About CVD Lab-grown Diamonds
CVD Stands for chemical vapour deposition, and is the commonly used name for diamonds grown in laboratory via a process of chemical vapour deposition. This differs from another process commonly used to create lab grown diamonds, HPHT (High Pressure High Temperature). CVD diamonds are human made diamonds, but are identical to natural diamonds and are 100% authentic diamonds. Lab diamonds are becoming an increasingly popular choice amongst engagement ring and jewellery buyers. Some of the benefits of CVD diamond jewellery include ethical origins, sustainability, and cheaper prices.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.1% |
Competition among existing players is due to the CVD lab grown diamond market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for CVD lab grown diamond market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global CVD Lab-grown Diamonds market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Innocent Stone (India), Ada Diamonds (United States), WD Lab Grown Diamonds (United States), Gordan Max (Singapore), Takara Diamonds (United States), Orro (Australia), Scio Diamonds (United States), De Beers (United Kingdom), Goldiam (India), Adamas One Corp (United States), Diamond Foundry Inc. (United States) and New Diamond Technology LLC (Russia) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are ABD Diamonds Pvt. Ltd. (India), Diam Concept (France) and Others.
Segmentation Overview
AMA Research has segmented the market of Global CVD Lab-grown Diamonds market by Type (Polished, Rough, Coloured, Colourless and Others), Application (Jewellery Application, -Optical Applications (infrared windows, lenses, ATR units, X-ray windows), -Thermal Applications (heat spreaders, laser sub mounts, X-ray targets), -Mechanical Applications (cutting tools, scalpells, knives, length gauge tips, wear resistant components), -Electro-chemical Applications (electrodes, electro-chemical detectors, bio-chemical sensors), -Radiation Sensors (ionizing radiation detectors/dosimeters, fluorescence beam monitors) and -Others) and Region.
On the basis of geography, the market of CVD Lab-grown Diamonds has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Diamond Type, the sub-segment i.e. 1a will boost the CVD Lab-grown Diamonds market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution channel, the sub-segment i.e. Online will boost the CVD Lab-grown Diamonds market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing sustainability concerns.
Market Growth Drivers:
Growing interest in CVD lab-grown diamonds in the gem and jewellery sector. and Increasing demand for luxury good.
Challenges:
Uncertainty in supply of raw material. and Complexities in manufacturing process.
Restraints:
Harmful environmental impact of lab grown diamonds.
Opportunities:
Potential application in quantum devices and semiconductor. and Advancement in diamond manufacturing techniques.
Market Leaders and their expansionary development strategies
In June 2021, Goldiam announced the acquisition of an 88% stake in eco-friendly diamonds LLP. EDL was engaged in the manufacturing of lab-created diamonds using the CVD method. The acquisition was done by Goldiam in order to enter the fast growing lab-grown diamond market in Asia-Pacific region.
In May 2023, new lab grown diamond jewellery store Pristine Diamonds has launched Limelight lab grown diamonds in Udaipur. The exhibition launched on May 18 and features a wide selection of jewellery made by pristine diamonds using limelight lab grown diamonds. The business aim is to, redefine luxury in a conscious effort towards sustainability with eco-friendly diamonds that not only help preserve the legacy of a diamond but also protects the planet for a brighter future.
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.