Diamond Market to Witness Huge Growth: USD 130.97 Billion By 2032 | Emergen Research

Rising demand for diamond jewelry especially in emerging countries is a major factor driving diamond market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, July 20, 2023/EINPresswire.com/ -- The global Diamond Market size was USD 97.10 Billion in 2022 and is expected to register a revenue CAGR of 3.0% during the forecast period, according to latest analysis by Emergen Research. Rising demand for diamond jewelry especially in emerging countries, increasing technological advancements adopted by major companies, and growing initiatives and investments by diamond manufacturers are some of the major factors driving the market revenue growth. In addition, rising use of diamonds in the construction industry is contributing to the market revenue growth.

The diamond market refers to the global industry that deals with the buying, selling, and distribution of diamonds. Diamonds are precious gemstones that are highly valued for their rarity, beauty, and durability. The diamond market encompasses various players, including diamond miners, manufacturers, wholesalers, retailers, and consumers.

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Rising demand for diamond jewelry especially in emerging countries is a major factor driving the market revenue growth. The popularity of diamonds is growing day by day as a result of increasing supply, superior cutting and polishing techniques, global economic prosperity, and imaginative and effective advertising strategies. Rising purchasing power.

Key aspects of the diamond market:

Diamond Mining: The process of extracting diamonds from the earth involves exploration, mining, and sorting. Major diamond-producing countries include Russia, Botswana, Canada, Angola, and South Africa.

Diamond Cutting and Polishing: Once diamonds are mined, they are sent to cutting and polishing centers where skilled artisans shape the rough diamonds into polished gemstones.

Diamond Grading and Certification: Independent gemological laboratories assess and grade diamonds based on the "Four Cs": cut, color, clarity, and carat weight. The most well-known grading authority is the Gemological Institute of America (GIA).

Wholesale Diamond Market: After grading, polished diamonds are sold in large quantities to jewelry manufacturers, retailers, and other stakeholders within the diamond industry.

Retail Diamond Market: Retailers, both brick-and-mortar stores and online platforms, sell diamonds and diamond jewelry to consumers. Well-known jewelers and brands often dominate this segment.

Investment in Diamonds: Some individuals view diamonds as a form of investment and store value, though this aspect of the market is relatively smaller compared to other investments like stocks or real estate.

Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Challenges and Issues in the Diamond Market:

Price Volatility: Diamond prices can fluctuate due to changes in demand, economic conditions, and supply dynamics. This can impact both the wholesale and retail markets.

Ethical Concerns: The diamond industry has faced scrutiny over ethical issues related to labor practices, environmental impact, and the trade of conflict diamonds (also known as "blood diamonds").

Synthetic Diamonds: The emergence of lab-grown diamonds has provided consumers with more affordable and sustainable alternatives to natural diamonds, creating competition for the market.

Consumer Education: Understanding the grading and pricing of diamonds can be complex for consumers, and there have been efforts to improve transparency and educate buyers about the diamond market.

Key Companies Profiled in the Report are: Diamond Standard Inc., Petra Diamonds Limited, Mountain Diamonds, Applied Diamond Inc, De Beers, Sino-Crystal Diamond Co., Ltd., Arctic Canadian Diamond Company, Henan Huanghe Whirlwind CO., Ltd., Lucara Diamond, Gem Diamonds.

Diamond Market Segmentation:

The global diamond market has been segmented based on product, nature, application, and region. In terms of products, the market is categorized into natural diamonds and synthetic diamonds. Natural diamonds refer to those that are mined from the earth, while synthetic diamonds are created in a laboratory.

The market is further divided based on the nature of diamonds, distinguishing between colorless diamonds and colored diamonds. Colorless diamonds are traditional and widely sought-after for their brilliance, while colored diamonds exhibit various hues and are valued for their rarity.

As for applications, the diamond market is segmented into industrial and jewelry sectors. The industrial application involves using diamonds for cutting, grinding, and drilling due to their hardness and durability.

On the other hand, diamonds' aesthetic beauty and symbolism make them highly desirable in the jewelry segment. The market analysis spans from 2019 to 2032, and these segments will play crucial roles in shaping the diamond industry's future development across different regions.

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Table of Content

Chapter 1. Methodology & Sources

1.1.Market Definition

1.2.Research Scope

1.3.Methodology

1.4.Research Sources

1.4.1.Primary

1.4.2.Secondary

1.4.3.Paid Sources

1.5.Market Estimation Technique

Chapter 2.Executive Summary

2.1.Summary Snapshot, 2023–2032

Chapter 3. Key Insights

Chapter 4. Diamond Market Segmentation & Impact Analysis

4.1.Diamond Market Segmentation Analysis

4.2.Industrial Outlook

4.2.1.Market indicators analysis

4.2.2.Market driver analysis

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