Diamond Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Diamond Market
The diamond market size was valued at USD 94.19 billion in 2023, and the market is now projected to grow from USD 97.57 billion in 2024 to USD 138.66 billion by 2032, exhibiting a CAGR of 4.5% during the forecast period of 2024-2032.
The COVID-19 outbreak induced giant disruptions within the international jewelry market, with mine closures and constrained production due to lockdowns at sprucing and cutting facilities. Supply chains had been severely impacted as key players just like the U.S., India, China, and Russia carried out lockdown measures. While demand initially faltered, the market rebounded to pre-pandemic ranges, pushed by way of China's speedy financial restoration, highlighting its pivotal position in restoring international market stability.
The earrings marketplace is poised for growth due to diamonds' unique properties along with excessive thermal conductivity and durability, main to accelerated call for in numerous industries like creation, sharpening, and slicing. Ornamentation functions maintain to power diamond demand, similarly reinforced via the growing popularity of lab-grown diamonds imparting same bodily and optical houses to mined ones, prompting a shift towards synthetic rings amongst customers.
The earrings marketplace is experiencing boom fueled by converting patron preferences in the direction of colorful designs, riding demand for artificial diamonds and innovative rings offerings. This shift has created opportunities for both hooked up and new manufacturers, in addition to resellers, to seize marketplace percentage globally. The surge in online platforms has further improved rings intake, with consumers preferring online purchases for comfort, time-saving, and adherence to social distancing measures.
Comprehensive Analysis of Diamond Market
The diamond market growth is rising at an exponential rate due to its market segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by type analysis, by product analysis, by application analysis. By type analysis include, natural and synthetic. By product analysis include, rough and polished stone. By application analysis include, into jewelry and industrial application.
The North America region lead the diamond market share by benefitting a market size of USD 52.01 billion in 2023 due to the high disposable income and extensive use of the product in wedding jewelry.
The top players in the market play an important role in the industry assuring market expansion and setting market level. These players include, KGK Group, De Beers, Rio Tinto, Arctic Canadian Diamond Company Ltd, Petra Diamonds, Alrosa, Argyle, WD Lab Grown Diamonds, Gem Diamonds, Sagar Diamonds, these market players provide a level-playing competitive landscape.
In January 2022, the recovery of the largest fancy vivid yellow diamond in Canada by Arctic Canadian Diamond Company Ltd. promises substantial revenue gains for the company.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 4.5% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Type
Synthetic
Natural
By Product
Rough
Polished
By Application
Jewelry
Industrial
By Geography
North America (By Type, By Product, By Application, By Country)
- U.S. (By Application)
- Canada (By Application)
Europe (By Type, By Product, By Application, By Country)
- Germany (By Application)
- Italy (By Application)
- Russia (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Type, By Product, By Application, By Country)
- China (By Application)
- Japan (By Application)
- India (By Application)
- Taiwan (By Application)
- Rest of Asia Pacific (By Application)
Rest of World (By Type, By Product, By Application, By Country)
- Latin America (By Application)
Middle East & Africa (Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Regions
- 4.2. Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 4.6. Impact of COVID-19 on Global Diamond Market
- 5. Global Diamond Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. By Type (Value)
- 5.2.1. Synthetic
- 5.2.2. Natural
- 5.3. By Product (Value)
- 5.3.1. Rough
- 5.3.2. Polished
- 5.4. By Application (Value)
- 5.4.1. Jewelry
- 5.4.2. Industrial
- 5.5. By Region (Value)
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Rest of World
- 6. North America Diamond Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. By Type (Value)
- 6.2.1. Synthetic
- 6.2.2. Natural
- 6.3. By Product (Value)
- 6.3.1. Rough
- 6.3.2. Polished
- 6.4. By Application (Value)
- 6.4.1. Jewelry
- 6.4.2. Industrial
- 6.5. By Country (Value)
- 6.5.1. U.S
- 6.5.1.1. By Application (Value)
- 6.5.1.1.1. Jewelry
- 6.5.1.1.2. Industrial
- 6.5.2. Canada
- 6.5.2.1. By Application (Value)
- 6.5.2.1.1. Jewelry
- 6.5.2.1.2. Industrial
- 7. Europe Diamond Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. By Type (Value)
- 7.2.1. Synthetic
- 7.2.2. Natural
- 7.3. By Product (Value)
- 7.3.1. Rough
- 7.3.2. Polished
- 7.4. By Application (Value)
- 7.4.1. Jewelry
- 7.4.2. Industrial
- 7.5. By Country (Value)
- 7.5.1. Germany
- 7.5.1.1. By Application (Value)
- 7.5.1.1.1. Jewelry
- 7.5.1.1.2. Industrial
- 7.5.2. Italy
- 7.5.2.1. By Application (Value)
- 7.5.2.1.1. Jewelry
- 7.5.2.1.2. Industrial
- 7.5.3. Russia
- 7.5.3.1. By Application (Value)
- 7.5.3.1.1. Jewelry
- 7.5.3.1.2. Industrial
- 7.5.4. Rest of Europe
- 7.5.4.1. By Application (Value)
- 7.5.4.1.1. Jewelry
- 7.5.4.1.2. Industrial
- 8. Asia-Pacific Diamond Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. By Type (Value)
- 8.2.1. Synthetic
- 8.2.2. Natural
- 8.3. By Product (Value)
- 8.3.1. Rough
- 8.3.2. Polished
- 8.4. By Application (Value)
- 8.4.1. Jewelry
- 8.4.2. Industrial
- 8.5. By Country (Value)
- 8.5.1. China
- 8.5.1.1. By Application (Value)
- 8.5.1.1.1. Jewelry
- 8.5.1.1.2. Industrial
- 8.5.2. Japan
- 8.5.2.1. By Application (Value)
- 8.5.2.1.1. Jewelry
- 8.5.2.1.2. Industrial
- 8.5.3. India
- 8.5.3.1. By Application (Value)
- 8.5.3.1.1. Jewelry
- 8.5.3.1.2. Industrial
- 8.5.4. Taiwan
- 8.5.4.1. By Application (Value)
- 8.5.4.1.1. Jewelry
- 8.5.4.1.2. Industrial
- 8.5.5. Rest of Asia Pacific
- 8.5.5.1. By Application (Value)
- 8.5.5.1.1. Jewelry
- 8.5.5.1.2. Industrial
- 9. Rest of World Diamond Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. By Type (Value)
- 9.2.1. Synthetic
- 9.2.2. Natural
- 9.3. By Product (Value)
- 9.3.1. Rough
- 9.3.2. Polished
- 9.4. By Application (Value)
- 9.4.1. Jewelry
- 9.4.2. Industrial
- 9.5. By Sub-Region (Value)
- 9.5.1. Latin America
- 9.5.1.1. By Application (Value)
- 9.5.1.1.1. Jewelry
- 9.5.1.1.2. Industrial
- 9.5.2. Middle East & Africa
- 9.5.2.1. By Application (Value)
- 9.5.2.1.1. Jewelry
- 9.5.2.1.2. Industrial
- 10. Company Profiles
- 10.1. KGK Group
- 10.1.1. Overview
- 10.1.2. Description
- 10.1.3. Product Portfolio
- 10.1.4. Financials (Data as available in public domain and/or on paid databases)
- 10.1.5. Recent Developments
- 10.2. De Beers
- 10.2.1. Overview
- 10.2.2. Description
- 10.2.3. Product Portfolio
- 10.2.4. Financials (Data as available in public domain and/or on paid databases)
- 10.2.5. Recent Developments
- 10.3. Rio Tinto
- 10.3.1. Overview
- 10.3.2. Description
- 10.3.3. Product Portfolio
- 10.3.4. Financials (Data as available in public domain and/or on paid databases)
- 10.3.5. Recent Developments
- 10.4. ARCTIC CANADIAN DIAMOND COMPANY LTD
- 10.4.1. Overview
- 10.4.2. Description
- 10.4.3. Product Portfolio
- 10.4.4. Financials (Data as available in public domain and/or on paid databases)
- 10.4.5. Recent Developments
- 10.5. Petra Diamonds
- 10.5.1. Overview
- 10.5.2. Description
- 10.5.3. Product Portfolio
- 10.5.4. Financials (Data as available in public domain and/or on paid databases)
- 10.5.5. Recent Developments
- 10.6. Alrosa
- 10.6.1. Overview
- 10.6.2. Description
- 10.6.3. Product Portfolio
- 10.6.4. Financials (Data as available in public domain and/or on paid databases)
- 10.6.5. Recent Developments
- 10.7. Argyle
- 10.7.1. Overview
- 10.7.2. Description
- 10.7.3. Product Portfolio
- 10.7.4. Financials (Data as available in public domain and/or on paid databases)
- 10.7.5. Recent Developments
- 10.8. WD Lab Grown Diamonds
- 10.8.1. Overview
- 10.8.2. Description
- 10.8.3. Product Portfolio
- 10.8.4. Financials (Data as available in public domain and/or on paid databases)
- 10.8.5. Recent Developments
- 10.9. Gem Diamonds
- 10.9.1. Overview
- 10.9.2. Description
- 10.9.3. Product Portfolio
- 10.9.4. Financials (Data as available in public domain and/or on paid databases)
- 10.9.5. Recent Developments
- 10.10. Sagar Diamonds
- 10.10.1. Overview
- 10.10.2. Description
- 10.10.3. Product Portfolio
- 10.10.4. Financials (Data as available in public domain and/or on paid databases)
- 10.10.5. Recent Developments
- 11. Strategic Recommendations
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