Global CVD Lab-Grown Diamonds Market Report 2024: Size, Drivers, And Top Segments
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The CVD lab-grown diamonds market has witnessed rapid expansion, growing from $11.72 billion in 2023 to $12.92 billion in 2024, with a CAGR of 10.3%. This growth is attributed to ethical consumer choices and advancements in manufacturing processes. Moving forward, the market is forecasted to grow to $18.34 billion in 2028, with a CAGR of 9.1%. Factors such as sustainability concerns and increasing acceptance by mainstream retailers are expected to drive this growth.
The escalating demand for electronics and semiconductors is set to propel the growth of the CVD lab-grown diamond market. CVD diamonds, with exceptional qualities ideal for high-power electronics, support the burgeoning electronics and semiconductor sectors. Global semiconductor industry sales totaled $47.2 billion in August 2021, marking a 3.3% increase from the previous month, as per the Semiconductor Industry Association. Similarly, consumer electronics for the domestic market in the UK witnessed a notable increase from May 2020 to May 2023. This surge in demand for electronics and semiconductors underscores the growing need for CVD lab-grown diamonds, thus driving market growth.
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What Are The Key Trends That Influence 3D IC And 2.5D IC Packaging Market Share Analysis?
Technological advancements are a key trend gaining popularity in the CVD Lab-Grown diamond market. Major companies operating in the CVD Lab-Grown diamond market are adopting new technologies to sustain their position in the market. For instance, in May 2021, Diamond Works Technology Inc., a US-based retail luxury goods and jewelry company, launched its U.S.-based lab-grown diamond production using an innovative technology called the OneStep chemical vapor deposition (CVD) diamond growth process. The One-Step method can create enormous, high-quality diamonds that can be carved into fanciful forms, which are highly sought-after products. Further, the OneStep growth process could set the stage for Diamond Works Technology to address many other potential applications for high-quality diamond materials, such as diamond electronics, energy storage, and water purification, by enabling repeatable and scalable production of lab-grown diamond gemstones.
Which Market Players Are Driving Growth In The CVD Lab-Grown Diamonds Market?
Major companies operating in the cvd lab-grown diamonds market report are Sumitomo Electric Industries Ltd., EDP Corporation, De Beers Group, Signet Jewelers, Swarovski Crystal, Blue Nile, Brilliant Earth, Element Six, Ritani, Diamond Foundry Inc., Charles & Colvard, Clean Origin, New Diamond Technology, Diamond Foundry, Tacori Inc., VRAI, Taylor and Hart, James Allen, GemsNY, Delaware Diamond Knives Inc., Ada Diamonds, Adamas One Corp, Beijing Worldia Diamond Tools Co Ltd., Tomei Diamond Corporation, WD Lab Grown Diamonds, ABD Diamonds Pvt Ltd., Bhanderi Lab-grown Diamonds LLP, Hebei Plasma Diamond Technology Co Ltd., SP3 Technologies LLP, Heyaru Engineering Private Limited, SLTL Group
How Is The Global CVD Lab-Grown Diamonds Market Segmented?
The cvd lab-grown diamonds market covered in this report is segmented –
1) By Type: Polished, Rough
2) By Color: Colorless, Colored
3) By Size: 2-4 Carat, Above 4 Carat, Below 2 Carat
4) By Application: Machine And Cutting Tools, Heat Sinks And Exchangers, Optical, Laser And X-Ray, Electronics, Healthcare Instruments, Gemstones, Other Applications
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The CVD Lab-Grown Diamonds Global Market Report 2024 provides an overview of the cvd lab-grown diamondsmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cvd lab-grown diamonds market forecast analyzes cvd lab-grown diamonds market size, cvd lab-grown diamonds market share, leading competitor and their market positions.
The Table Of Content For The CVD Lab-Grown Diamonds Market Include
1. CVD Lab-Grown Diamonds Market Executive Summary
2. CVD Lab-Grown Diamonds Market Segments
3. CVD Lab-Grown Diamonds Market Size And Template Market Growth Rate
4. Key CVD Lab-Grown Diamonds Market Trends
5. Major CVD Lab-Grown Diamonds Market Drivers
……
25. Key Mergers And Acquisitions In The CVD Lab-Grown Diamonds Market
26. Top CVD Lab-Grown Diamonds Companies
27. CVD Lab-Grown Diamonds Market Opportunities And Strategies
28. CVD Lab-Grown Diamonds Market, Conclusions And Recommendations
29. Appendix
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