Data Bridge Market Research analyses that the synthetic diamond market will witness a CAGR of 7.00% for the forecast period of 2021-2028. Improvement in technologies to avoid impurities, growing use of synthetic diamond for a wide range of applications such as gem, heat sinks/exchangers, high-end electronics, laser and x-ray, machine and cutting tools, surgical machinery, water treatment, quantum computing and others and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the synthetic diamond market.
Synthetic diamonds are the diamonds that are similar in chemical composition, physical properties and crystal structure as that of natural diamonds. However, the synthetic diamonds are manufactured in the laboratory. As a result, the cost of synthetic diamonds is much less than natural diamonds. Synthetic diamonds are made available to the customers according to their preferences for shape and size.
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The rise in demand for synthetic diamonds by the semiconductors and electronics is the root cause fuelling up the market growth rate. Rising industrialization coupled with increasing personal disposable income will also directly and positively impact the growth rate of the market. Growth and expansion of fashion industry and other end user verticals will further carve the way for the growth of the market. Increasing prevalence of super abrasives for grinding, cutting, dressing, and drilling tools will also bolster the market growth rate.
However, unfavourable market conditions arising as a result of coronavirus outbreak will pose a major challenge to the growth of the market. Also, consumers’ preference towards original diamonds and adverse behaviour towards synthetic jewellery will dampen the market growth rate. Complexities in the manufacturing process will further derail the market growth rate. Lack of strong marketing and branding structure will also create hindrances for a smooth growing market rate.
This synthetic diamond market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on synthetic diamond market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Global Synthetic Diamond Market Scope and Market Size
The synthetic diamond market is segmented on the basis of type, manufacturing process, product and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
On the basis of type, the synthetic diamond market is segmented into polished and rough. Polished segment is sub-segmented into jewelry, electronics, healthcare and other polished type. Rough segment is sub-segmented into construction, mining, oil and gas and other rough types.
Based on manufacturing process, the synthetic diamond market is segmented into high pressure, high temperature and chemical vapour deposition.
Based on product, the synthetic diamond market is segmented into bort, dust, grit, powder and stone.
Based on application, the synthetic diamond market is segmented into gem, heat sinks/exchangers, high-end electronics, laser and x-ray, machine and cutting tools, surgical machinery, water treatment, quantum computing, optical, sensors and scanning, medical and electrical.
Global Synthetic Diamond Market Country Level Analysis
The synthetic diamond market is analysed and market size, volume information is provided by country, type, manufacturing process, product and application referenced above.
The countries covered in the synthetic diamond market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Asia-Pacific dominates the synthetic diamond market and will continue to flourish its dominance during the forecast period owing to the growth and expansion of various end user verticals in this region, rising industrialization, urbanization and growth in the number of manufacturing activities especially in the emerging economies like India and China. Ever-rising population and increasing personal disposable income are some other market growth determinants.
The country section of the synthetic diamond market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Synthetic Diamond Market Share Analysis
The synthetic diamond market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to synthetic diamond market.
The major players covered in the synthetic diamond market report are Element Six UK Ltd., Sumitomo Electric Industries, Ltd., Pgd, Scio Diamond, Applied Diamond Inc, HEYARU, Sandvik AB; (publ), ILJIN DIAMOND CO., LTD., Henan Huanghe Whirlwind CO.,Ltd., Zhengzhou Sino-Crystal Diamond Co.,Ltd., Industrial Abrasives Ltd, Schlumberger Limited, Laxmi Impex, Swarovski., Soham Industrial Diamonds., Eco Star Diamond, Krystal Grown Diamonds, Inc., HeNan LiLiang Diamond Co., Ltd, New Diamond Technology and FOREVER COMPANIES. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Global Synthetic Diamond Market By Type (Polished and Rough), Manufacturing Process (High Pressure, High Temperature and Chemical Vapour Deposition), Product (Bort, Dust, Grit, Powder and Stone), Application (Gem, Heat Sinks/Exchangers, High-end Electronics, Laser and X-ray, Machine and Cutting Tools, Surgical Machinery, Water Treatment, Quantum Computing, Optical, Sensors and Scanning, Medical and Electricals), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
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