
- Washington Diamonds Corporation
- Clean Origin LLC.
- WD Labs
- Apollo Diamond Inc.
- Ada Diamonds
- ABD Diamonds Pvt. Ltd.
- ALTR Created Diamonds
- Scio Diamond Technology Corporation
- Diam Concept
- Applied Diamond Inc.
- Mittal Diamonds
- Pure Grown Diamonds
- Renaissance Diamonds
- M7D Corporation
- Taidiam Technology
- BDI - Brevard Diamonds Inc.
- AOTC Group
- Fenix Diamonds
- Tolkowsky Diamonds
- EcoStar Diamond
- Tairus Created Diamonds
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | March 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 25.68 Billion |
Forecasted Market Value ( USD | $ 35.97 Billion |
Compound Annual Growth Rate | 8.8% |
Regions Covered | Global |