According to Gulf News, the famous Dubai DMCC (Multi Commodity Trading Center) will hold a diamond cultivation seminar on July 10th. At that time, multiple representatives from the global diamond industry and its technical fields will participate in this conference, including producers, processors, retailers, investment institutions, government officials from various countries, and so on.
This meeting will focus on topics including financing and regulation, marketing, sustainable development, and so on for cultivating the diamond industry.
The media believes that in recent years, the cultivation of the diamond industry has been recognized in terms of sustainability and ethical concepts, and has developed rapidly with the continuous progress of technology. From the perspective of DMCC, they have recognized the potential, challenges, and benefits of disruptive industries since the introduction of Japanese cultured pearls around 1930. (Viewpoint derived from Ahmed Bin Sulayem, CEO of DMCC)
Dubai will further promote dialogue on cultivating the diamond industry and recognize that this product represents a new and unique industry. Whether it is in the jewelry or semiconductor fields, cultivating diamonds has development opportunities
In addition, ResearchandMarkets recently released a new industry report stating that the global nurturing diamond industry has shown good development momentum in 2022, with a total market value of $22.45 billion and expected to exceed $37.3 billion by 2028. From 2023 to 2028, the compound annual growth rate of this market is around 9%
Based on a general understanding of the report, we believe that the above data should include applications in the industrial field, as the report highlights multiple industries besides jewelry, such as biotechnology, quantum computing, high sensitivity sensors, optics, medical equipment, and so on.
In the industrial field, the report believes that the growth of CVD diamonds will be faster because of its lower production costs, smaller machine space, increasing ability to grow diamonds on various substrates, and precise control of diamond impurities and characteristics.
In the consumer sector, the report suggests that the market will be divided into three sectors: below 2 carats, 2-4 carats, and above 4 carats, with the market growth rate below 2 carats being the fastest.
From the perspective of future trends, artificial intelligence may play an important role in cultivating data analysis, product pricing, diamond grading and classification technologies in the diamond industry. Provide convenience for traders by analyzing market data, pricing trends, and providing more accurate diamond pricing.
At the same time, the complexity of the manufacturing process and competition from the natural diamond industry are both practical challenges that need to be faced in cultivating the diamond industry.
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