【德国】Lab-Grown Diamonds: Market Expected to Surpass $50 Billion by 2030

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Editor’s Note

This article highlights a significant forecast for the lab-grown diamond market, projected to reach $49.9 billion by 2030. As synthetic diamonds find expanding applications, this growth reflects broader trends in technology and sustainable alternatives.

Growth Forecast

According to a report by Allied Market Research, the global market for lab-grown diamonds is set for strong growth. The market researchers forecast the market value for synthetic stones to reach $49.9 billion over the next six years.

“Lab-grown diamonds are used in countless areas. Some of these application scenarios have existed for a long time, but in other areas, research has led to the discovery of additional properties of synthetic diamonds, opening up new possibilities. Traditionally, diamonds are used for cutting, drilling, and mining. Since the quality of the stones is not a factor in these processes, cultivated diamonds are used.”

Newer uses for diamonds are found in optics, lasers, electronics, and engineering. This has led to new growth potential for lab-grown diamonds. Synthetic diamonds are also increasingly used in jewelry manufacturing, with a greater focus on lifestyle jewelry.
Companies active in the lab-grown diamond market include the luxury goods group LVMH.

CVD Method on the Rise

The Allied Market Research report further states:

“The CVD diamond segment will achieve its highest annual growth rate of 10.1 percent between 2021 and 2030. Initially, synthetic diamonds were produced under high pressure. Production via the CVD method is still relatively new. Due to lower costs and space-saving production, this method is becoming increasingly established.”

In the so-called “High-Pressure High-Temperature” (HPHT) method, artificial diamonds are created under high pressure. In the “Chemical Vapor Deposition” (CVD) method, the artificial stones are created on a diamond plate and grow there with the addition of carbon-containing gases.
The lab-grown diamond industry was also affected by the pandemic. Only India and China were reliable importers at that time. However, due to a stronger focus on sustainability and environmental friendliness, sales are expected to rise back to pre-COVID levels.

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⏰ Published on: January 05, 2023