Global Cvd Lab Grown Diamonds Market Share Report 2024, Forecast To 2033
8 Mar, 2024
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.
Global CVD Lab Grown Diamonds Market Key Driver
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.
Get A Free Sample Of The Global CVD Lab Grown Diamonds Market ReportGlobal CVD Lab Grown Diamonds Market Segments
The cvd lab-grown diamonds market covered in this report is segmented –
1) Type:Polished, Rough
2) Color:Colorless, Colored
3) Size:2-4 Carat, Above 4 Carat, Below 2 Carat
4) Application:Machine And Cutting Tools, Heat Sinks And Exchangers, Optical, Laser And X-Ray, Electronics, Healthcare Instruments, Gemstones, Other Applications
By Geography: The countries covered in the cvd lab-grown diamonds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the CVD lab-grown diamonds market in 2023. The regions covered in the cvd lab-grown diamonds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major CVD Lab Grown Diamonds Industry Players
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
Get The Full Global CVD Lab Grown Diamonds Market Report
CVD Lab Grown Diamonds Market Overview
A CVD lab-grown diamond is a synthetic diamond manufactured by the chemical vapor deposition (CVD) method, where a diamond seed crystal is injected with a natural gas such as methane in a vacuum chamber to split up into carbon atoms that build up on the crystal and form a diamond. CVD lab-grown diamonds are used in the transmission where extreme hardness and high thermal conductivity are essential.