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Synthetic Gemstone Global Market Report 2024 - By Trends, Size, Share, Growth, Forecast To 2033
Synthetic Gemstone Market
As per the report, the synthetic gemstone market size has grown steadily in recent years. It will grow from $22.44 billion in 2023 to $23.36 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The synthetic gemstone market size is expected to see steady growth in the next few years. It will grow to $27.96 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%.
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What Is Driving The Growth Of The Global Synthetic Gemstone Market?
Jewelry Industry Boom Fuels Synthetic Gemstone Market Growth
The rise in the jewelry industry is expected to propel the growth of the synthetic gemstone market going forward. The jewelry industry involves creating, producing, and retailing adornments such as rings, necklaces, and bracelets crafted from precious metals and gemstones. The rise in the jewelry industry is due to embracing synthetic gemstones due to their ethical sourcing, cost-effectiveness, and consistent quality, catering to the growing consumer demand for sustainable and affordable luxury options. Synthetic gemstones contribute to the jewelry industry by providing cost-effective, ethical, and high-quality alternatives to natural gemstones, fostering innovation, and enabling jewelers to meet diverse consumer demands while minimizing environmental impact.
What Is The Key Trend In The Global Synthetic Gemstone Market?
Innovative P-Series And U-Series PCD Developments Propel Synthetic Gemstone Market Forward
Major companies operating in the synthetic gemstone market are focused on developing innovative products, such as polycrystalline diamond (PCD), to enhance the performance and durability of their gemstones. Polycrystalline diamond (PCD) is a synthetic diamond product of numerous small diamond-bonded grains. This material is valued for its hardness, wear resistance, and thermal conductivity.
How Is The Global Synthetic Gemstone Market Segmented?
The synthetic gemstone market covered in this report is segmented -
1) By Type: Ruby, Emerald, Spinel, Other Types
2) By Distribution: Online, Offline
3) By Application: Jewelry, Instrument, Other Applications
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How Is The Competitive Landscape Of The Global Synthetic Gemstone Market?
Major companies operating in the synthetic gemstone market are Kyocera Corporation, Swarovski AG, Gemfields Group Limited, Gilson Inc., The Asha Company, RusGems, Charles & Colvard Ltd., R C Gems, Diamond Nexus Labs, Astro Gallery of Gems, Chatham Inc., BetterThanDiamond Inc., Biron Gems, Scio Diamond Technology Corporation, Karat Patch Inc., Gem World, KP Gems, Djeva, Vala Brothers, Aini Gems
Contents Of The Global Synthetic Gemstone Market
1. Executive Summary
2. Synthetic Gemstone Market Report Structure
3. Synthetic Gemstone Market Trends And Strategies
4. Synthetic Gemstone Market - Macro Economic Scenario
5. Synthetic Gemstone Market Size And Growth
…..
27. Synthetic Gemstone Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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