Press release
CVD Lab-Grown Diamonds Market is Projected to Reach US$ 25.58 Billion Growing at a CAGR of 6.9% From 2025-2034
CVD Lab-Grown Diamonds Market
Market Explanation:
CVD signifies chemical vapor deposition and is usually referred to as diamonds grown in a laboratory through the procedure of chemical vapor deposition. They are man-made diamonds but are similar to natural diamonds. It is virtually impossible to differentiate between natural diamonds and chemical vapor deposition (CVD) diamonds without specific instruments. They are a favored preference amongst engagement ring and jewelry purchasers and are the most sought-after production methods.
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Some of the attributes of CVD diamonds are that they are of more moral origins, sustainable, and cost-effective. But one should know that they are of a lesser quality than HPHT diamonds. They have the required attributes of natural diamonds, holding the same interior framework, chemical configuration, and glossy beauty.
Market Growth Drivers:
Growing Environmental Awareness among Younger Generation:
Consumers, especially younger generations, are moving away from conventionally mined diamonds because of concerns about ecological influence and labor practices. Modern purchasers increasing classify moral sourcing, cost-effectiveness, and personalization while purchasing products.
Rising Usage in Various Industries:
Lab-grown diamonds are increasingly being utilized in advanced industries such as semiconductors, electronics, and medical devices as they have outstanding robustness, thermal conductivity, and optical attributes.
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Competitive Landscape:
The competitive landscape of the market is portrayed by fierce contention amidst critical contenders striving for market dominance.
Some of the prominent players operating in the CVD lab-grown diamonds market include:
• Anjali Diamonds Pvt Ltd.
• BHANDERI LAB GROWN DIAMONDS.
• De Beers plc
• Delaware Diamond Knives, Inc.
• Hebei Plasma Diamond Technology Co., Ltd.
• IIa Technologies.
• Ritani
• Shanghai Zhengshi Technology.
• SP3 Technologies LLP.
• VIBRANIUM LAB
CVD Lab-Grown Diamonds Market Report Highlights:
• In terms of color, the colorless segment led the CVD lab-grown diamonds market share in 2024, driven by its high demand in both the jewelry and industrial sectors.
• Based on type, the rough segment is anticipated to experience the fastest growth during the forecast period, fueled by its growing use in industrial applications and jewelry manufacturing processes.
• North America accounted for the largest share of the CVD lab-grown diamonds market revenue in 2024, supported by strong consumer demand, technological advancements, and a well-established jewelry industry.
• The Asia Pacific market is expected to witness the fastest growth during the forecast period, driven by increasing industrial applications and rising consumer demand for sustainable diamond alternatives.
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Segmental Analysis:
By Type Outlook (Revenue, USD Billion, 2020-2034)
• Rough
• Polished
By Color Outlook (Revenue, USD Billion, 2020-2034)
• Colored
• Colorless
By Application Outlook (Revenue, USD Billion, 2020-2034)
• Machine and Cutting tools
• Heat Sinks & Exchangers
• Optical, Laser and X-ray
• Electronics
• Healthcare Instruments
• Gemstone
• Others
Regional Outlook:
Regional augmentation policies in the CVD lab-grown diamonds market are also important with firms targeting emerging markets to benefit from the growing demand.
North America dominated the market in 2024 supported by robust consumer demand, technological progressions, and an entrenched jewelry industry. The region has a high consciousness of green and ethically sourced commodities, causing the growing adoption of lab-grown diamonds.
Asia Pacific is projected to witness the fastest growth during the forecast period, fuelled by growing industrial applications and growing consumer demand. The region is also encountering speedy economic advancements causing a rising working-class population with increased cash flow and developing luxury choices.
• North America
o Type Outlook
• Rough
• Polished
o Applications Outlook
• Machine and Cutting tools
• Heat Sinks & Exchangers
• Optical, Laser and X-ray
• Electronics
• Healthcare Instruments
• Gemstone
• Others
o Color Outlook
• Colored
• Colorless
• Asia Pacific
o Type Outlook
• Rough
• Polished
o Applications Outlook
• Machine and Cutting tools
• Heat Sinks & Exchangers
• Optical, Laser and X-ray
• Electronics
• Healthcare Instruments
• Gemstone
• Others
o Color Outlook
• Colored
• Colorless
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