Global Synthetic Diamond Market Research and Forecast 2018-2023

Posted by Orion Market Research on September 25th, 2018

Synthetic Diamond Market, Size, Share, Market Intelligence, Company Profiles, Market Trends, Strategy, Analysis, Forecast 2018-2023

The Synthetic Diamond market is expected to grow significantly during the forecast period (2018-2023). A Synthetic Diamond is produced by an artificial process. These are the substitutes of natural diamonds.  Synthetic Diamonds comprise of various colors grown by the manufacturing method known as High Pressure High Temperature. The global Synthetic Diamond market is developing with a rapid speed due to various factors such as growing demand of the diamond as its application has increased in the field of healthcare, construction & mining, electronics, and jewellery. Synthetic Diamond is a substitute of a natural diamond with lower price that contribute in the growth of the market. Rising disposable income and technological advancement are the major drivers of the market. Growth of industrialization in the emerging economies, increasing investment in the manufacturing and product development are the major factors that creates future opportunities for the market. Although, factors such as lack of awareness and recession in developed countries hinder the market growth.

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Global synthetic diamond market is segmented on the basis of type, manufacturing process and application. As per type, the market is further subdivided as polish and rough. On the basis of manufacturing process, the market is diversified as high-pressure high temperature and chemical vapor deposition. Based on the applications, the market is bifurcated as construction and mining, electronics, jewellery, healthcare and others such as oil and gas. Among the applications, the market for electronics is expected to have major share due to increasing demand for consumer electronics such as smartphone, refrigerators, washing machine and HVAC.

Considering geographical region, the global Synthetic Diamond market is divided into North America, Europe, Asia Pacific, and Rest of the world. Taking into account the Asia Pacific region, it is considered as the fastest growing market with growing industrialization, manufacturing investment, and increasing awareness among people regarding fashion. North America and Europe region covers significant market share due to better infrastructural facilities, development of new technology and manufacturing sector, and a strong research and development activities.

The major companies contributing to the global synthetic diamond market with their capability of proving new innovative products and product development are Element Six, Applied Diamond Inc., Sandvik AB, Henan Huanghe Whirlwind Co., Ltd., Crystallume, Scio Diamond Technology, D.NEA, Industrial Abrasives Ltd., Novatek Inc, Heart in Diamond, Worldwide Diamond Manufacturer Pvt. Ltd., Washington Diamonds, and Forevermark.

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