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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Rough Ruby Market Growth
Rough rubies are the uncut and unfaceted form of the ruby gemstone, as they are naturally mined from the earth's crust. Ruby, a variation of aluminium oxide, is a highly sought-after coloured gemstone known for its vibrant shades of red. These raw ruby stones are created under intense pressure and heat deep within the earth, where atoms of aluminium and oxygen combine in the presence of chromium to form these precious rubies.
The growth of the rough ruby market can be primarily attributed to the increasing demand for ruby jewellery and ornaments. The allure of ruby in the jewellery industry, coupled with its aesthetic appeal and symbolic significance, is driving consumers towards rough rubies.
Rough Ruby Market Report Snapshots
Rough Ruby Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The rough ruby market value is expected to grow at a CAGR of 5.00% between 2024 and 2032.
The major drivers of the market include the rising demand for jewellery and decorations featuring rubies and rising consumer disposable incomes.
The popularity of ruby stone in crystal healing, rising consumer belief in astrology, and growing demand of rough rubies in gemstone collections are the key trends propelling the growth of the market.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The value of a raw ruby depends upon the clarity and carat, with raw rubies of fine quality estimated to be worth USD 1,000 per carat.
The hue of the finest rubies ranges from bright, pure red to slightly purplish red. In most marketplaces, rubies with only red overtones sell for less money than those with orange and purple undertones.
Rubbing a rough ruby across a hard yet smooth surface such as glass can be an indication of authenticity as real rough rubies would not leave colour behind, whereas imitations may leave a colour residue.
Based on carat, the market can be segmented into up to 8 carat, 8-12 carat, and 13-15 carat, among others.
Based on sales channel, the market is segmented into direct auction and indirect, among others.
Key players in the market are Gemfield Plc, Gem Bridge, Mwriti Limitada, FURA Gems, and Gem Rock, among others.
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