Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

Yesterday

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Lab Grown Diamonds Market to reach $55.6 bn at 9.8% CAGR during 2022 to 2031

16 january 2024

According to a report published by Allied Market Research, the lab grown diamonds market size was valued at $22.3 bn in 2021, and is estimated to reach $55.6 billion by 2031, growing at a CAGR of 9.8% from 2022 to 2031.

Use of lab grown diamonds in the creation of jewelry has increased significantly. Many companies are including lab grown diamond jewelry as a cost-effective alternative to naturally mined diamond jewelry. Lab grown diamonds are available in a myriad of shapes and sizes, which provide multiple avenues to use them effectively.

The global lab grown diamonds market is segmented on the basis of manufacturing method, size, nature, application, and region. Based on the manufacturing method, the CVD segment held the major share of the market in 2021. Based on nature, the colorless segment held 71.2% of lab grown diamonds market share in 2021, and based on the size, the below 2-carat segment held the major share of the market in 2021.

Based on application, the fashion segment held the major share of the market in 2021. Lab grown diamonds are heavily used in the fashion industry for the creation of different types of unique jewelry pieces and jewelry sets. Colorless, as well as colored diamonds, are used in jewelry made with silver, gold, platinum, tungsten, and other types of metals.

Based on region, the Asia-Pacific region held the major share of the market in 2021. Asia-Pacific is one of the largest producers of lab grown diamonds in the world. China is the top country in terms of lab grown diamond production and export, while India is set to become a major hub of lab grown diamonds in the world.

The Asia-Pacific market is growing significantly, owing to improvements in living standards and rise in disposable income, thereby leading customers to adopt a lavish lifestyle, which is also driving the lab grown diamonds market growth in the region.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished