Market Research Report

North America Lab Grown Diamonds Market Research Report: Forecast (2024-2030)

North America Lab Grown Diamonds Market - By Manufacturing Method (High Pressure & High Temperature [HPHT], Chemical Vapor Deposition [CVD]), By Size (Below 2 Carat, 2 to 4 Carat, ...Above 4 Carat), By Nature (Coloured, Colourless), By Application (Fashion, Industrial), By Finish (Polished, Rough), By Sales Channel (Direct Channel, Distributed Channel) and others Read more

  • Chemicals
  • Jan 2024
  • 178
  • PDF, Excel, PPT

Market Definition

Lab-Grown Diamonds are identical to natural diamonds in appearance & composition and are manufactured in laboratories & using techniques like High Pressure & High Temperature (HPHT) & Chemical Vapor Deposition (CVD). These diamonds possess better quality than natural diamonds since their manufacturing is monitored continuously by experts who strictly ensure quality control. Since these diamonds sometimes have better durability, thermal conductivity, electron mobility than the normal ones, they are employed widely across different tools, equipment, optical materials, etc.

Furthermore, since lab-grown diamond technology has been undergoing constant advancements, it has also enabled several companies to grow better quality diamonds rapidly & at affordable prices. Hence, it has created cutting-edge competition among lab diamond & normal diamond companies.

Market Insights & Analysis: North America Lab Grown Diamonds Market (2024-30)

According to MarkNtel Advisors, the North America Lab Grown Diamonds Market is projected to growing at a considerable CAGR during the forecast period, i.e., 2024-30. The market is driven principally by the consistent technological advancements in lab-grown diamonds & their lower selling price than the natural ones.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
Countries Covered The US, Canada, Mexico, Rest of North America
Key Companies Profiled ALTR Created Diamonds, De Beers, WD Lab Grown Diamonds, Green Rocks, Brilliant Earth, ADA Diamonds, Applied Diamond Inc., Others
Unit Denominations USD Million/Billion

 

Due to these factors, several fashion jewelry retailers have included lab-grown diamonds in their collection to make them available for a wide range of price-conscious customers. Moreover, lab-grown diamonds are also observing significant demand across industries for various purposes like cutting & grinding hard materials, heat dissipation, polishing tools, coatings for wear resistance, etc.

North America Lab Grown Diamonds Market Driver:

  • Lower cost of lab-grown diamonds than natural diamonds
  • Chemical & physical properties of lab-grown diamonds similar to natural ones
  • A mounting inclination toward sustainability & environmentally friendly products

North America Lab Grown Diamonds Market Research Report: Forecast (2024-2030)

North America Lab Grown Diamonds Market Challenge:

  • The Complex manufacturing process of lab-grown diamonds involving high temperature & pressure conditions that are difficult to maintain
  • Shifting consumer preferences toward original diamonds and reluctance for lab-based jewelry 
  • Lack of strong marketing & branding structure might hinder a smooth growing market rate

North America Lab Grown Diamonds Market (2024-30): Segmentation Analysis

The North America Lab Grown Diamonds Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the level. According to the analysis, the market has been further classified as:

Based on Application:

  • Fashion
  • Industrial

Of both, the demand for Lab-grown diamonds for Industrial applications is anticipated to witness a significant boost during 2024-30. It owes principally to the extensive requirements for lab-grown diamonds across multiple industries due to their ability to act as a Heat Sink. These diamonds are highly efficient in preventing semiconductor materials from overheating and are embedded into several products like coffee makers, cars, etc., and technologies like Virtual Reality, Artificial Intelligence, and the Internet of Things. Moreover, their excellent ability to diffuse heat has also surged their demand as semiconductors to manufacture smaller & powerful electronics, which, in turn, has mounted their usage in Radio Frequency (RFs) & power devices.

Based on Finish

  • Rough
  • Polished

Here, the demand for Rough Diamonds, which fluctuated in the previous few years, is anticipated to witness considerable growth in the forecast period. These are uncut & unpolished diamonds produced through different methods depending upon the application requirements. Their burgeoning demand across sectors like mining, construction, oil & gas, etc., is contributing to the overall market growth. Besides, owing to the resumption of North America’s mining sector since 2021, the market is witnessing substantial demand for rough diamonds. With their increasing production, the supply chain is expected to rebalance fully in the coming years, states MarkNtel Advisors in their research report, “North America Lab Grown Diamonds Market Analysis, 2024.”

North America Lab Grown Diamonds Market Regional Projection

Geographically, the North America Lab Grown Diamonds Market expands across:

  • The US
  • Canada
  • Mexico

Of them all, the US is one of the largest producers & consumers of lab-grown diamonds and is swiftly shifting its preference from natural diamonds to lab-grown ones. The country is projected to attain the largest regional market share, principally due to the rapidly increasing construction activities in the country to improve the existing infrastructure. As a result, the demand for lab-grown diamonds for several purposes like drilling, equipment manufacturing, cutting curved profile holes, etc., is significantly surging. Besides, the US government has recently declared that lab-grown diamonds are not artificial but gemstones. Hence, their manufacturers can market them using terms like aboveground & cultured. This transparency by the Federal Trade Commission (FTC) is likely to ensure greater scalability & fairness in commerce for consumers and, in turn, drive the regional market.

Gain a Competitive Edge with Our North America Lab Grown Diamonds Market Report

  1. North America Lab Grown Diamonds Market Report by Markntel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps business organizations to gain a holistic understanding of market dynamics & make informed decisions.
  2. This report also highlights current market trends & future projections, allowing business organizations to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. North America Lab Grown Diamonds Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, business organizations can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The North America Lab Grown Diamonds Market is likely to growing at a considerable CAGR in the forecast period of 2024-30.

   A. The significantly growing Industrial application of lab-grown diamonds is projected to provide lucrative growth opportunities to the market players during 2024-30.

   A. The increasing inclination of the end-users toward adopting sustainable & eco-friendly diamonds is the most prominent factor anticipated to drive the North America Lab Grown Diamonds Market. Moreover, the similar chemical & physical properties and the availability of lab-grown diamonds at a lower cost than natural diamonds is another crucial aspect likely to generate remunerative growth opportunities for the market players in the years to come.

   A. ALTR Created Diamonds, De Beers, WD Lab Grown Diamonds, Green Rocks, Brilliant Earth, ADA Diamonds, Applied Diamond Inc., and others are the top companies in the North America Lab Grown Diamonds Market.

   A. The US would present growth prospects in the North America Lab Grown Diamonds Market during 2024-30.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. North America Lab Grown Diamonds Market Trends & Development
  5. North America Lab Grown Diamonds Market Dynamics
    1. Growth Drivers
    2. Challenges
  6. North America Lab Grown Diamonds Market Hotspot & Opportunities
  7. North America Lab Grown Diamonds Market Policies, Regulations, Product Standards
  8. North America Lab Grown Diamonds Value Chain Analysis
  9. North America Lab Grown Diamonds Market Analysis, 2019-2030F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
    2. Market Share & Analysis
      1. By Manufacturing Method
        1. High Pressure & High Temperature (HPHT) - Market Size & Forecast 2019-2030, USD Million
        2. Chemical Vapor Deposition (CVD) - Market Size & Forecast 2019-2030, USD Million
      2. By Size
        1. Below 2 Carat- Market Size & Forecast 2019-2030, USD Million
        2. 2 to 4 Carat- Market Size & Forecast 2019-2030, USD Million
        3. Above 4 Carat- Market Size & Forecast 2019-2030, USD Million
      3. By Nature
        1. Coloured- Market Size & Forecast 2019-2030, USD Million
        2. Colourless- Market Size & Forecast 2019-2030, USD Million
      4. By Application
        1. Fashion- Market Size & Forecast 2019-2030, USD Million
        2. Industrial- Market Size & Forecast 2019-2030, USD Million
      5. By Finish
        1. Polished- Market Size & Forecast 2019-2030, USD Million
        2. Rough- Market Size & Forecast 2019-2030, USD Million
      6. By Sales Channel
        1. Direct Channel- Market Size & Forecast 2019-2030, USD Million
        2. Distributed Channel- Market Size & Forecast 2019-2030, USD Million
      7. By Country
        1. The US
        2. Canada
        3. Mexico
        4. Rest of North America
      8. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
  10. The US Lab Grown Diamond Market Analysis, 2019-2030F
    1. Market Size and Analysis
      1. By Revenue (USD Million)
    2. Market Share and Analysis
      1. By Manufacturing Method- Market Size & Forecast 2019-2030, USD Million
      2. By Size- Market Size & Forecast 2019-2030, USD Million
      3. By Nature- Market Size & Forecast 2019-2030, USD Million
      4. By Application- Market Size & Forecast 2019-2030, USD Million
      5. By Finish- Market Size & Forecast 2019-2030, USD Million
      6. By Sales Channel- Market Size & Forecast 2019-2030, USD Million
  11. Canada Lab Grown Diamond Market Analysis, 2019-2030F
    1. Market Size and Analysis
      1. By Revenue (USD Million)
    2. Market Share and Analysis
      1. By Manufacturing Method- Market Size & Forecast 2019-2030, USD Million
      2. By Size- Market Size & Forecast 2019-2030, USD Million
      3. By Nature- Market Size & Forecast 2019-2030, USD Million
      4. By Application- Market Size & Forecast 2019-2030, USD Million
      5. By Finish- Market Size & Forecast 2019-2030, USD Million
      6. By Sales Channel- Market Size & Forecast 2019-2030, USD Million
  12. Mexico Lab Grown Diamond Market Analysis, 2019-2030F
    1. Market Size and Analysis
      1. By Revenue (USD Million)
    2. Market Share and Analysis
      1. By Manufacturing Method- Market Size & Forecast 2019-2030, USD Million
      2. By Size- Market Size & Forecast 2019-2030, USD Million
      3. By Nature- Market Size & Forecast 2019-2030, USD Million
      4. By Application- Market Size & Forecast 2019-2030, USD Million
      5. By Finish- Market Size & Forecast 2019-2030, USD Million
      6. By Sales Channel- Market Size & Forecast 2019-2030, USD Million
  13. North America Lab Grown Diamonds Market Key Strategic Imperatives for Success & Growth
  14. Competition Outlook
    1. Company Profiles
      1. ALTR Created Diamonds
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. De Beers
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. WD Lab Grown Diamonds
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Green Rocks
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Brilliant Earth
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. ADA Diamonds
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Applied Diamond Inc.
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Others
  15. Disclaimer


North America Lab Grown Diamonds Market Segmentation