Synthetic Diamond Market to Reach Valuation of US$ 34.3 bn by 2027; Increased Utilization of Synthetic Diamond for Industrial Purposes Boosts Sales Avenues, Notes TMR

- The synthetic diamond market is expected to reach the valuation of US$ 34.3 Bn by 2027. Rise in emphasis on quality of gems is projected to drive sales avenues in the market.

- The market is anticipated to experience growing product demand from developing countries of the Asia Pacific region

ALBANY, N.Y., Oct. 6, 2021 /PRNewswire/ -- The application of synthetic diamonds is increasing across a wide range of end-use industries owing to several properties they possess. Due to the unique combination of acoustic, mechanical, thermal, electrical, electrochemical, and optical properties of this product, the synthetic diamond market is projected to witness prominent sales opportunities during the forecast period, 2019–2027.

Dust, bort, powder, stone, and grit are some of the products available in the global synthetic diamond market. Chemical vapor deposition (CVD) and high pressure high temperature (HPHT) are two main techniques utilized in the manufacturing of these products.

The global synthetic diamond market is anticipated to expand at a CAGR of 7.2% during the forecast period, according to the analysts of a research report by Transparency Market Research (TMR).

Players are experiencing increasing demand for synthetic diamond owing to its many properties such as thermal conductivity, electron mobility, and hardness.

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Synthetic Diamond Market: Key Findings

• Growth in Industrial Applications of Product Fuels Market Expansion

Owing to the identical properties of diamond and synthetic diamond, a surge in the demand for the latter is observed from numerous end-use industries. The rising product use in the manufacturing of computer chips is likely to boost market growth.

• Increasing Efforts to Discover Other Applications of Synthetic Diamond Promises Market Growth

Synthetic diamonds are gaining traction owing to their high level of purity. Several countries across the globe are increasing R&D activities to find more applications of the product. These efforts are likely to help in the market expansion in the near future.

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Synthetic Diamond Market: Growth Boosters

• Synthetic diamonds are extensively utilized in machine production, mining, medical procedures, construction, experimental physics, space science, electronics, and stone cutting and cleaning activities. This broad range of product application creates promising sales opportunities in the synthetic diamond market.
• During gas & oil drills procedures, synthetic diamonds are utilized owing to their property of hardness. Moreover, the product is widely used in household and industrial water treatment activities.
• In recent years, the use of synthetic diamond locators of bright light particles is increased at high-energy analysis services. This factor is expected to help boost the sales for market players.
• In recent years, many companies are developing extremely thin CVD diamond plates, which can be utilized in the production of electronics items. Owing to technological advancements in the industry, the scope of application of synthetic diamonds is projected to expand in the near future, which, in turn, is expected to help in generating sales opportunities in the market.
• In many developing countries of Asia Pacific including India, people are inclined toward buying high quality gems. Thus, regional jewelers are particular regarding the procurement of superior quality diamonds.

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Synthetic Diamond Market: Competition Landscape

The synthetic diamond market is witnessing the entry of many new players in recent years. This scenario is resulting in high competition levels, which are encouraging companies to strategize their business moves and maintain a leading market position.

Several players in the synthetic diamond market are focused on expanding their production capabilities. Besides, many enterprises are investing in R&D activities. 

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Synthetic Diamond Market: Key Players

The report profiles key players operating in the global synthetic diamond market. Thus, the research document delivers all key information such as product portfolio, company overview, recent developments, business strategies, and financial overview of all market players.

Some of the key players in the synthetic diamond market are:

• Element Six (E6)
• Applied Diamond Inc.
• Sandvik AB
• New Diamond Technology, LLC
• ILJIN co., ltd.
• HEYARU GROUP
• Henan Huanghe Whirlwind
• Zhengzho

The Global Synthetic Diamond Market has been segmented as presented below:

Synthetic Diamond Market: Product

• Bort
• Dust
• Grit
• Powder
• Stone

Synthetic Diamond Market: Manufacturing Process

• High Pressure High Temperature (HPHT)
• Chemical Vapor Deposition (CVD)

Synthetic Diamond Market: End-user Industry

• Polished
• Rough

Synthetic Diamond Market: Application

• Gem
• Heat Sinks / Exchangers
• High-end Electronics
• Laser & X-ray
• Machining and Cutting Tools
• Surgical Machinery
• Water Treatment
• Quantum Computing
• Optical
• Sensors & Scanning
• Medical
• Electricals

Synthetic Diamond Market: Regional Analysis 

• North America
• U.S.
• Canada
• Europe
• U.K.
• France
• Germany
• Italy
• Spain
• Russia & CIS
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa
• GCC
• Egypt
• South Africa
• Rest of Middle East & Africa
• Latin America
• Brazil
• Mexico
• Rest of Latin America

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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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