Major players in the Diamond market include Rockwell Diamonds, Anglo American Plc, Gem Diamonds, Petra Diamonds, and Lucara. The global diamond market will grow from $2.43 billion in 2022 to $2.55 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%.
The global diamond market will grow from $2.43 billion in 2022 to $2.55 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The diamond market is expected to grow from $3.41 billion in 2027 at a CAGR of 7.5%.
The Diamond market includes revenues earned by entities by using the revenues generated by diamonds to aid national development.The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. Diamond refers to the process of mining diamonds of different carats.Art, science, engineering, and a lot of labour go into Diamond. Pipe mining, alluvial mining, and marine mining are the three forms of mining utilised to mine diamond.
Africa was the largest region in the Diamond market in 2021. The regions covered in this Diamond market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of Diamond are jewellery making and industrial applications.Jewellery making refers to ornamental pieces (such as rings, necklaces, earrings, and bracelets) that are made of materials that may or may not be precious (such as gold, silver, glass, and plastic), and are set with genuine or imitation gems, and are worn for personal adornment. The grades are gem grade and industrial grade.The various mining type includes Underground Mining, Surface Mining. The mining type includes underground mining, and surface mining.
The growth in the Diamond market is due to the increasing population in developing countries such as China and India owing to rising disposable income, increased demand, and availability of credit.Disposable income refers to the amount of money that an individual or household has to spend or save after income taxes have been deducted.
Marine Mining is a form of Diamond that is used in offshore placer deposits.For instance, in 2021, according to the Bureau of Statistics of China, a China-based Government agency data, Disposable Personal Income in China increased to 47412 CNY 2021 from 43834 CNY in 2020. Therefore, the rising disposable income is driving the growth of the Diamond market.
Companies engaged in the Diamond industry are using X-Ray Transmission (XRT) technology, to increase efficiency in their operations in the global Diamond market.Under this technology, a mineral concentrate is passed through sensors that bombard each stone with X-rays and measure the absorption of each stone. XRT technology is quickly becoming the standard in the industry, as new mines begin using it and older mines make a transition to it.
The countries covered in the Diamond market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The diamond market research report is one of a series of new reports that provides diamond market statistics, including diamond industry global market size, regional shares, competitors with a diamond market share, detailed diamond market segments, market trends and opportunities, and any further data you may need to thrive in the diamond industry. This diamond market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.