The diamond painting market is undergoing a renaissance, with consumers spending more than $300 billion a year, according to a new report from the Institute for New Economic Thinking.
The market is worth an estimated $9.5 trillion, according the report, which was commissioned by the Smithsonian Institution and the National Geographic Society.
The institute, which tracks global art, jewelry and art-related markets, said the diamond paint industry is a $20 billion industry with more than 200,000 shops in more than 80 countries.
The report says that in 2016, consumers spent $8,400 on jewelry.
The diamond paint market is expected to reach $21.5 billion by 2020.
The industry is growing rapidly.
As of the end of 2018, the industry was worth about $8 billion, with a market share of about 20 percent.
The research firm also noted that the industry is expected increase to $30 billion by 2021.
The painting industry, like many industries, is also experiencing a sharp decline in the popularity of painting as a form of art.
The study estimates that only 6 percent of Americans are painting in their homes and offices.
In 2020, that number was about 4 percent.
“The painting market has been declining for many years, but now the painting is undervalued by $100 billion,” said INET senior fellow Andrew Tully, who authored the report.
The paint industry’s decline has been driven by an increasing number of consumers moving away from traditional painting and toward digital and painting services.
The IET also found that painting is experiencing a surge in the number of paint-based applications and applications for digital painting, including digital art and digital printing.
The number of applications for painting is projected to hit more than 9 million by 2020, according a new study from the National Institute of Standards and Technology.
But it’s not just painting that’s suffering.
Paint-based services are also facing a downturn in the U.S. market, with applications for paint-on-demand, paint-painting and paint-washing services down.
Paint was used for many types of painting in the early 1900s, but it is now mostly being used for digital art.
As the market for painting declines, so will the demand for painting, Tully said.
“People are looking at digital painting more as an alternative to painting,” he said.