How big is the global diamond market?
How big is the global diamond market?
In 2020, the total value of the diamond jewelry market worldwide amounted to 68 billion (nominal) U.S. dollars.
What is the global diamond trade?
The global Diamond Trade is a massive industry that affects various countries and continents all around the globe, both positively and negatively. Diamonds are minerals that are found and mined in some of the oldest and hardest continents and areas on Earth such as Africa, Asia and South America.
How much is the diamond market worth?
In 2019, for example, the sales value of rough diamonds amounted to some 13.9 billion U.S. dollars worldwide. After polishing, the value increased by nearly double to 26.7 billion U.S. dollars. In 2019, the global diamond jewelry market value was approximately 79 billion U.S. dollars.
How much is the diamond industry worth 2021?
Independent research firm, Edahn Golan Diamond Research & Data reports that overall U.S. jewelry sales advanced a stunning 41% from January through May 2021 to total $32 billion, up from $22 . 7 billion in the same period 2019.
Who controls diamond market?
De Beers
From its inception in 1888 until the start of the 21st century, De Beers controlled 80% to 85% of rough diamond distribution and was considered a monopoly….De Beers.
| Key people | Mark Cutifani (Chairman) Bruce Cleaver (CEO) |
| Products | Diamonds |
| Services | Diamond mining and marketing |
| Revenue | US$6.08 billion (2018) |
What is India’s role in the diamond market?
India is the world’s largest cutting and polishing center for diamonds, accounting for over 90% of polished diamond manufacturing globally. This is attributed to factors such as the easy availability of high skilled labour, cutting-edge technology, and lower costs involved.
What is the distribution of the diamond in the world?
Distribution of Diamond in the world The world reserves of industrial diamond are about 700 million carats located mainly in Australia (31%), Congo (Kinshasa) (21%), Botswana (19%), South Africa (10%) and Russia (6%). The principal producers of diamonds are Russia (31%), Botswana (20%), Congo Dem.
Who controls the world diamond market?
De Beers S.A., South African company that is the world’s largest producer and distributor of diamonds. Through its many subsidiaries and brands, De Beers participates in most facets of the diamond industry, including mining, trading, and retail.
Why are diamonds in high demand?
The increase in diamond prices was driven by strong demand for jewelry in the U.S. and China set against limited supply as diamond mining and cutting remain low. Rough diamond sales from the world’s leading supplier in the jewelry industry, De Beers Group, amounted to $3.5B in 2021 and exceeded sales from 2020 ($2.8B).
Is diamond market a monopoly?
From its inception in 1888 until the start of the 21st century, De Beers controlled 80% to 85% of rough diamond distribution and was considered a monopoly….De Beers.
| Key people | Mark Cutifani (Chairman) Bruce Cleaver (CEO) |
| Products | Diamonds |
| Services | Diamond mining and marketing |
| Revenue | US$6.08 billion (2018) |
Where are most of the world’s diamonds found?
Diamonds are present in about 35 countries. South Africa, Russia and Botswana are the main producers of gem diamond while Australia produces most of the industrial diamond. They are also found in India, Russia, Siberia, Brazil, China, Canada and the United States.
Who is the largest exporter of diamonds?
In 2020, India was the largest exporter of diamonds worldwide, amounting to a total value of 15.2 billion U.S. dollars. This compared to the 10.5 billion U.S. dollars of diamonds exported by the Hong Kong that year, ranked second.
How much is the global diamond market worth?
In 2019, the global diamond jewelry market value was approximately 79 billion U.S. dollars. Nearly half of the world’s demand for polished diamonds comes from the United States, with a 48 percent share of global demand in 2019.
What is the future of the diamond market in China?
The repatriation trend is expected to subside in the long term, once global travel resumes, but new consumers in lower-tier cities will provide continued demand for jewelry and drive further growth in China. The diamond value chain is becoming more digital, although brick-and-mortar stores still have value.
Which country is the largest producer of diamonds?
The dominant companies and processing structures of the diamond industry The global diamond mining industry is largely dominated by a hand-full of companies. The top three companies – Alrosa from Russia, De Beers from Luxembourg, and British-Australian Rio Tinto – account for more than 60 percent of global diamond mine production.
What does our 10th annual report say about the diamond industry?
Our tenth annual report looks at performance in 2019, reviews the effects of the Covid-19 pandemic in 2020, and updates our long-term outlook for the diamond industry through 2030. Welcome to the tenth annual report on the global diamond industry, prepared by the Antwerp World Diamond Centre (AWDC) and Bain & Company.
