Global Lab Grown Diamond Market Analysis, 2024-2030

The lab grown diamonds are synthetic diamonds and can be customized to various designs, shapes, and colors depending on the requirement.

The global lab grown diamond market reports reveals the inside information of the current market conditions. The lab grown diamond market is rapidly increasing its radius of influence across various national boundaries as per the research report. This global market for the lab grown diamonds is valued at US $ xxx million dollars in 2018 which is anticipated to reach a striking US $ xxx million dollars by the end of 2023 growing at a CAGR of xx%.

The lab grown diamonds have various applications and uses in today’s market. Lab grown diamonds are used in place of natural diamonds as they are easier to produce as well as they have similar properties of natural diamonds. Since they are produced in large quantities, the lab grown diamonds are used in every jewelry piece to give it an exquisite look. These diamonds are also available in various colors, unlike the natural diamond which exists in its purest white color.

The major factors that contribute to the growth of the lab grown diamond market include its various applications and significance around the world. Diamonds are the hardest and brightest allotropes of carbon. The jewelry making industry has utilized these lab-grown diamonds to the full extent, which led to its increasing demand. Also, lab grown diamonds have same properties as naturally occurring diamonds. The large-scale availability and production are the major cause for the growth of the lab grown diamond market.

Even though the lab grown diamond market has shown significant growth over the past few years, there are certain roadblocks facing it as well. Lab grown diamonds are causing distrust amongst its users, as the jewelry shops do not tell the customers whether the diamonds are synthetic or natural. Also, some stores also sell lab grown diamonds for the price of natural diamonds, which is much higher. These factors act as an impediment to the growth of the lab grown diamond market.

The major regions that are the biggest markets for lab grown diamondsare North America, the Middle East and Africa, Eastern Europe, Western Europe, the Asia Pacific. In the upcoming years, the Asia Pacific is expected to be the leading producer of lab grown diamonds followed by North America.

The key players in the lab grown diamond market include Tomei Diamond Corporation Limited, Element Six and the Scio Diamond Technology Corporation. Other important manufacturers and suppliers of these lab grown diamonds include Washington Diamonds Corporation and Sandvik AB.

Our Approach

The research procedure involves the market segmentation of the global lab grown diamond, identification of the growth elements influencing every segment and then conducting market forecast. The market forecasts are held by taking inputs from the market leaders from across the global lab grown diamond industry value chain. Market Krystal held over 40 interviews dedicated for this study, all of which are mentioned below:

By company type:

Manufacturers (50%), Suppliers (20%), Consumers (20%), Researchers (5%), Independent industry consultant (5%)

By geography:

North America (45%), Asia (30%), Europe (25%)

By designation:

Top level (35%), Operation level (35%), Mid-level (30%)

Contents of the report:

• Insights on the global lab grown diamond industry dynamics
• Estimation of the current global lab grown diamond market size in terms of value and volume
• Global lab grown diamond market breakup based on product type (dust, bort, grit, stone, powder), manufacturing process (chemical vapor deposition, high pressure high temperature), end-user (jewelry, electronics, healthcare, construction, others), and geography (North America, Europe, Asia-Pacific, Middle East, Africa & Latin America)
• Substantiated global lab grown diamond market forecast for the next five years
• In detail analysis of the key companies working across different nodes of global lab grown diamond industry value chain