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The Global Diamond Market is forecasted to grow at a rate of 3.1 % from USD 90.20 billion in 2019 to USD 113.63 billion in 2027.

NEW YORK CITY, NEW YORK, USA, August 3, 2022 /EINPresswire.com/ -- The Global Diamond Market is forecast to reach USD 113.63 Billion by 2027, according to a new report by Reports and Data. The growth of the industry can be mainly attributed to the growing demand for diamond applications, in jewelry and construction, in emerging Asia-Pacific economies like India and China.

Industrial diamonds are those intended for industrial use, mainly as a cutting or abrasive tool. In general, industrial diamonds are irregularly shaped, of the wrong color, and are of vital importance in the modern metallurgy and mining industries. Their usefulness comes from the fact that diamond is the hardest natural substance known. Globally, the increased demand for high-strength abrasives for several industrial purposes and the increase in disposable income and overall economic growth of a region are the main drivers of industrial diamond growth.

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The initial Covid-19 epidemic caused demand in the Chinese market to fall, which is estimated to account for 15% of global demand. The spread of the virus in China and the quarantine measures that followed led to the closure of most jewelry stores for approximately two months. There have been additional challenges for sales. Since the virus has spread to other parts of the world, travel restrictions have an impact on sales events, with, for example, De Beers, canceling a sales event, its third 'sight' of the year, which was too take place from March 30 to April 3 in 2020.

With more limited production due to mines taking care and maintenance or operating at reduced capacity, initial expectations are that production will drop to 133 million carats, a decrease of 9%. If the bottlenecks continue or if the market continues to deteriorate, an even more significant decline is expected.

Top Profiled in the Global Diamond Market Report:

• De Beers, • ALROSA, • Rio-Tinto Diamonds, • Debswana Diamond Company, Ltd, • Dominion Diamond Corporation, • Lucara • Others

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Product Outlook (Revenue, USD Billion; 2017-2027)

Application Outlook (Revenue, USD Billion; 2017-2027)

Distribution Channel (Revenue, USD Billion; 2017-2027)

Key Takeaways of the Global Diamond Market Report:

• A comprehensive overview of the global Diamond industry. • Accurate market projections in terms of market size, share, and volume. • Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues. • Deep-dive analysis of the upcoming market trends. • Qualitative and quantitative analyses of the global Diamond market. • Elaborate study of the leading regional markets in the global Diamond market. • Complete overview of the market’s competitive landscape. • Brief look at the company profiles and portfolios.

Key Regional Markets Covered in the Report:

• North America o U.S. o Canada o Mexico • Europe o Russia o U.K. o Germany o France o BENELUX o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Rest of Asia Pacific • Latin America o Brazil o Rest of Latin America • Middle East & Africa o Saudi Arabia o U.A.E. o Israel Rest of Middle East & Africa

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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Nikhil Morankar Reports and Data + 12127101370 email us here Visit us on social media: Facebook Twitter LinkedIn

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