The report is titled ‘Synthetic Diamond Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023’ and is prepared by using primary and secondary data gathered from leading industry experts and reliable databases.According to the research study, the global synthetic diamond market was worth US$15.7 bn in 2014. Driven by the lower cost of synthetic diamonds in comparison with natural diamonds and the rise in the number of industrial applications of synthetic diamonds, the market is expected to witness a rise of close to 100% in the next eight years, ending up at US$28.8 bn by 2023.
Browse the full Synthetic Diamond (Bort, Dust, Grit, Powder, and Stone) Market by Manufacturing Process (High Pressure High Temperature, Chemical Vapor Deposition, and Others) and Type (Polished, Rough) for Construction & Mining, Electronics, Jewelry, Healthcare and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 report at https://www.transparencymarketresearch.com/synthetic-diamond-market.html
Leading market analysis company Transparency Market Research has announced the release of a new market research report. The report, available on the company website, delves into the global synthetic diamond market’s performance over the past few years, its current stats, and projections for the market over the coming few years. The report presents analysis of all key segments of the global synthetic diamond market by geography, end use, material type, product type, and manufacturing process. Data regarding the performance of each segment of the global synthetic diamond market is given in the report, rendering a comprehensive bird’s-eye view of the market for market participants.
Diamonds are the hardest known bulk material, which leads to their wide-scale usage in processes such as drilling, cutting, grinding, and polishing. The construction and mining and electronics industries lead the demand from the global synthetic diamond market. In construction and mining, synthetic diamonds are mainly applied to strengthen bits and enhance their drilling power. Since natural diamonds are highly valued in jewelry, their price is much higher than synthetic diamonds, which is why the latter are in demand for their technical applications. Other major end-use applications of synthetic diamonds are healthcare and jewelry.
The high pressure high temperature (HPHT) process is the dominant manufacturing process of synthetic diamonds. It is more complex than chemical vapor deposition (CVD), but the complexity of the process is offset by the cheaper cost of HPHT manufacture of synthetic diamonds. A manufacturing process that combines the low cost of HPHT and the relative simplicity of CVD remains a major R&D avenue for players in the global synthetic diamond market.
Another key driver propelling the global synthetic diamond market is the increasing number of restrictions on the mining of natural diamonds. The mining process of natural diamonds is harmful to the environment, which has led to several regulations in developed countries restricting the output of natural diamond mining.
Among the key regional segments of the global synthetic diamond market, Asia Pacific is by far the dominant one, with a 50% share in the market in 2014. The Middle East and Africa and Latin America are expected to rise rapidly in the forecast period, with the Europe synthetic diamond market suffering from the aftereffects of recent financial crises.
The report also compiles information on the competitive landscape of the global synthetic diamond market, including profiles of major players such as Applied Diamond Inc., Tomei Diamond Co. Ltd., Element Six, Scio Diamond Technology Corporation, Washington Diamonds Corporation, Crystallume, New Diamond Technology, and Sandvik AB.
The global synthetic diamond market is segmented as follows:
Synthetic Diamond Market: Manufacturing Process Analysis
- High Pressure High Temperature (HPHT)
- Chemical Vapor Deposition (CVD)
Synthetic Diamond Market: Type Analysis
Synthetic Diamond Market: Product Segment Analysis
Synthetic Diamond Market: End User Analysis
- Construction and Mining
Synthetic Diamond Market: Regional Analysis
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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