Report ID: 10352278 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Lab-Grown (Synthetic) Diamonds Market Highlights Over 2019 - 2028
The global lab-grown (synthetic) diamonds market is estimated to garner a revenue of USD 32743.34 Million in the year 2028 by growing at a CAGR of 8.74% over the forecast period, i.e., 2021-2028. Moreover, in the year 2019, the market registered a revenue of USD 19145.33 Million. The growth of the market can be attributed to the growing use of lab diamonds in various end-use industries. Lab-grown diamonds are known to hold significance in many industries owing to their various electrical, chemical, thermal, and optical properties. Moreover, owing to their rigidity, these diamonds are also used across in machineries for several cutting and polishing purposes. Additionally, these diamonds are also used in the electronics industry and are being deployed in high-power switches at power stations. Apart from this, the use of lab-grown diamonds as gemstones and the lower price of these stones as compared to natural diamonds are also anticipated to drive market growth.
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The growth of the market can also be attributed to the fact that lab-grown diamonds can be produced sustainably without hampering the environment. Unlike synthetic diamonds, which require mining, lab-grown diamonds are manufactured inside a controlled environment in a laboratory, and hence the price of these diamonds is also very less. These diamonds also have a lower carbon footprint as compared to naturally mined diamonds. Besides this, the surge in trade in diamonds around the globe is also expected to boost the market growth in the coming years. According to the statistics by the International Trade Center (ITC), the value of imports of diamonds worldwide grew from USD 117264482 Thousand in the year 2015 to USD 130562696 Thousand in the year 2018.
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Global Lab-Grown (Synthetic) Diamonds Market Regional Synopsis
Regionally, the global lab-grown (synthetic) diamonds market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific is anticipated to drive the largest market revenue of USD 24603.35 Million by the end of 2028, up from a revenue of USD 14904.64 Million in the year 2019. The growth of the market in the region can primarily be attributed to the growing demand for gemstones and jewelry, especially in India, and to the presence of a strong electronic manufacturing hub in China. Besides this, China was also known to be the leading producer of synthetic industrial diamonds around the globe. According to the statistics by the United States Geological Survey (USGS), the annual production of synthetic industrial diamonds in China in the year 2019 exceeded 14.6 Billion Carats, resulting in the nation being the world’s leading producer. The market in the region is further segmented by country into China, India, Japan, Thailand, Australia, Rest of APAC. Out of these, the market in China is expected to garner the largest revenue of USD 14926.85 Million by the end of 2028, up from a revenue of USD 9132.07 Million in the year 2019.
Growth Drivers and Challenges Impacting the Growth of the Global Lab-Grown (Synthetic) Diamonds Market
Growth Drivers
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Increasing Demand for Lab-Grown Diamonds from End-Use Industries
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Rise in Focus for Environmentally Sustainable Production of Diamonds
Challenges
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Complex Manufacturing Process
Global Lab-Grown (Synthetic) Diamonds Market Segmentation Synopsis
The global lab-grown (synthetic) diamonds market is segmented by product into rough and polished, out of which, the rough segment is anticipated to garner the largest revenue by the end of 2028, while the polished segment is projected to grow with the highest CAGR of 9.43% during the forecast period. By manufacturing process, the market is segmented into high-pressure high temperature (HPHT), and chemical vapor deposition (CVD), out of which, the CVD segment is anticipated to garner the largest revenue by the end of 2028 and also grow with the highest CAGR during the forecast period. The market is also segmented by application into jewelry, electronics, optics, construction, satellite, data storage, semi-conductors, and others. Out of these, the construction segment is projected to display the largest revenue of USD 9756.67 Million by the end of 2028, up from a revenue of USD 6403.25 Million in the year 2019.
Key Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global lab grown (synthetic) diamonds market that are included in our report are Element Six UK Ltd. (De Beers Group), Sumitomo Electric Industries, Ltd., Swarovski AG, NEW DIAMOND TECHNOLOGY LLC, Pure Grown Diamonds, Sarine Group of Companies, Applied Diamond Inc., Iljin Diamond Co., Ltd., D.NEA, APPSILON ENTERPRISE, Eco Lab Diamonds, Nova Diamonds Pty Ltd., Parker Diamonds, Rio Tinto, De Beers Group, Charles & Colvard, Ltd., Blue Nile Inc., and others.
Latest Developments in the Global Lab-Grown (Synthetic) Diamonds Market:
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September 10th, 2020: Charles & Colvard, Ltd., announced that it has partnered with the iconic American department store, Macy’s for the sale of moissanite diamond fine jewelry in its fifty stores in New York city, San Francisco, and Chicago.
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September 21st, 2021: Element Six UK Ltd., a subsidiary of De Beers Group, announced that it has launched a new grade of diamond, DNV-B14, for application in quantum technologies, such as RF sensors, magnetic field devices, and solid-state gyroscopes among others.
Key Reasons to Buy Our Report
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The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.
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We provide customized reports as per the client's requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
1. Market Definition
1.1. Definition
1.2.Market Segmentation
2. Assumptions and Acronyms
3. Research Methodology
3.1.Research Process
3.2. Primary Research
3.3. Secondary Research
4. Executive Summary – Global Lab Grown (Synthetic) Diamonds Market
5. Market Lineage Outlook -Global Diamond Industry
6. Value Chain Analysis
7. End-User Outlook
8. Trade Outlook
9. Porters Five Forces Analysis
10. Consumer Behavior Analysis
11. Technology Framework
12.Regulatory Landscape
13.Analysis of Market Dynamics
13.1. Drivers
13.2. Restraints
13.3. Trends
14.Key Market Opportunities
15. Industry Risk Analysis
16.Competitive Landscape (Global)
16.1. Market Share Analysis, 2020
16.2. Company Profiles
16.2.1. Element Six UK Ltd. (De Beers Group)
16.2.2. Sumitomo Electric Industries, Ltd.
16.2.3. Swarovski AG
16.2.4. NEW DIAMOND TECHNOLOGY LLC
16.2.5. Pure Grown Diamonds
16.2.6. Sarine Group of Companies
16.2.7. Applied Diamond Inc.
16.2.8. Iljin Diamond Co., Ltd.
16.2.9. D.NEA
16.2.10. APPSILON ENTERPRISE
17. Competitive Landscape (Australia)
17.1. Market Share Analysis, 2020
17.2. Company Profiles
17.2.1. Eco Lab Diamonds
17.2.2. Nova Diamonds Pty Ltd.
17.2.3. Parker Diamonds
17.2.4. Rio Tinto
17.2.5. De Beers Group
17.2.6. Charles & Colvard, Ltd.
17.2.7. Blue Nile Inc.
18.Global Lab Grown (Synthetic) Diamonds Market 2020-2028
18.1. Market Overview
18.2. By Value (USD Million)
19.Global Lab Grown (Synthetic) Diamonds Market-Segmentation Analysis 2020-2028
19.1. By Product
19.1.1. Rough, 2019-2028F (USD Million)
19.1.2. Polished, 2019-2028F (USD Million)
19.2. By Manufacturing Process
19.2.1. High Pressure High Temperature (HPHT), 2019-2028F (USD Million)
19.2.2. Chemical Vapor Deposition (CVD), 2019-2028F (USD Million)
19.3. By Application
19.3.1. Jewelry, 2019-2028F (USD Million)
19.3.2. Electronics, 2019-2028F (USD Million)
19.3.2.1. High Power switches, 2019-2028F (USD Million)
19.3.2.2. High Frequency Transistors, 2019-2028F (USD Million)
19.3.2.3. Light Emitting Diodes (LEDs), 2019-2028F (USD Million)
19.3.2.4. Others, 2019-2028F (USD Million)
19.3.3. Optics, 2019-2028F (USD Million)
19.3.4. Construction, 2019-2028F (USD Million)
19.3.5. Satellite, 2019-2028F (USD Million)
19.3.6. Data Storage, 2019-2028F (USD Million)
19.3.7. Semi-Conductors, 2019-2028F (USD Million)
19.3.8. Others, 2019-2028F (USD Million)
19.4. By Region
19.4.1. North America, 2019-2028F (USD Million)
19.4.2. Europe, 2019-2028F (USD Million)
19.4.3. Asia Pacific, 2019-2028F (USD Million)
19.4.4. Latin America, 2019-2028F (USD Million)
19.4.5. Middle East & Africa, 2019-2028F (USD Million)
20. North America Lab Grown (Synthetic) Diamonds Market
20.1. Market Overview
20.2. Market Value (USD Million)
20.3. Market Segmentation:
20.3.1. By Product
20.3.1.1. Rough, 2019-2028F (USD Million)
20.3.1.2. Polished, 2019-2028F (USD Million)
20.3.2. By Manufacturing Process
20.3.2.1. High Pressure High Temperature (HPHT), 2019-2028F (USD Million)
20.3.2.2. Chemical Vapor Deposition (CVD), 2019-2028F (USD Million)
20.3.3. By Application
20.3.3.1. Jewelry, 2019-2028F (USD Million)
20.3.3.2. Electronics, 2019-2028F (USD Million)
20.3.3.2.1. High Power switches, 2019-2028F (USD Million)
20.3.3.2.2. High Frequency Transistors, 2019-2028F (USD Million)
20.3.3.2.3. Light Emitting Diodes (LEDs), 2019-2028F (USD Million)
20.3.3.2.4. Others, 2019-2028F (USD Million)
20.3.3.3. Optics, 2019-2028F (USD Million)
20.3.3.4. Construction, 2019-2028F (USD Million)
20.3.3.5. Satellite, 2019-2028F (USD Million)
20.3.3.6. Data Storage, 2019-2028F (USD Million)
20.3.3.7. Semi-Conductors, 2019-2028F (USD Million)
20.3.3.8. Others, 2019-2028F (USD Million)
20.3.4. By Country
20.3.4.1. United States, 2019-2028F (USD Million)
20.3.4.2. Canada, 2019-2028F (USD Million)
21.Europe Lab Grown (Synthetic) Diamonds Market
21.1. Market Overview
21.2. Market Value (USD Million)
21.3. Market Segmentation:
21.3.1. By Product
21.3.2. By Manufacturing Process
21.3.3. By Application
21.3.4. By Country
21.3.4.1. Germany
21.3.4.2. Russia
21.3.4.3. France
21.3.4.4. Italy
21.3.4.5. Sweden
21.3.4.6. Turkey
21.3.4.7. Ireland
21.3.4.8. Rest of Europe
22. Asia Pacific Lab Grown (Synthetic) Diamonds Market
22.1. Market Overview
22.2. Market Value (USD Million)
22.3. Market Segmentation:
22.3.1. By Product
22.3.2. By Manufacturing Process
22.3.3. By Application
22.3.4. By Country
22.3.4.1. Australia
22.3.4.2. China
22.3.4.3. India
22.3.4.4. Thailand
22.3.4.5. Rest of Asia Pacific
23. Latin America Lab Grown (Synthetic) Diamonds Market
23.1. Market Overview
23.2. Market Value (USD Million)
23.3. Market Segmentation:
23.3.1. By Product
23.3.2. By Manufacturing Process
23.3.3. By Application
23.3.4. By Country
23.3.4.1. Brazil
23.3.4.2. Mexico
23.3.4.3. Rest of Latin America
24. Middle East and Africa Lab Grown (Synthetic) Diamonds Market
24.1. Market Overview
24.2. Market Value (USD Million)
24.3. Market Segmentation:
24.3.1. By Product
24.3.2. By Manufacturing Process
24.3.3. By Application
24.3.4. By Country
24.3.4.1. Saudi Arabia
24.3.4.2. UAE
24.3.4.3. South Africa
24.3.4.4. Rest of Middle East & Africa
25. Cross Analysis of Product w.r.t. Application, 2020 (USD Million)
26. Analyst’s Review
Frequently Asked Question
The market is segmented by product, manufacturing process, application, and by region.
The construction segment is projected to display the largest revenue of USD 9756.67 Million by the end of 2028 and display significant growth opportunities.
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Report ID: 10352278 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
