Press release
Lab-Grown Diamonds Market to Reach US$ 55.45 Billion by 2032 at 10.10% CAGR, North America Leads with 38% Share | Key Players: ABD Diamonds, WD Advanced Materials, Adamas One, Henan Huanghe Whirlwind, BHANDERI, NDT, De Beers
Lab-Grown Diamonds
The shift toward environmentally responsible luxury is transforming industry dynamics, with consumers and brands prioritizing transparency and reduced ecological impact. Leading retailers are expanding lab-grown diamond collections, supported by marketing campaigns emphasizing quality, affordability and ethical assurance. Additionally, innovations in larger stone production, improved color grading and precision cutting are boosting adoption in premium jewelry and high-tech sectors, reinforcing the strong upward trajectory of the market.
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The Lab-Grown Diamonds Market is reshaping the jewelry industry with sustainable, conflict-free diamonds offering identical brilliance and quality at a fraction of the cost.
Key Developments
✅ May 2025: Jewelry manufacturers in the United States adopted AI-enabled grading and automated polishing technologies to enhance clarity precision and reduce production time for lab-grown diamonds amid rising consumer demand for affordable luxury.
✅ June 2025: Retail chains across Europe, especially in France and Germany, expanded their sustainable jewelry collections by integrating certified carbon-neutral lab-grown diamonds to meet ESG-focused consumer preferences.
✅ July 2025: Leading producers in China scaled high-pressure high-temperature (HPHT) reactors with improved energy efficiency, enabling faster crystal growth cycles and higher output for industrial-grade lab-grown diamonds.
✅ August 2025: Major jewelry brands in India introduced lab-grown diamond bridal collections supported by blockchain-based traceability systems to strengthen transparency and authenticity.
✅ September 2025: Research institutions in South Korea developed next-generation chemical vapor deposition (CVD) reactors capable of producing ultra-high-purity diamonds for advanced electronics and semiconductor applications.
✅ October 2025: Retailers in the United States launched trade-in and upgrade programs for lab-grown diamonds, increasing market adoption among budget-conscious millennials and Gen Z buyers.
Mergers & Acquisitions
✅ May 2025: A U.S.-based gemstone technology firm acquired a diamond-synthesis startup specializing in plasma-assisted CVD reactors to expand its high-quality gemstone production capabilities.
✅ July 2025: A European luxury conglomerate partnered with an Asian lab-grown diamond producer to secure long-term supply for sustainable jewelry collections.
✅ September 2025: A major diamond manufacturer in India formed a strategic alliance with a global semiconductor company to co-develop lab-grown diamonds for thermal management and photonics applications.
Key Players
ABD Diamonds | WD Advanced Materials, LLC | Adamas One Corp | Henan Huanghe Whirlwind Co., Ltd. | BHANDERI LAB GROWN DIAMONDS | New Diamond Technology | Mini Diamonds (I) Ltd. | SP3 Diamond Technologies LLP | Mittal Diamonds | De Beers Group
Key Highlights
ABD Diamonds - Holds an estimated 12.4% share, driven by its advanced CVD diamond production technologies, strong export footprint, and increasing demand for high-quality lab-grown diamonds.
WD Advanced Materials, LLC - Accounts for around 10.7% share, supported by its patented CVD growth technology, high-purity gemstone production, and expanding presence in the U.S. jewelry market.
Adamas One Corp - Maintains approximately 7.9% share, recognized for its premium gemstone-grade lab-grown diamonds and growing adoption across luxury and retail jewelry segments.
Henan Huanghe Whirlwind Co., Ltd. - Represents nearly 14.6% share, fueled by its large-scale HPHT diamond production capabilities, strong industrial diamond output, and global distribution network.
BHANDERI LAB GROWN DIAMONDS - Holds about 9.3% share, driven by its strong manufacturing expertise, expanding CVD product range, and rising demand across domestic and international markets.
New Diamond Technology - Accounts for around 11.8% share, supported by its development of ultra-large single-crystal diamonds and leadership in next-generation HPHT diamond synthesis.
Mini Diamonds (I) Ltd. - Maintains approximately 6.5% share, known for its commercial-scale production efficiency and consistent supply to global jewelry manufacturers.
SP3 Diamond Technologies LLP - Represents roughly 5.4% share, with strengths in advanced CVD diamond applications spanning electronics, optics, and high-precision tooling.
Mittal Diamonds - Holds an estimated 4.9% share, backed by its diversified lab-grown diamond portfolio and expanding customer base across key international regions.
De Beers Group - Accounts for approximately 16.5% share, driven by its Lightbox subsidiary, strong branding power, and continued investment in accessible, retail-focused lab-grown diamond offerings.
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Market Drivers
- Rising consumer preference for ethically sourced and eco-friendly diamonds over mined alternatives.
- Increasing adoption of lab-grown diamonds in jewelry due to lower cost, high purity, and customizable properties.
- Growing use of synthetic diamonds in industrial applications such as electronics, semiconductors, and cutting tools.
- Expansion of chemical vapor deposition (CVD) and high-pressure high-temperature (HPHT) technologies enabling high-quality production.
- Rising marketing efforts by jewelry brands promoting sustainability and transparency in the diamond supply chain.
- Increased acceptance of lab-grown diamonds among millennials and Gen Z driven by affordability and environmental awareness.
- Growing technological advancements improving color, clarity, and size consistency of synthetic diamonds.
Industry Developments
- Manufacturers expanded CVD and HPHT production facilities to meet rising global demand for lab-grown diamonds.
- Jewelry brands partnered with lab-grown diamond producers to launch sustainable, competitively priced product lines.
- Introduction of advanced grading and certification standards to validate the quality of synthetic diamonds.
- Development of high-tech lab-grown diamonds for electronics, quantum computing, and optical applications.
- Increased investments in automated production systems to reduce costs and improve output consistency.
Regional Insights
North America - 38% driven by "high consumer demand for sustainable luxury products, strong retail penetration of lab-grown jewelry, and rising adoption in tech applications."
Europe - 32% supported by "growing preference for ethical diamonds, expansion of sustainable fashion trends, and increasing adoption in industrial manufacturing."
Asia Pacific - 26% fueled by "rapid growth of jewelry markets, expanding production capacity in China and India, and rising consumer acceptance of lab-grown alternatives."
Latin America - 3% driven by "growing luxury goods consumption and increasing awareness of sustainable diamond options."
Middle East & Africa - 1% supported by "emerging demand for affordable gemstones and gradual expansion of synthetic diamond retail offerings."
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Key Segments
➥ By Manufacturing Method
High Pressure High Temperature (HPHT) remains a widely adopted manufacturing technique due to its cost-effectiveness, ability to produce large diamond volumes, and suitability for industrial-grade applications. It offers strong year-over-year growth as industries increasingly leverage HPHT diamonds for cutting, drilling, and high-strength tooling. Chemical Vapor Deposition (CVD) technology continues to gain rapid momentum for producing high-purity, high-quality diamonds used in electronics, optics, and luxury jewelry, driven by its precision and superior control over diamond characteristics.
➥ By Type
Polished diamonds dominate the market owing to their strong demand in jewelry, luxury accessories, and precision instruments, supported by continuous improvements in cutting technologies and finishing techniques. Rough diamonds are primarily utilized in industrial applications, including abrasives, heat spreaders, and specialized equipment, with steady growth driven by manufacturing, mining, and advanced engineering sectors.
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