Digital product suppliers are “losing job” due to falling demand for the precious stones, a report has found.
It said demand for diamond products had dropped by more than 60 per cent since 2014, and was expected to fall further.
Diamonds are a major global industry, but supply is limited due to demand curtailed by the coronavirus pandemic.
The Global Diamond Forum said its latest report on the industry, released today, found that demand had fallen by more that half in the last five years, and by more then half for diamonds made in the UK.
The group said its findings were “not surprising” given the pressures on diamond supply, particularly due to the coronovirus pandemics and the fact that the supply chain is increasingly becoming more complex.
Digital products are made by processing diamonds, which can take up to three weeks to create a diamond, and are then sold at a premium price.
Digital companies like Diamond Supply and Diamond Direct have struggled to find buyers for their products.
The companies’ owners have said that demand has been curtailed, and demand has fallen for years.
“Demand is low, but demand is growing,” Diamond Supply CEO Rob Folsom said.
“There are more and more people looking for diamonds to sell and more and better quality diamond suppliers are finding themselves on the margins.”
There are many factors behind the decline in diamond supply over the last few years, but it is the combination of a combination of poor economic conditions and a number of factors that has put a strain on the diamond industry.
“Diamonds are among the most important minerals in the world and the most valuable of all.”
The industry is suffering from poor market conditions and the loss of good paying jobs.
“The report, Diamonds, is a follow-up to the Diamond Supply Annual Report, released earlier this year, which said demand had declined by nearly 80 per cent in the past five years.
The report found that in 2016, the diamond market had grown by 20 per cent, from $1.3bn to $2.2bn, and in 2019 it would be up by more $400m.
In 2018, it would have grown by $200m, and the industry would have been up by another $500m.
Diamond Supply chief executive Rob Felsom said demand fell in the early years of the epidemic, but recovered in the later years. “
In the short term, the world is very competitive, and prices are low,” he said.
Diamond Supply chief executive Rob Felsom said demand fell in the early years of the epidemic, but recovered in the later years.
Mr. Folsoma said that over the years, demand has gone down due to “good economic conditions”.
He said: “We see the market becoming more and further complex and more expensive.”
In 2019, the value of diamonds was around $3.3 trillion, so if we take that $3 trillion and take it up to the $6 trillion that the market was in 2015, that means that the value will fall to around $2 trillion.
“Diamonds in the marketplace are a key source of income for the Diamond Direct Group, which makes diamonds for a range of clients including mining companies, jewellers, luxury brands and retailers.
Diamond Direct sells its products to major retail retailers like Target, Gap and Kohl’s, as well as to the diamond supply chain, which includes diamond manufacturers, retailers and jewelry manufacturers.
Diamond products also make up around 20 per, 10 per cent of Diamond Direct’s sales.
Diamond companies have struggled with rising costs and a lack of demand for their product.
They have also been criticised for overcharging their customers for diamonds that they do not sell, such as the $40-million price tag on the new Hyper Diamond Collection.