Published on : Jan 09, 2018
ALBANY, New York, Jan 09, 2018: From their erstwhile use for industrial applications, synthetic diamonds are now finding applications in telecommunications, abrasives, and laser optics among more. First created in a laboratory environment in 1970, the physical and optical properties of synthetic diamonds which are at par with natural diamonds is leading to their swift uptake. A report by ResearchMoz.us sheds light on the various demand drivers for synthetic diamonds and provides an in-depth analysis of the associated market. The report, titled “Synthetic Diamond Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” discusses changing trends and economic and political factors that are paving way for the adoption of synthetic diamonds in place of natural ones.
The report on global synthetic diamond market analyzes the market at the global and regional level. The report provides a detailed value chain analysis along with a comprehensive overview of the synthetic diamond market. Included in the report is a market attractiveness analysis, with examining end-users based on their growth rate, market size, and general attractiveness.
The study provides a conclusive analysis of the global synthetic diamond market by dividing it on the basis of type, manufacturing process, product, and application industry. The key product segments include bort, grit, stone, dust, and powder. Each segment has been examined based on past and current growth trends and predictions of their growth behavior over the forecast period provided as well. Among the, the stone segment held more than 90% of the market in 2016 and is likely to reign the market over the forecast period.
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The key segments of the market based on type are polished and rough. Chemical vapor deposition (CVD and high pressure high temperature (HPHT) and) are the segments of the market based on manufacturing process. In terms of application, the segments into which the global synthetic diamond market is divided are gem, heat sinks/exchangers, laser & X-ray, surgical machinery, quantum computing, sensors & scanning, electrical, high-end electronics, machining and cutting tools, water treatment, optical, and medical.
The synthetic diamond market is spread across several regional segments. Of them, Asia Pacific is the regional leader for synthetic diamonds. Driven by the development of gems and industrial sectors in India, China, and Japan, Asia Pacific held more than 45% share of the market in 2016 vis-à-vis revenue. Consumers in India are considering using gem-quality synthetic diamond for jewelry, while in China intense studies are underway to utilize synthetic diamonds in cutting-edge technologies. Synthetic diamond in Japan is being used to produce thin but wide chemical vapor deposition diamond plates. These plates can be used as building blocks for future electronic devices. These factors will account for Asia Pacific to display the leading growth rate over the forecast period.
North America and Europe currently trail Asia Pacific in terms of market share in the global synthetic diamond market. The trend is anticipated to continue over the report’s forecast period. The Middle East and Africa synthetic diamond market is expanding as technology is being used to test the quality and attributes of synthetic diamonds by top-notch diamond mining company in Africa such as De Beers. In this region, Egypt, South Africa, and GCC display demand for synthetic diamonds due to their affordability, easy availability, and their preference in artificial jewelry.
Prominent players in the global synthetic diamond market include New Diamond Technology LLC, Element Six, Sandvik AB, Henan Huanghe Whirlwind, Applied Diamond Inc., HERAYU GROUP, ILJIN Co. Ltd., and Zhengzhou Sino-Crystal Co. LTD.
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