This report provides a comprehensive analysis of the Global Lab Grown Diamond Market, including historical market sizes from 2019 to 2022 and forecasts for 2024 to 2031. The market is estimated to be valued at USD 24,000 Million in 2023 and is projected to grow to approximately USD 59,200 Million by 2031, reflecting a compound annual growth rate (CAGR) of 9.6% during the forecast period. This growth underscores the increasing demand for advanced data management solutions and highlights the importance of technological innovations in the sector.
The global lab-grown diamond market has witnessed significant growth due to increasing consumer awareness of ethical and sustainable alternatives to mined diamonds. Lab-grown diamonds, chemically and physically identical to natural diamonds, are produced using advanced technological processes, ensuring high quality and affordability. This market is driven by rising demand in the jewelry and industrial sectors, where their application includes cutting, drilling, and polishing. Environmental and ethical concerns have bolstered their appeal among eco-conscious consumers, while their cost-effectiveness compared to natural diamonds has expanded their accessibility. The market benefits from technological advancements in production methods, enabling faster growth and higher yields. Additionally, lab-grown diamonds cater to the rising preference for customizable and innovative designs, appealing to younger demographics. The expanding use of these diamonds in electronics and semiconductors further supports market growth, as they offer exceptional thermal and electrical properties. With growing investments in research and development, the lab-grown diamond market is poised for sustained expansion globally.
For the geography segment, regional supply, demand, major players, and price are presented from 2019 to 2031. This report covers the following regions:
North America
Asia-Pacific
Europe
Middle East and Africa
South America
Segments-
By Type:
Synthetic Diamonds
Polished Diamonds
Rough Diamonds
Others
Lab-grown diamonds are segmented into CVD (Chemical Vapor Deposition) and HPHT (High-Pressure High-Temperature) types. CVD diamonds dominate the market due to their cost-efficiency, scalability, and high purity levels, making them preferable for both industrial and jewelry applications. Meanwhile, HPHT diamonds are favored for their high-quality crystalline structure and ability to replicate natural diamond features, especially for high-end jewelry. The choice between these types often depends on application needs, production costs, and customer preferences.
By Material-
HPHT Diamonds
CVD Diamonds
Others
The market is categorized by material into gem-quality diamonds and industrial diamonds. Gem-quality diamonds are the primary driver of market growth, particularly in the luxury and wedding jewelry sectors, due to their aesthetic appeal and ethical sourcing. On the other hand, industrial diamonds are used extensively in sectors such as electronics, construction, and manufacturing, owing to their superior hardness, thermal conductivity, and precision-cutting capabilities.
By End-User-
Jewelry
Industrial
Research & Technology
Others
End-users include jewelry, electronics, and industrial sectors. Jewelry is the largest segment, propelled by growing consumer preference for affordable and ethical alternatives to natural diamonds. The electronics sector is emerging as a fast-growing segment, leveraging lab-grown diamonds for heat management in semiconductors and high-performance devices. In the industrial sector, their use in cutting, grinding, and drilling tools highlights their importance in heavy machinery and construction applications.
Key Players
De Beers Group
Diamond Foundry
ALTR Created Diamonds
Goldiam International
Adamas One Corp
Sumitomo Electric Industries Ltd
Bhanderi Lab-Grown Diamonds LLP
Henan Huanghe Whirlwind Co., Ltd
Clean Origin
Pandora
For the competitor segment, the report includes global key players and some small players. The information for each competitor includes:
Company Profile
Main Business Information
Financial Analysis
Market Share
Please ask for sample pages for the full company list
Base Year: 2023
Historical Data: from 2019 to 2022
Forecast Data: from 2024 to 2031
Any special requirements about this report, please let us know and we can provide a custom report.
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