Diamond Market to Reach 3.1% CAGR by 2027

Market Size – USD 90.20 Billion in 2019, Market Growth - CAGR of 3.1%, Market Trends – High demand from developing nations.

The global Diamond market is forecast to reach USD 113.63 Billion by 2027, according to a new report by Reports and Data. The growth of the industry can be mainly attributed to the growing demand for diamond applications, in jewelry and construction, in emerging Asia-Pacific economies like India and China.

Industrial diamonds are those intended for industrial use, mainly as a cutting or abrasive tool. In general, industrial diamonds are irregularly shaped, of the wrong color, and are of vital importance in the modern metallurgy and mining industries. Their usefulness comes from the fact that diamond is the hardest natural substance known. Globally, the increased demand for high-strength abrasives for several industrial purposes and the increase in disposable income and overall economic growth of a region are the main drivers of industrial diamond growth.

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Market Dynamics:

The global Diamond market is rapidly gaining traction over the recent years and is expected to register robust revenue growth throughout the forecast period of 2021 and 2028. The consumer goods sector is rapidly growing due to factors such as paradigm shift in consumer preferences, rising demand for convenience and ongoing COVID-19 pandemic. Rapid revenue growth is attributed to factors such as rising disposable income, improvements in standard of living, and increasing preference for organic food and plant based food products. Moreover, rising health conscious population, increasing preference for online shopping and doorstep deliveries and growing inclination of veganism in several countries across the globe and increasing focus on developing novel products to cater to consumer demand are other factors expected to support market growth going ahead.

Competitive Landscape:

The research report offers details about leading companies in the global Diamond market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.

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Major Companies:

Market Segmentation:

The report also sheds light on the market segmentation based on type, application and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

  • Natural Diamond
  • Synthetic Diamond

Application Outlook (Revenue, USD Billion; 2017-2027)

  • Jewelry Ornaments
  • Industrial

Distribution Channel (Revenue, USD Billion; 2017-2027)

  • Traditional Channel
  • Online

Diamond Market Segmentation based on Regions:

North America

  • S.
  • Canada
  • Mexico
  • Europe
    • Germany
    • K.
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East Africa
  • De Beers,
  • Rio-Tinto Diamonds,
  • Debswana Diamond Company, Ltd,
  • Dominion Diamond Corporation,
  • Lucara,
  • Petra Diamonds,
  • Gem Diamonds,
  • Anglo American PLC,
  • Rockwell Diamonds

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