DUBLIN--(BUSINESS WIRE)--The "Global Diamond Market Size, Trends & Growth Opportunity, By product, By Application, Region and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
Diamonds are known as the hardest material on Earth, and has long-since been recognized for its beauty as a gemstone. Some 142 million carats of diamonds were estimated to have been produced from mines worldwide in 2019. Diamonds also have a high industrial value. They are especially well regarded as a material for cutting and grinding tools due to their extreme hardness.
Gem quality rough diamonds are sorted by size, colour, quality and shape, and then are sold to buyers in conformity with the sales policy adopted in a rough diamond production company. Depending on the quality of the mined rough diamonds, the current state of the market, the adopted marketing policy, companies use different approaches to diamond sales: sights, tenders, auctions, spot transactions and long-term contracts.
Market Drivers
Since the countries are making large contribution to the market hence increasing the market demand. The millennials in the country mainly contribute to the demand for diamond jewellery. This indicates a large potential for the market to expand further. Considering the growing potential for diamond jewellery in the country, the existing industry players are making attempts to further invest and expand their target audience. Development of new diamond based industrial products, targeting customers with new jewelry design, and perforation of diamond sale through e-commerce business can create significant opportunities for the market.
Market Restraints
Restricting imports of rough diamonds from conflict areas can hamper the market growth due to which the embargo can tighten controls on the illegal diamond trade funding civil wars hence causing hindrance to the market.
Key Players
The global diamond market is largely dominated by a handful of companies. The top three companies - Alrosa from Russia, De Beers from Luxembourg, and British-Australian Rio Tinto - account for more than 60 percent of global diamond mine production. Other companies are Harry Winston, Cartier, Tiffany & Co. Chopard, Zales, Tacori, Inc., Buccellati, James Allen, BVLGARI, Tanishq Limited.
Industry development
On 11 March 2021, India was all set to become a major hub of lab-grown diamonds as it accounted for about a quarter of the estimated global laboratory grown diamonds output of 6 to 7 million crates.
Key Questions Addressed:
- What will be the CAGR of the global diamond jewellery market between 2021 and 2027?
- What is the revenue of the global diamond jewellery market based on respective segments?
- Which are the leading companies in the global diamond jewellery market?
Market Segmentation
By Product
- Natural
- Synthetic
By Application
- Jewellery
- Industrial
By region
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East & Africa
Companies Mentioned
- Alrosa from Russia
- De Beers from Luxembourg
- British-Australian Rio Tinto
- Harry Winston
- Cartier
- Tiffany & Co. Chopard
- Zales
- Tacori Inc
- Buccellati
- James Allen
- BVLGARI
- Tanishq Limited
For more information about this report visit https://www.researchandmarkets.com/r/6e0b9l
