Chicago, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The global CVD Lab-grown Diamonds Market is projected to grow from USD 11.3 billion in 2022 to USD 15.9 billion by 2027, at a CAGR of 7.1% from 2022 to 2027, as per the recent study by MarketsandMarkets™. Major factors driving the growth of the CVD lab-grown diamond include increasing adoption among consumers, and demand from various growing applications such as electronics, machine & cutting tools, and others.
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275 - Market Data Tables
47 - Figures
226 - Pages
List of Key Players in CVD Lab-grown Diamonds Market:
- De Beers Group (UK)
- Sumitomo Electric Industries Ltd. (Japan)
- Goldiam (India)
- Adamas One Corp (US)
- Bhanderi Lab Grown Diamonds LLP (India)
- Hebei Plasma Diamond Technology Co., Ltd. (China)
- SP3 Diamond Technologies (US)
- Delaware Diamond Knives, Inc. (US)
- EDP Corporation (Japan)
- Tomei Diamond Corporation (Japan)
- Heyaru (Belgium)
- Beijing Worldia Diamond Tools Co., Ltd. (China)
- Ritani (US)
- Shanghai Zhengshi Technology Co., Ltd. (China)
- Others
Drivers, Restraints, and Opportunities in CVD Lab-grown Diamonds Market:
- Drivers: Growing interest in CVD lab-grown diamonds in the gem and jewelry sector
- Restraints: Unclear long-term value
- Opportunity: Potential applications in quantum devices and semiconductors
Key Findings of the Study:
- By type, the rough segment accounted for the highest share of CVD lab-grown diamond market during 2022 to 2027.
- By color, the colorless segment accounted for the highest share of the CVD lab-grown diamond market from 2022 to 2027.
- By application, the machine & cutting tools segment accounted for the highest share of the CVD lab-grown diamond market from 2022 to 2027.
- North America is the largest region in the CVD lab-grown diamond market.
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CVD lab-grown diamonds find application in machine & cutting tools, heat sinks & exchangers, electronics, optical, healthcare, and various other application. The hardness, chemical inert characteristics and affordability of CVD diamond have increased its demand in various industrial applications. The polished type of CVD lab-grown diamond market is projected to be the fastest-growing segment during 2022 to 2027. Polished CVD diamonds are used in jewelry making. Currently, the demand for CVD diamond is increasing in the jewelry segment.
The colored segment of by color segment of CVD lab-grown diamond market is projected to be the fastest-growing segment during 2022 to 2027. Colored CVD diamonds are majorly used in jewelry, optical & laser, and electronic applications. The growth of these applications is expected to drive the growth of colored lab-grown diamonds.
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The gemstones application segment of the CVD lab-grown diamond market is projected to be the fastest-growing segment during 2022 to 2027. The number of engagement rings sold with lab-grown diamonds is increasing. Factors such as affordability, and eco-friendliness have increased the consumption of lab-grown diamonds such as CVD diamonds in gemstone application.
Asia Pacific is projected to be the fastest-growing market for CVD lab-grown market during the forecast period. The region is one of the major exporters of CVD lab-grown diamonds. India and China are two major CVD lab-grown diamond manufacturers in the Asia Pacific region.
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