Diamond Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Diamond Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, December 21, 2023 /EINPresswire.com/ -- The global diamond market is on a trajectory of growth, with the market size set to increase from $2.43 billion in 2022 to $2.55 billion in 2023, reflecting a compound annual growth rate (CAGR) of 5.2%. Projections indicate sustained expansion, with the market poised to reach $3.41 billion by 2027, maintaining a robust CAGR of 7.5%.

Drivers of Growth:
The surge in the diamond market can be attributed to several factors, including the rising population in developing nations such as China and India. This growth is fueled by an increase in disposable income, a surge in demand, and enhanced credit availability. Disposable income, a key metric indicating the amount available for spending or saving after deducting income taxes, has seen notable increases, as exemplified by China's Disposable Personal Income rising from 43834 CNY in 2020 to 47412 CNY in 2021, as reported by the Bureau of Statistics of China. The escalating disposable income is a significant contributor to the expansion of the diamond market.

Diamonds in Marine Mining:
Marine Mining, a form of diamond extraction from offshore placer deposits, adds to the multifaceted growth of the diamond market. The increasing adoption of this method, especially in regions like China, underscores the industry's dynamic nature.

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Key Players:
Major players driving the dynamics of the diamond market include Rockwell Diamonds, Anglo American Plc, Gem Diamonds, Petra Diamonds, and Lucara. These entities play pivotal roles in shaping the market landscape and meeting the evolving demands of consumers.

Technological Advancements:
Companies in the diamond industry are leveraging technological advancements to enhance operational efficiency. X-Ray Transmission (XRT) technology is emerging as a game-changer, with its application in mineral concentrate analysis. This technology involves bombarding each stone with X-rays and measuring their absorption, thereby increasing precision in diamond mining operations. As new mines embrace XRT technology and older ones transition to it, it is becoming the industry standard.

Regional Dynamics:
In 2022, Africa emerged as the largest region in the diamond market, reflecting the continent's significance in global diamond production. The comprehensive market analysis covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, providing insights into the distribution of diamond-related activities globally.

Market Segmentation:
The global diamond market is segmented based on various criteria:
• Type: Jewelry Making and Industrial Applications
• Mining Type: Underground Mining and Surface Mining

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Diamond Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Diamond Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on diamond market size, diamond market drivers and trends, diamond market major players, competitors' revenues, market positioning, and market growth across geographies. The diamond market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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