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Lab Grown Diamonds Market Share , Size, Trends, Growth
Lab Grown Diamonds Market
As per the report, 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 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%.
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Diamond Sales Surge Propels Growth In The Lab-Grown Diamonds Market
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.
Lab-Grown Diamond Companies Introduce Colored Collections To Elevate Market Presence
Major companies operating in the lab-grown diamonds market are focused on developing innovative products, such as colored lab-grown diamonds, to strengthen their position in the market. Colored lab-grown diamonds are created through artificial processes in a laboratory setting and possess various colors due to certain trace elements, radiation, or other treatments during their formation. For instance, in August 2023, Cullen Jewellery, an Australian-based company specializing in fine jewelry, introduced its first-ever colored lab-grown diamonds collection, 'Love in Colour,' featuring pink, yellow, and blue shades. The latest collection beautifully enhances the brand's current inventory of colored moissanite gemstones that have earned the Radiant Beauty certification, a symbol of excellence.
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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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
Contents of the report:
1. Executive Summary
2. Lab Grown Diamonds Market Report Structure
3. Lab Grown Diamonds Market Trends And Strategies
4. Lab Grown Diamonds Market - Macro Economic Scenario
5. Lab Grown Diamonds Market Size And Growth
…..
27. Lab Grown Diamonds Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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