Market Overview: North America Lab Grown Diamonds Market
MarkNtel Advisors, a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on the North America Lab Grown Diamonds Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
North America Lab Grown Diamonds Market Insights 2022-27
The North America Lab Grown Diamonds Market is projected to growing at a considerable CAGR during the forecast period, i.e., 2022-27.
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Top Players in the North America Lab Grown Diamonds Market:
- Apollo Diamond
- ALTR Created Diamonds
- De Beers
- Scio Diamond Technology Corporation
- WD Lab Grown Diamonds
- Green Rocks
- Brilliant Earth
- ADA Diamonds
- Applied Diamond Inc.
- Others
Segmentation Analysis of North America Lab Grown Diamonds Market
North America Lab Grown Diamonds Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2022-27, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
-By 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, 2022.”
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-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 Sales Channel
- Direct Channel
- Distributed Channel
A Comprehensive Geographical Analysis:
-By Country
- The US
- Canada
- Mexico
- Others
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.
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