Global Synthetic Diamond Market: Application across Diverse Industries to Fuel Demand, says MRRSE

This report analyzes and forecasts the market for synthetic diamond at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (Million Carats) from 2017 to 2025. The study includes drivers and restraints of the Global Synthetic Diamond Market. It also covers the impact of these drivers and restraints on demand for synthetic diamond during the forecast period. The report also highlights opportunities in the synthetic diamond market at the global and regional level.

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The report comprises a detailed value chain analysis, which provides a comprehensive view of the global synthetic diamond market. Porter’s five forces model for the synthetic diamond market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.

Global Synthetic Diamond Market: Scope of the Study

The study provides a decisive view of the global synthetic diamond market by segmenting it in terms of type, product, manufacturing process, and application industry. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for synthetic diamond in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual end-user segments in all the regions.

The report provides the estimated market size of synthetic diamond for 2016 and forecast for the next nine years. The global market size of synthetic diamond has been provided in terms of revenue. Market numbers have been estimated based on key type, product, manufacturing process, and application segments of synthetic diamond market. Market size and forecast for each major types, product, manufacturing process, and application have been provided in terms of global and regional markets.

Global Synthetic Diamond Market: Research Methodology

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

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Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports. Other secondary research sources are U.S. Geological Survey (USGS), Gemological Institute of America (GIA), International Diamond Council (IDC), World Diamond Council (WDC), International Diamond Manufacturers Association (IDMA), International Gemological Institute (IGI), and Industrial Diamond Association of America (IDA).

Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

Companies Mentioned in the Report

The study includes profiles of major companies operating in the global synthetic diamond market. Key players in the synthetic diamond market include Element Six (E6), Applied Diamond Inc., New Diamond Technology, LLC, HEYARU GROUP, Sandvik AB, ILJIN co., ltd., Henan Huanghe Whirlwind, and Zhengzhou Sino-Crystal Diamond Co.LTD. Market players have been profiled in terms of attributes such as company overview, overall revenue, business strategies, and recent developments. The report also highlights SWOT analysis of the synthetic diamond market at the global and regional level.

Synthetic diamonds are lab-grown or laboratory produced diamond, its physical and chemical properties resemble to those of natural diamonds. Synthetic diamonds (lab-grown diamonds) are also known as cultivated or cultured diamonds. These are manufactured in the laboratory by using CVD (chemical vapor deposition) or HPHT (high pressure high temperature) processes. Synthetic diamonds exhibit properties similar to natural diamonds; hence, they are widely utilized in end-user industries that use diamonds. Increase in demand for synthetic diamond in industrial application will boost the synthetic diamond market. Synthetic diamonds are widely utilized in computer chip production, construction, machinery production, mining services (such as drilling for minerals), gem exploration, stone cutting and polishing, surgery, astronomy, experimental physics, and electronics. Synthetic diamonds are also known for their usage in oil & gas drills, as no other material is capable of handling extreme conditions. Synthetic diamond-based products are also being employed in industrial and household water treatment. Polycrystalline CVDs are an essential component in high-performance loudspeakers. Synthetic diamond detectors of ultraviolet light particles are used at high-energy research facilities and are available commercially.

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Stone Segment Seals Dominance with Majority Share among Product Segments

The synthetic diamond market has been segmented on the basis of product, manufacturing process, type, application, and region. Based on product, the market is split into bort, dust, grit, powder, and stone. In terms of value, the stone segment accounted for more than 90% share of the global synthetic diamond market in 2016 and is anticipated to grow continue during the forecast period. Demand of stone is high due to high degree of application. This type of diamond can be incorporated in single or multiple point diamond tools, diamond saws, diamond wheels, and diamond wire dies. Based on manufacturing process, the market is divided high pressure high temperature (HPHT) and chemical vapor deposition (CVD). Based on type, market is divided into polished and rough. Based on application, the market is split into gem, heat sinks / exchangers, high-end electronics, laser & X-ray, machining and cutting tools, surgical machinery, water treatment, quantum computing, optical, sensors & scanning, medical, and electrical. Machining and cutting tools segmentation held key market share in 2016.

Rising Demand from China and Japan Helped Asia Pacific Attain Lead in 2016

Asia Pacific held the major share of the global synthetic diamond market in 2016. Growth of the region is primarily ascribed to the development of gem and industrial industry, especially in India, China, and Japan. In terms of value, Asia Pacific was estimated to hold for more than 45% share of the global synthetic diamond market in 2016. Consumers in India primarily focus on gem-quality diamonds for jewelry, while the consumers in China are intensifying studies aimed at utilizing synthetic diamonds in cutting-edge technologies. In Japan, diamond wafer team produces thin but rather wide CVD diamond plates. These plates can become the basis for future electronic devices. Thus, Asia Pacific is projected to be the fastest growing market during the forecast period.

Asia Pacific accounts for major share of the global synthetic diamond market, followed by North America and Europe. This trend is anticipated to continue during the forecast period. The synthetic diamond market in Middle East & Africa is also anticipated to expand during the forecast period due to the expansion of the synthetic diamond industry in MEA, and implementation of technology to test synthetic diamonds by the top diamond producing mines in Africa, such as De Beers. GCC, Egypt, and South Africa are focusing on polished products due to the easy availability, affordability and their preference in artificial jewelry. The interest towards look like diamond is likely to contribute the growth of synthetic diamonds the region in the forecast period.

Key players in the synthetic diamond market include Element Six (E6), Applied Diamond Inc., New Diamond Technology, LLC, HEYARU GROUP, Sandvik AB, ILJIN co., ltd., Henan Huanghe Whirlwind, and Zhengzhou Sino-Crystal Diamond Co.Ltd.

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