Press release
Lab Grown Diamonds Market: Research and Analysis for 2024-2033
Lab Grown Diamonds Market
The Business Research Company presents an extensive market research report on the Lab Grown Diamonds Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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 in the historic period can be attributed to rise in demand for jewellery, adoption of lavish lifestyle, demand for cvd methods, demand for diamonds, disposable income.
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 growth in the forecast period can be attributed to increasing laser technology, increase in adoption of fashion and jewelry, rising consumer adoption, demand for synthetic stones, economic growth. Major trends in the forecast period include advanced developments, product innovation, cvd technology, laser technology, increase in collabrations.
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Key Market Players:
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
Market Drivers:
A rise in demand for diamonds is expected to propel the lab-grown diamond market going forward. Diamonds are precious gemstones with carbon atoms arranged in a crystal lattice structure. Lab-grown diamonds offer several practical uses and advantages across various industries, such as jewelry manufacturing, electronics, and healthcare. For instance, in January 2021, according to Alrosa, a Russia-based diamond mining company, sales of raw and polished diamonds brought in a total of $4,169 million; rough diamond sales brought in $3,977 million; and polished diamond sales brought in $192 million. Therefore, the demand for diamonds is driving the lab-grown diamond market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/lab-grown-diamonds-global-market-report
The lab grown diamonds market covered in this report is segmented -
1) By Type: Polished, Rough
2) 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
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