Global Synthetic Diamond Market - Segmented by Type, Product, Manufacturing Process, End-User Application and Geography – Trends and Forecasts (2016 - 2021)
The Global Synthetic diamond market is estimated at USD XX million in 2017 and is expected to grow at a CAGR of X.X%, to reach USD XX million by 2022.
Synthetic diamond, also known as cultured diamond, cultivated diamond or artificial diamond, is produced using an artificial process, unlike natural diamond, which is produced using a geological process. These diamonds exhibit similar properties like natural diamonds and can be manufactured at a lower cost. They are widely used in various end-user industries. Synthetic diamond can be used for grinding, polishing, milling, cutting and drilling as an abrasive due to its high rigidity. These diamonds also have good electrical and thermal properties and are used in electronics as material for wafer substrate and conductors. Synthetic diamond is also referred to as HPHT diamond or CVD diamond depending on the manufacturing process, high-pressure high-temperature (HPHT) and chemical vapor deposition (CVD).
Increased mining restriction in various countries are the major driving force for the promotion of lab-grown diamonds in the global market. In addition, rising demand for end use applications such as in electronics and super abrasives industry are some of the key factors for propelling the growth of synthetic diamond further in the global market.
Synthetic diamonds are segmented by the way they are manufactured, i.e. high-pressure high-temperature (HPHT) and chemical vapor deposition (CVD) methods. These diamonds are also categorized by type into polished or rough. The product segment divides synthetic diamonds divided into dust, grit, stone, bort and powder. Depending on the end-user application, they are divided into jewelry, electronics, construction, mining and healthcare.
The market has been geographically segmented into Asia-Pacific, Europe, North America and the Rest of the World. Asia-Pacific is the biggest market for the synthetic diamond, with over 50% share of the global synthetic diamond market, in 2014, due to an increase in the end-user application. This is also due to the increase in mining activities in India, China and ASEAN countries. Some of the key players in synthetic diamonds market include Element Six, Scio Diamond Technology Corporation, AOTC, Applied Diamond Inc., D.NEA, ILJIN Diamond, Washington Diamonds, and others.
Key Deliverables in the Study
Market analysis for the global synthetic diamond market, with region-specific assessments and competition analysis on global and regional scales. Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities. Extensively researched competitive landscape section with profiles of major companies along with their market share. Identification and analysis of the macro and micro factors that affect the global synthetic diamond market, on both global and regional scales. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.