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Diamond Mining Market to Touch USD 630.203 Billion by 2032

Jan 16, 2024 10:19 PM ET

Diamond Mining Market to Touch USD 630.203 Billion by 2032

Diamond Mining Market Overview:

The diamond mining market industry is projected to grow from USD 410.32 Billion in 2023 to USD 630.203 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.51% during the forecast period (2023 – 2032). 

Lab-grown diamonds have gained traction as an alternative to natural diamonds. Advances in technology have made lab-grown diamonds more accessible and indistinguishable from natural diamonds.

Demand for diamonds is influenced by factors like economic conditions, consumer confidence, and cultural trends, particularly in major markets like the United States, China, and India.

Diamond Mining Key Market Players

Key Companies in the diamond mining market include

  • Dominion Diamond
  • Gem Diamonds
  • Lucara Diamond
  • Petra Diamonds
  • Rio Tinto
  • Stornoway Diamond
  • Mountain Province Diamonds
  • Archon Minerals
  • Rockwell Diamonds
  • Lonrho Mining
  • Diamond Corp
  • Peregrine Diamonds

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Market Drivers:

Ethical and sustainability concerns are increasingly influencing consumer choices, leading to a demand for responsibly sourced diamonds.

The Kimberley Process Certification Scheme (KPCS) is an international initiative aimed at preventing the trade of conflict diamonds. It requires participants to certify that diamonds are conflict-free.

Advancements in technology, such as drone-based surveys and sophisticated geological modeling, have improved exploration techniques for diamond deposits.

Browse In-depth Market Research Report on Diamond Mining Market:

Diamond Mining Market Segmentation

Diamond Mining Type Outlook (USD Billion, 2018-2032)

  • Underground Mining
  • Open-Pit Mining

Diamond Mining Application Outlook (USD Billion, 2018-2032)

  • Jewelry
  • Industrial
  • Research

Diamond Mining Regional Outlook (USD Billion, 2018-2032)

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

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Regional Insights on Diamond Mining

The market insights provided by the study are categorized by region, covering North America, Europe, Asia-Pacific, and the Rest of the World. Within this market, the North American diamond mining sector is poised to take the lead. The United States and Canada are expected to emerge as key contributors, driven by the growing industrial application of diamonds. The region’s success is further propelled by the abundance of mining enterprises and increasing investments in the mining sector. Moreover, stringent government regulations pertaining to mining operations and safety are fostering the adoption of advanced equipment, thereby fueling demand growth.

The market report delves into the analysis of major countries, including the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

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