Summary

Diamond Market Growth & Trends

The global diamond market size is expected to reach USD 123.83 billion by 2030, expanding at a CAGR of 3.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is mainly driven by strong jewelry demand from emerging economies.

Natural diamonds dominated the market in 2022 as they are one of the hardest materials available on earth and are mainly utilized for jewelry applications. Industrial applications of natural diamond account for a comparatively smaller share as compared to their synthetic counterparts, while their share in jewelry application is expected to gain prominence over the coming years.

Synthetic or lab grown diamonds were mainly used for industrial purposes, however, in recent years, the market has witnessed significant investments in synthetic production technologies for making quality products intended for jewelry applications. Approximately 2% of the diamond jewelry sold in 2018 was estimated to be produced synthetically or in a lab.

Major players in the market are making considerable investments in mining rough diamonds to sustain the rising demand. For instance, in October 2018, LUCAPA Diamond Company announced about the commencement of full scale diamond mining at its Mothae Mine in Mokhotlong. The recoveries from the mine are being processed through a plant, which has an annual capacity of 1.1 million ton. The company expects to double the capacity to 2.2 million ton per annum by 2021.

Diamond Market Report Highlights

• Natural segment held the largest revenue share accounting for 94.5% of the global diamond market in 2022, owing to strong demand from jewelry application particularly from the U.S. and China

• Synthetic segment is predicted to grow at the fastest CAGR of 8.0% from 2023 to 2030 owing to its rapid penetration in the jewelry application. Synthetic diamond jewelry has been gaining popularity in the past few years on account of high affordability and low cost.

• Industrial application is projected to grow at a CAGR of 2.8% from 2023 to 2030 due to rising construction activities in terms of new construction as well as refurbishment activities around the globe

• North America dominated the market with a revenue share of 51.3%. The future outlook in North America is likely to be influenced by changing buying patterns of the millennials shifting from natural diamonds to synthetic or lab grown ones on account of low cost

• In March 2019, Debswana Diamond launched a new project called the Cut-9 with the aim to extend the life of the Jwaneng Mine until 2035. The new project is expected to yield 53 million carats of rough diamonds from 44 million tons of treated material. The project is worth an investment of USD 2 billion and has been given to the Majwe Mining Company for providing diamond mining services.

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Type
1.1.2. Application
1.1.3. Regional scope
1.1.4. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Type outlook
2.2.2. Application outlook
2.2.3. Regional outlook
2.3. Competitive Insights
Chapter 3. Diamond Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market driver analysis
3.5.2. Market restraint analysis
3.5.3. Industry opportunities & challenges
3.6. Diamond Market Analysis Tools
3.6.1. Industry Analysis - Porter’s Five Forces
3.6.1.1. Supplier power
3.6.1.2. Buyer power
3.6.1.3. Substitution threat
3.6.1.4. Threat of new entrant
3.6.1.5. Competitive rivalry
3.6.2. PESTEL Analysis
3.6.2.1. Political landscape
3.6.2.2. Technological landscape
3.6.2.3. Economic landscape
Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies
Chapter 5. Diamond Market: Type Estimates & Trend Analysis
5.1. Diamond Market: Key Takeaways
5.2. Diamond Market: Type Movement & Market Share Analysis, 2022 & 2030
5.3. Natural
5.3.1. Natural market estimates and forecasts, 2018 to 2030 (USD Million)
5.4. Synthetic
5.4.1. Synthetic market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 6. Diamond Market: Application Estimates & Trend Analysis
6.1. Diamond Market: Key Takeaways
6.2. Diamond Market: Application Movement & Market Share Analysis, 2022 & 2030
6.3. Jewelry & Ornaments
6.3.1. Jewelry & ornaments market estimates and forecasts, 2018 to 2030 (USD Million)
6.4. Industrial
6.4.1. Industrial market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 7. Diamond Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Diamond Market by Region: Key Takeaways
7.3. North America
7.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.3.2. U.S.
7.3.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.3.3. Canada
7.3.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.3.4. Mexico
7.3.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.4. Europe
7.4.1. U.K.
7.4.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.4.2. Germany
7.4.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.4.3. France
7.4.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.4.4. Belgium
7.4.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.4.5. Poland
7.4.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.5. Asia Pacific
7.5.1. Japan
7.5.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.5.2. China
7.5.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.5.3. India
7.5.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.5.4. South Korea
7.5.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.6. Central & South America
7.6.1. Brazil
7.6.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.7. MEA
7.7.1. Saudi Arabia
7.7.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
7.7.2. UAE
7.7.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization
8.2.1. Petra Diamonds Limited
8.2.1.1. Company overview
8.2.1.2. Financial performance
8.2.1.3. Type benchmarking
8.2.1.4. Strategic initiatives
8.2.2. Rio Tinto
8.2.2.1. Company overview
8.2.2.2. Financial performance
8.2.2.3. Type benchmarking
8.2.2.4. Strategic initiatives
8.2.3. Trans Hex Group
8.2.3.1. Company overview
8.2.3.2. Financial performance
8.2.3.3. Type benchmarking
8.2.3.4. Strategic initiatives
8.2.4. Lucara Diamond
8.2.4.1. Company overview
8.2.4.2. Financial performance
8.2.4.3. Type benchmarking
8.2.4.4. Strategic initiatives
8.2.5. ALROSA
8.2.5.1. Company overview
8.2.5.2. Financial performance
8.2.5.3. Type benchmarking
8.2.5.4. Strategic initiatives
8.2.6. De Beers
8.2.6.1. Company overview
8.2.6.2. Financial performance
8.2.6.3. Type benchmarking
8.2.6.4. Strategic initiatives
8.2.7. Mountain Province Diamonds
8.2.7.1. Company overview
8.2.7.2. Financial performance
8.2.7.3. Type benchmarking
8.2.7.4. Strategic initiatives
8.2.8. Arctic Canadian Diamond Company
8.2.8.1. Company overview
8.2.8.2. Financial performance
8.2.8.3. Type benchmarking
8.2.8.4. Strategic initiatives
8.2.9. Gem Diamonds
8.2.9.1. Company overview
8.2.9.2. Financial performance
8.2.9.3. Type benchmarking
8.2.9.4. Strategic initiatives