The United States was once considered the core of the diamond industry. It was the property of the United States Vision, mass-consumerism, and completely new money. However, the United States’ economy is lagging behind the extreme growing markets in the Far East, such as India and China. While Diamond supply in America declined after the global economic crises witnessed in the past decade, markets have indeed surged in the East, to the point that in 10 years the Chinese demand for diamonds could attain the same level as the United States.
Companies like De Beers continues to monopolize diamond supply globally, accumulating up to 95% of the World’s supply of diamonds at some point. They mostly source their diamonds from India and Africa and distribute it through the use of selected retailers on a tight approval concept.
Diamond Growth In China and India
In spite of this, it seems like the rise of the diamond marketplace in China is not complete because of the strong presentation of the local financial system and stock markets. Plenty of it has to do with wedding events and customs in China. According to research, twenty years back, it was uncommon for Chinese women to get diamond engagement rings. However, at present nearly fifty per cent of married couples in Beijing, Shanghai, and Guangdong procure them. While in the USA there is a growing trend to use alternatives for Diamonds in engagement rings, it would seem that China is moving in the opposite direction.
The expansion of the diamond market in China is crucial, since China is only responsible for six to seven present of the world diamond market while the USA accounted for approximately 40% of it. Research has foreseen the Chinese demand for diamond will double by the year 2016.
The same development is evident in India presently, where “the diamonds market has been showing a growth activity of about 15% during a period when (gold) shows minimal growth. “ The diamonds market in India continues to be rising and is represents the same process in India. According to specialists, that is because, with gold prices on the high side, people are shifting from purchasing real gold to diamonds.
Research says that, in May 2010, India’s refined diamond exports rose 73% in the last twelve months, to approximately $1 .8 billion. India is often known as a major center of diamond polishing and cutting, and has a hand in nine out of eleven diamond jewelry that are produced worldwide. Other than India, Dubai and Honk Kong are likewise developing as major trading points.
It will be intriguing to see how the diamond business transforms over the next ten years. While the diamond market is rebounding well from the global economic crisis, there are lots of problems the diamond market must tackle over the next decade, particularly a fall in the diamond supply later on. According to the data available, diamond supply is going to witness some significant decline in the future considering heavy mining witnessed in the past three decades ago.
Diamond Growth With Salt And Pepper Diamonds
As with all things in Diamonds, there are always events that change the direction of the industry. One such example is the rise of the salt and pepper Diamond. These Diamonds are white Diamonds with black inclusions inside them creating a peppered look. In the USA these Diamonds are gathering in popularity. The are unqiue, individual and beautiful, which is want the modern women wants for a ring.