Diamond Market Size, Share & Industry Analysis, By Type (Natural, Synthetic), By Application (Jewellery & Ornaments, Industrial) and Regional Forecast, 2021-2028

Diamond is an extremely rigid allotrope of carbon in which the carbon atoms are arranged in a diamond cubic structure. Diamond is the hardest material with the highest thermal conductivity of any natural material. Due to these properties, it has applications in industries like cutting and polishing. Natural diamonds ate obtained from earth’s mantle while synthetic diamonds are made from high purity carbon under high temperature and pressure and by the Chemical Vapour Deposition (CVD) technique.

Increase in construction activities shall drive the industry growth as it is used in hand sawing, core drilling, and wire sawing. Attributed to its exceptional properties like low thermal expansion coefficient, highest sound velocity and optical dispersion, low adhesion, optical transparency, and low friction it is adapted in several industrial applications which ultimately driving the market. Additionally, the use of this rare material as a gemstone for ornamentation is expected to drive the market.

Key Market Driver -

Increasing demand for diamond in construction industry.

Key Market Restraint -

Fluctuating prices of diamonds

However, the uncertainty in the prices of natural diamonds due to the availability and its demand is likely to hamper the market growth. But there are no production-related restraints for synthetic diamonds.

Market Segmentation:

Based on the type, the market is segmented into natural & synthetic. Based on application, the market is segmented into jewellery & ornaments and industrial.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The key players operating in the diamond market are De Beers, ALROSA, Applied Diamonds, Sumitomo Electric, Sino-Crystal, Henan Haunghe Whirlwind and Others.

Key Insights

• New Advancements in Production Technologies


• Key Trends in the Diamond market


• New Product Launches, Expansions, Key Players


• Ranking of Key Players in the Market

Regional Analysis:

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The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America diamond market is the largest market attributed to the high demand for wedding rings from women. Europe is estimated to be the second-largest market due to the increasing demand for fine jewellery and rings, bracelets and other jewellery pieces for various occasions like birthday, engagements and weddings. Moreover, Russia is the country having the largest diamond reserves. Millennials of Asia Pacific regions adorning diamond as a mark of standard. Additionally, the increasing industrialization is contributing to the demand for diamond. The Latin America and Middle East & Africa is expected to show moderate growth due to the Panama Diamond Exchange (PDE) jewellery trading centre.

Segmentation

Diamond Industry Developments

• In January 2020, De Beers Group announced a collaboration with RDI Diamonds Inc., for sourcing the diamond grading reports. This is the first step of the De Beers group in diamond grading activity.


• In November 2019, ALROSA enhanced the client experience by implementing Digital technologies in the trade. The company started full digital scanning of each rough diamonds for complete analysis.