- Diamond mining encompasses the exploration, extraction, and processing of natural and synthetic diamonds for use in jewelry, industrial applications, and research, driven by their unique properties such as hardness and thermal conductivity
- The market is propelled by strong demand for diamond jewelry, particularly in emerging markets like China and India, where rising disposable incomes and cultural significance drive consumption. Industrial applications, including cutting tools and high-tech sectors like quantum computing, further bolster demand
- North America holds a significant share of the diamond mining market, driven by industrial applications and established players in the U.S. and Canada, with Canada emerging as a key producer due to Arctic region developments
- Asia-Pacific is expected to witness the fastest growth during the forecast period, fueled by high jewelry demand in China and India, rapid urbanization, and increasing investments in synthetic diamond production
- The natural diamonds segment dominated the market with the largest market revenue share of 93.8% in 2024, driven by strong consumer preference for their perceived luxury, rarity, and status as a symbol of enduring value, particularly in jewelry applications
