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Lab grown diamonds output to surge 15 million carats by 2030

7-12-2018

 

The 2018 Global Diamond Report, which is published by Bain & Company in collaboration with Antwerp World Diamond Centre (AWDC), foresees the market expansion of lab-grown diamonds.

 

The company indicates that about two million carats of gem-quality and lab-grown polished can be produced each year with a majority of them are under 0.18 carat. In short to medium term, the growth of lab-grown diamonds will be limited by manufacturing capacity, access to technology and intellectual property and availability of funding. However, the output can be boosted to from 10 million to 17 million carats per year by 2030 if the sector sustains its current annual growth rate of 15 to 20 percent.

 

The natural diamond industry may put itself out of jeopardy if the industry can differentiate its stones from lab-grown diamonds by positioning lab-grown diamonds as fashion jewellery rather than luxury goods. Then, the negative impacts on natural diamond demand by 2030 will be limited up to five percent to 10 percent in value terms. The firm expects demand for natural rough diamonds to stay flat or climb to two percent annually through 2030 in real terms buoyed by strong fundamentals in the US and the continued growth of the middle class in China and India.

 

Check here to read the report.

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