Welcome!

News Feed Item

Grown Diamonds Contributing Steadily To The Gems & Jewellery Industry, Finds Frost & Sullivan

- Positive consumer outlook for grown diamonds, but challenging supply side factors restrain their market potential

SINGAPORE, March 27, 2014 /PRNewswire/ -- Demand for colorless diamonds in value and volume terms is higher than any other color of diamond in the Gems and Jewellery Industry. One of the key factors that prevented the adoption of grown diamonds in the Gems and Jewellery Industry over the last two decades was the inability to grow colorless diamonds. With the recent technological advancements, this has changed dramatically, and colorless diamonds which are identical to mined diamonds, are being grown in many countries.

New analysis from Frost & Sullivan, The Diamond Growing Greenhouses (http://www.industrialautomation.frost.com), based on a survey covering six large diamond buying countries, indicates high propensity of consumers to purchase grown diamonds. However, there are several unrecognized supply side factors that will affect the growth of grown-diamonds as a category. Taking these demand and supply side factors into account, Frost & Sullivan's latest research estimates the global sales revenue from grown polished diamonds by 2018.

Frost & Sullivan's survey in six countries indicates that changes in consumer preferences tending towards environmentally and socially responsible products is a key driver for the acceptance of grown diamonds by consumers.  Along with this, education will play an important role in making the customer understand the similarities between grown and mined diamonds, and the differences between grown diamonds and diamond look-alikes.

While industry participants are enthusiastic about the increasing consumer awareness, they are equally circumspect about restraints such as the slow increase in capacity in the diamond production facilities that have come up in Russia, China, Malaysia, Singapore, India, the USA and the Netherlands.

High operational cost is a key factor hampering the grown diamond industry.  "We are all still in the infancy of grown diamond, that there are many, many ways we find every day to reduce costs. We must think like manufacturers and get out of the R&D environment," said Mr. Michael McMahon, CEO of SCIO Diamond Technology Corporation, a leading grown-diamond producer.

Large capital required for raw material production and lack of knowledge in terms of equipment build, design, and application specific processes further affects production capacities. Mr. McMahon states that "technology is held close to the vest and it is not an easy science to apply. It takes years of development, then the ability for your technology to mass produce at the highest levels."

IIa Technologies Singapore, a leading grown-diamond producer, adds on this point that "even with all the body of knowledge that has been created over decades of work done on diamond growth, every time we face a challenge it's as though we are starting from scratch. The enormity of the challenge sometimes can take months to years to find a solution. And it doesn't stop there. Once you grow the diamond you have to get the application running, this increases the testing period from a research point of view and gestation period from a financial point of view."

High cost of equipment has also been identified as a major restraint to growth. "The cost of a chemical vapor deposition machine is definitely an entry barrier," noted Mr. Richard Garard, CEO of a leading grown diamond machine manufacturer, Microwave Enterprises. "Although some companies try to put together their own equipment, efficacy concerns remain."

Potential growth in the industry is dependent on thrusts from both the demand and supply side. From a consumer perspective, complete disclosure of origin and comparable certifications between grown diamonds and mined diamonds or diamond look-alikes are necessary to instill confidence in the consumer. At the same time, removal of descriptors such as 'synthetic' will help consumers understand the difference between grown diamonds and simulants.

From a supply perspective, a common voice from grown diamond producers will improve the image of their budding industry and facilitate their assimilation in a positive manner into the existing gems and jewellery industry.

The report may be downloaded through registering at this link: http://www.frost.com/sublib/display-market-insight.do?id=289565507

For media queries or if you are interested in more information on this study, please send an email to Jane Christensen, Corporate Communications, at [email protected], with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion

Join Us:           Join our community

Subscribe:       Newsletter on "the next big thing"

Register:         Gain access to visionary innovation

Contact:

Jane Christensen
Corporate Communications – Asia-Pacific
P: +65-6890-0958
F: +65-6890-0988
E: [email protected]

http://www.frost.com

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Today, we have more data to manage than ever. We also have better algorithms that help us access our data faster. Cloud is the driving force behind many of the data warehouse advancements we have enjoyed in recent years. But what are the best practices for storing data in the cloud for machine learning and data science applications?
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to great conferences, helping you discover new conferences and increase your return on investment.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER gives detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPOalso offers sp...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Sanjeev Sharma Joins November 11-13, 2018 @DevOpsSummit at @CloudEXPO New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...