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# Who Will Dominate the Diamond Industry?

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<!-- video src="https://cdn.jwplayer.com/manifests/KCHqnytY.m3u8" -->
## Video: Who Will Dominate the Diamond Industry?

[Watch (HLS stream): Who Will Dominate the Diamond Industry?](https://cdn.jwplayer.com/manifests/KCHqnytY.m3u8) (1:25)

![Who Will Dominate the Diamond Industry?](https://cdn.jwplayer.com/v2/media/KCHqnytY/poster.jpg?width=720)

_Published 2014-10-08. Diamonds Are Not Forever_


---

Jul 27, 2023 5:21 PM UTC

---

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### Cal Ripken Jr Has a Baseball Diamond in His House

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### A diamond mine in the Democratic Republic of Congo

---


## Transcript

The saying a diamond is forever may soon not be true. [ MUSIC ] De Beers cartel which has long dominated the $ 79 billion diamond industry recently announced that global production may decline gradually. After 2020. Although the U. S. is still the largest market for diamonds, China's thirst for the sparkly stuff is the fastest growing with India close behind. China now claims about 15 % of the world's market. Newlyweds and an expanding middle- class. Are fueling China's demand. By 2015 the middle class in China and India is expected to be double the size it was in 2010. However, the U. S. still reigns supreme, earning about 40 % of the diamond market.

As demands for diamonds increase. Prices will continue to rise. Diamond mines in Botswana, South Africa, and Namibia are depleting. And exploration has turned to Angola, The Democratic Republic of Congo, and Zimbabwe, Arctic Siberia, and Canada. DeBeers has said that unless new mines are discovered in the upcoming years. A shift in the industry to a sellers market is inevitable.

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