Global Lab Grown Diamonds Market Projected To Reach $49.9 Billion By 2030

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PALM BEACH, Fla., Dec. 21, 2022 /PRNewswire/ -- Lab grown diamonds are made in laboratories and factories. These diamonds are identical to natural diamonds in their composition and appearance. Diamonds made in labs are generally of better quality than natural diamonds as they are made in controlled environments with constant monitoring and quality control. Increase in adoption of lab grown diamonds in the fashion and jewelry sector, along with increasing application of these diamonds in the industrial sector have spurred the demand for lab grown diamonds across myriad of industry verticals. These lab grown diamonds can also be customized and personalized as per requirement, which further adds advantages apart from them being highly economical, sustainable, and environment friendly. Lab grown diamonds are manufactured using techniques such as HPHT, which stands for high pressure and high temperature and CVD, which stands for chemical vapor deposition. A report from Allied Market Research projected that the global lab grown diamonds market size is projected to reach $49.9 billion by 2030, registering a CAGR of 9.4% from 2021 to 2030. The report said: "Lab grown diamonds are very highly used in a myriad of applications. Some of these applications have existed for a long time, however, some applications are newer as research has led to discoveries about newer properties of diamonds that can be applied to a wide variety of newer applications. The most traditional use of diamonds in the industrial sector is for cutting, drilling and mining. As the quality of diamonds doesn't matter for these applications, HPHT diamonds are used. Newer applications of diamonds, in optics, lasers, and electronics to name a few are slowly emerging, leading to more growth potential for lab grown diamonds. The use of synthetic diamonds in jewelry making is increasing, with more focus being given to fashion jewelry." Active Companies in the markets today include Adamas One Corp. (NASDAQ: JEWL), Signet Jewelers Limited (NYSE: SIG), Rio Tinto Group (NYSE: RIO), The RealReal (NASDAQ: REAL), LVMH Moët Hennessy - Louis Vuitton, Société Européenne (OTCPK: LVMUY).

Allied Market Research added: "CVD segment would exhibit the highest CAGR of 10.1% during 2021-2030. According to the method of manufacturing, HPHT was the first method used for creation of lab grown diamonds, while CVD is a relatively new technique. Low costs associated with CVD production of diamonds and low space consumption of the CVD machines has led to a greater adoption of the CVD manufacturing technique for lab grown diamond. Lab grown diamonds industry was negatively impacted by the pandemic owing to disruption in supply chains and exports form countries like China and India. Sale of lab grown diamonds is predicted to increase post pandemic as more importance is being given to sustainability and environment friendliness."

Adamas One Corp. (NASDAQ: JEWL) BREAKING NEWS: Adamas One Retains Patent and Trade Mark Counsel Protecting and Expanding its Proprietary Chemical Vapor Deposition Methodology for Laboratory Diamond Growth - Adamas One Corp. ("Adamas One" or the "Company"), The Original Lab-Grown Diamond Company™, a high-tech company that leverages proprietary technology to produce high-quality, single-crystal, Lab-Grown Diamonds for jewelry and diamond materials for industrial uses, today announces it has retained patent counsel  Schwegman, Lundberg, Woessner to reinforce and expand its current intellectual property portfolio around Adamas' proprietary chemical vapor deposition methodology and equipment for lab-grown diamonds.  Some of Adamas' current patents that have been issued require updates and normal maintenance, which is underway.

Adamas One CEO Jay Grdina comments, "We have extensive proprietary intellectual property around our methodology and systems (equipment) around our lab grown diamond technology. The protection of these methods and systems is paramount to our achieving our commercial goals and to protecting our proprietary methodology for growing diamonds for commercial and industrial use in the laboratory. We believe that we have made some great achievements over the last 2 years of research and development. We will be looking to apply for additional patents furthering our goal of [technology domination] within the lab grown sector. We anticipate completing the update regarding our current patents with the USPTO shortly and will update shareholders as appropriate."

Adamas One holds 28 issued patents in the United States and 8 issued patents in other countries, including Australia, Canada, China, India, and South Africa.  The Company believes its most critical intellectual property is with regard to the method using plasma-based Chemical Vapor Deposition ("CVD"), and the system and method around producing lab grown diamond.  The portfolio as a whole covers techniques, methods, and systems to grow single crystal diamonds using the Company's proprietary CVD methodology.  The patents apply to gems, semiconductors and lasers related to the use of synthetically grown diamonds, and techniques useful in the manufacturing and cutting of gems. CONTINUED… Read this full release for Adamas One at: https://ir.adamasone.com/news-events/press-releases/default.aspx 

Other recent developments in the markets include:

Signet Jewelers Limited (NYSE: SIG), the world's largest retailer of diamond jewelry, recently announced its results for the 13 weeks ended October 29, 2022 ("third quarter Fiscal 2023").  "Our strong third quarter results exceeded guidance and evidence why we believe Signet is uniquely positioned to deliver consistent market share growth and value creation," said Virginia C. Drosos, Chief Executive Officer. "Our financial strength and flexible operating model are enabling continued strategic investments that are widening our competitive advantages. We have acquired 22.5 million new customers over the past five years, driving revenue and market share growth, and these customers are younger, more affluent and highly diverse with meaningful lifetime purchasing power. Our team's culture of innovation, agility and rigorous execution continue to drive advantage."

"We're raising our full-year guidance with confidence in the sustainability of an annual double-digit non-GAAP operating margin, which reflects current business trends and is now inclusive of Blue Nile," said Joan Hilson, Chief Financial and Strategy Officer. "We are entering this Holiday season with the healthiest and most consumer-inspired inventory in our history -- down 2% despite tiering up our Accessible Luxury offering and with clearance at the lowest levels since our transformation began, excluding acquisitions. Today, nearly all of our inventory is immediately available to customers whenever, wherever and however they choose to browse, shop and buy with us which is driving inventory turns nearly double pre-transformation levels."

Rio Tinto Group (NYSE: RIO) Rio Tinto has recently completed its acquisition of Turquoise Hill Resources Ltd (TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill") for a consideration of approximately $3.1 billion, simplifying its ownership of the world-class Oyu Tolgoi mine in Mongolia, significantly strengthening Rio Tinto's copper portfolio, and demonstrating its long-term commitment to the project and Mongolia.

Rio Tinto now holds a 66% direct interest in the Oyu Tolgoi project with the remaining 34% owned by the Government of Mongolia through Erdenes Oyu Tolgoi. The transaction closed following approval from the Yukon court in Canada and the majority of TRQ minority shareholders supporting the deal.

Rio Tinto Chief Executive Jakob Stausholm said "Oyu Tolgoi is an outstanding asset with incredible people that will deliver significant long-term value for Rio Tinto and Mongolia.

The RealReal (NASDAQ: REAL) recently reported financial results for its third quarter ended September 30, 2022. The company reported top-line growth and continued to deliver operating expense leverage.

"As we continue to focus on profitable growth, our objective is to accelerate our timeline to profitability and demonstrate the efficacy of our business model. We believe there are levers in the business that may enable us to reach profitability with lower top-line growth than previously projected. To this end, we are focused on the following strategic initiatives: (1) overhauling our consignor commission structure, (2) further optimizing our pricing, (3) taking a more aggressive approach on costs, and (4) capitalizing on potential new revenue streams. We are confident that these strategic initiatives will have a meaningful positive impact on our business. However, it may take a quarter or two for these initiatives to be fully reflected in our financial results." said Rati Sahi Levesque, Co-Interim Chief Executive Officer ("CEO") and President of The RealReal.

LUSIX, a leading producer of lab-grown diamonds (LGD), recently announced that high-profile investors, including LVMH Moët Hennessy - Louis Vuitton, Société Européenne (OTCPK: LVMUY), Ragnar Crossover Fund and More Investments, have completed an investment round of $90 million. The Company will use this investment to fuel its growth initiatives, notably the expansion of its production capacity in Israel with a second 100% solar-powered state-of-the-art facility, which will commence production this summer. The new facility will enable LUSIX to better serve the increasing demand for LGD, from its clients worldwide and from the overall industry.

LUSIX was founded by visionary entrepreneur and prolific inventor Benny Landa, within Landa Labs, the science innovation and incubation platform of the Landa Group. LUSIX was spun-off in 2016 as a separate disruptive business relying on robust R&D foundations and experienced teams of experts, around co-founder and current CTO Dr. Yossi Yayon.

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