$15.9 Bn CVD Lab-Grown Diamonds Markets - Global Forecast to 2027 with De Beers, Sumitomo Electric Industries, Goldiam, and Adamas One Dominating

DUBLIN, March 21, 2023 /PRNewswire/ -- The "CVD Lab-Grown Diamonds Market - Global Forecast to 2027" report has been added to  ResearchAndMarkets.com's offering.

The CVD lab-grown diamonds market is projected to grow from USD 11.3 billion in 2022 to USD 15.9 billion by 2027, at a CAGR of 7.1% from 2022 to 2027.

The global market for CVD lab-grown diamonds is driven by the considerably low cost of these gems along with the lower environmental impact caused during the CVD manufacturing process as compared to the mining of natural diamonds.

By type, the rough diamonds segment is projected to be the largest through the forecast period.

Based on type, the rough segment is projected to hold the largest share through the forecast period. This dominance is attributed to the identical properties of CVD diamonds as compared to mined diamonds, making them suitable for the development of industrial tools for cutting and abrasive applications.

In fact, according to the US Geological Survey, about 99% of the industrial diamond tools manufactured in the US are developed using CVD lab-grown diamond technology. Rough diamonds are not only used in abrasive applications but are also utilized in electronics and healthcare applications.

With the demand growth in the nanoelectronics and quantum electronics sectors, the market prospects of this segment are projected to brighten through the forecast period.

The colored segment is projected to grow at the highest CAGR during the forecast period.

Based on the color, the colored segment is projected to grow at the highest CAGR during the forecast period. Colored diamonds are sought by consumers for differentiating their jewelry from commonly available colorless counterparts.

Thus. colored CVD lab-grown diamonds are swiftly gaining popularity as gemstones. As greater control could be exerted during the production of CVD lab-grown diamonds, these diamonds could be rightly colored as per the requirement of the client.

Some optic companies require specifically colored diamonds for state-of-the-art applications, which shall further lead to a push in demand for colored CVD diamonds in the global market.

The machine & cutting tools segment shall account for the maximum demand for CVD lab-grown diamonds.

Based on the application, the machine & cutting tolls segment is estimated to account for the largest share through the forecast period. Diamond classifies as one of the strongest naturally available materials to mankind, with a score of 10 on Mohs hardness scale.

Hence, it is largely being used for machining and cutting other high-strength materials such as metals, plastics, and ceramics. However, as CVD lab-grown diamonds are considerably cheaper and are produced with higher control on quality in about 2-3 months as compared to the centuries required for natural diamonds, they are swiftly replacing mined diamonds in abrasive application areas.

North America is projected to be the largest regional market for CVD lab-grown diamonds during the forecast period.

North America is projected to hold the dominant share in the CVD lab-grown diamond market through the forecast period. The US is the largest consumer of CVD lab-grown diamonds owing to rising demand from both industrial as well as gemstone sectors. The US is one of the largest manufacturing countries for cutting & machine tools.

Also, the automotive and aerospace industries in the region have presented large demand for diamond tools for cutting and shaping materials such as carbon fiber-reinforced plastics (CFRP). On the other hand, owing to their lower cost, the millennial generation in the US has started considering the purchase of CVD diamonds for their jewelry products.

According to a survey by Natural Diamond Council (NDC), about 70% of the millennials and gen Z are considering buying lab-grown diamonds for their engagement rings and jewelry creations. Thus, it is projected that the demand for CVD lab-grown diamonds shall further inflate through the forecast period.

Competitive landscape

Some of the key players in the CVD lab-grown diamonds market are De Beers (UK), Sumitomo Electric Industries Ltd. (Japan), Goldiam (India), and Adamas One Corp. (US).

Premium Insights

• Low Carbon Footprint of Manufacturing Process to Drive Demand for CVD Lab-Grown Diamonds
• Rough Diamonds to Lead Overall Market
• Colorless Diamonds to Dominate Market by 2027 (Thousand Carats)
• Gemstones to Register Highest Market Growth Rate
• Cutting & Machine Tools Segment and Us to Lead North American Market
• China to be Fastest-Growing Market (2022-2027)

Market Dynamics

Drivers

• Growing Interest in CVD Lab-Grown Diamonds in Gem and Jewelry Sectors
• Affordability Over Naturally Mined Diamonds
• Better Control Over Impurities

Restraints

• Unclear Long-Term Value
• Lack of Perceived Allure and Unfavorable Customer Outlook

Opportunities

• Potential Applications in Quantum Devices and Semiconductors

Challenges

• Resistance from Jewelers and Traders
• Challenges in CVD Diamond Manufacturing Process

Industrial Trends

History of Lab-Grown Diamonds

• Diamond Industry Transformation: Assessment of Short-Term and Long-Term Impact Factors
• Value Chain Analysis

Technology Analysis

• Diamond Formation Technology
• Ai Technology for Diamond Clarity Grading
• Blockchain Technology in Diamond Industry

Ecosystem Analysis

Case Study Analysis

• Study on Millennial Consumer Behavior
• Objective
• Solution Statement

Patent Analysis

• Patent Publication Trends
• Number of Patents Year-Wise (2014-2022)
• Insights
• Jurisdiction Analysis
• China Accounted for the Highest Number of Patents from 2014-2022
• Top Companies/Applicants
• Top Ten Companies/Applicants with Highest Number of Patents
• List of Major Patents

Regulatory Landscape

• Key Diamond Certification Labs
• Regulatory Bodies, Government Agencies, and Other Organizations

Company Profiles (Business Overview, Products Offered, Recent Developments, Analyst's View)

• ABD Diamonds Pvt. Ltd.
• Adamas One Corp
• Beijing Worldia Diamond Tools Co., Ltd.
• Bhanderi Lab Grown Diamonds Llp
• CVD Diamond Inc.
• DE Beers Group
• Delaware Diamond Knives, Inc.
• EDP Corporation
• Goldiam International Ltd.
• Grown Diamond Corporation
• Hebei Plasma Diamond Technology Co., Ltd.
• Henan Huanghe Whirlwind Co., Ltd.
• Heyaru Group
• IIA Technologies Pte. Ltd.
• Nova Diamant
• Ritani
• Shanghai Zhengshi Technology Co., Ltd.
• Sp3 Diamond Technologies
• Sumitomo Electric Industries, Ltd.
• Tomei Diamond Corporation
• Unidiamond Superabrasives
• Vibranium Lab

For more information about this report visit https://www.researchandmarkets.com/r/25uycn

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