Home Press Releases Diamond cutting and polishing Market Size Worth $29.85 Billion By 2032 | CAGR: 3.5%

Diamond cutting and polishing Market Size Worth $29.85 Billion By 2032 | CAGR: 3.5%

The global diamond cutting and polishing market size is expected to reach USD 29.85 billion by 2032, according to a new study by Polaris Market Research. The report “Diamond Cutting and Polishing Market [By Category (Cutting, Polishing); By Technology (Laser Diamond Cutting and Polishing, CNC Diamond Cutting and Polishing, Others); By Product Type (Automated, Semi-Automated)], and Geography – Trend, Analysis and Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The diamond cutting and polishing industry is expected to grow at the quickest rate over the forecast period due to the rising living standards owing to increased disposable income and increasing technological interventions in the diamond cutting and polishing process.

 

Asia Pacific region has emerged as one of the diamond-cutting and polishing markets with the fastest growth rates due to rising demands for manufacturing industrial equipment. Innovative jewelry designs offered in the last decade propelled the demand from millennials in India and China.

 

Additionally, the online sales channels provided by e-commerce companies coupled with features including the return policy and easy finance further boost this market.

 

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The diamond cutting and polishing industry is expected to grow at the fastest rate over the forecast period due to the rising living standards owing to increased disposable income and growing technological interventions in the diamond cutting and polishing process.

 

Asia Pacific region has emerged as one of the diamond-cutting and polishing markets with significant growth rates due to rising demands for manufacturing industrial equipment. Innovative jewelry designs offered in the last decade propelled the demand from millennials in India and China. For instance, APAC country like India contributes a significant share of about 90% in processing rough diamonds due to cheap labor availability, further boosting the demand from major mining countries like Russia and South Africa.

 

Additionally, the online sales channels provided by e-commerce companies and features, including the return policy and easy finance, further boost this market.

 

Diamond Cutting and Polishing Market Report Highlights

  • Further to the wide applications of diamonds in Jewelry and industrial purpose, its use in medical science, the wellness industry, and next-generation computing gives a positive growth outlook for diamonds.
  • In the past few years, the diamond processing industry has witnessed a major technological revolution. Advanced computer systems like 3D mappings, robots like Fenix, and many more have been utilized to cut and polish rough diamonds precisely and in a reduced time over traditional processing methods.
  • The COVID-19 epidemic harmed the diamond cutting and polishing market from both the demand and supply side. Shut down of Jewelry, and other industrial production units declined the demand. And the supply chain disruption in export and imports further created a supply-side constraint in the market. Additionally, other macroeconomic factors, such as political conflicts in Hong Kong and US-China trade war, have muted the demand in FY 19 and FY20.

 

Polaris Market Research has segmented the Diamond cutting and polishing Market report based on category, technology, product type and region:

 

Diamond cutting and polishing, Category Outlook (Revenue – USD Billion, 2019 – 2032)

  • Cutting
  • Polishing

Diamond cutting and polishing, Technology Outlook (Revenue – USD Billion, 2019 – 2032)

  • Laser Diamond Cutting and polishing
  • CNC Diamond Cutting and Polishing
  • Others

Diamond cutting and polishing, Product Type Outlook (Revenue – USD Billion, 2019 – 2032)

  • Automated
  • Semi-Automated

Diamond cutting and polishing, Regional Outlook (Revenue – USD Billion, 2019 – 2032)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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