Synthetic Diamond Market Report by Type (Polished, Rough), Manufacturing Process (High Pressure High Temperature, Chemical Vapor Deposition), Application (Gem, Heat Sinks and Exchangers, High-End Electronics, Laser and X-Ray, Machining and Cutting Tools, Surgical Machinery, Water Treatment, Medical, Optical, and Others), and Region 2024-2032

Synthetic Diamond Market Report by Type (Polished, Rough), Manufacturing Process (High Pressure High Temperature, Chemical Vapor Deposition), Application (Gem, Heat Sinks and Exchangers, High-End Electronics, Laser and X-Ray, Machining and Cutting Tools, Surgical Machinery, Water Treatment, Medical, Optical, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6262
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Market Overview:

The global synthetic diamond market size reached US$ 16.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 28.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.5% during 2024-2032.

Report Attribute
 Key Statistics 
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 16.0 Billion
Market Forecast in 2032
US$ 28.8 Billion
Market Growth Rate 2024-2032 6.5%


Synthetic diamonds are man-made or laboratory-grown diamonds generally manufactured by subjecting graphite under high-pressure, high-temperature (HPHT) and chemical vapor deposition (CVD) methods. They are widely used as hard coatings for industrial equipment, such as wire-drawing dies, quarrying saws, grinding wheels, machine tools, and mining drills. Unlike natural diamonds, synthetic diamonds are produced under precisely regulated circumstances, have fewer flaws, and exhibit limited indications of strain in their crystal structure. Apart from this, they exhibit hardness, electron mobility, and thermal conductivity, due to which they find extensive applications across the construction, electronics, mining, and oil and gas industries.

Global Synthetic Diamond Market

Synthetic Diamond Market Trends:

Significant growth in the electronics industry across the globe is creating a positive outlook for the market. Synthetic diamonds are widely used in high-power switches at power plants, high-frequency field-effect transistors, and light-emitting diodes (LEDs). In line with this, the widespread product adoption in telecommunications, due to its high refractive index with minimized information loss during high-level-security signal transmission, is favoring the market growth. Apart from this, synthetic diamonds are sustainable and free of unethical mining, which, in turn, is providing an impetus to the market growth. Furthermore, the extensive product utilization in various industrial applications, such as manufacturing machines and computer chips, mining, medical procedures, space science, and stone cutting, is acting as another growth-inducing factor. Besides this, the growing popularity of synthetic diamonds as an alternative to natural diamonds owing to their eco-friendliness, rising disposable incomes of consumers, and widespread product incorporation in UV (ultraviolet) light or high-energy particle detectors are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global synthetic diamond market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, manufacturing process and application.

Breakup by Type:

  • Polished
  • Rough
     

Breakup by Manufacturing Process:

  • High Pressure High Temperature
  • Chemical Vapor Deposition
     

Breakup by Application:

  • Gem
  • Heat Sinks and Exchangers
  • High-End Electronics
  • Laser and X-Ray
  • Machining and Cutting Tools
  • Surgical Machinery
  • Water Treatment
  • Medical
  • Optical
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Applied Diamond Inc., D.NEA, Element Six (UK) Ltd., Finegrown Diamonds, Henan Huanghe Whirlwind Co. Ltd, Henan Liliang Diamond Co. Ltd., Heyaru Engineering Pvt. Ltd., Hyperion Materials & Technologies Inc., Iljin Diamond Co. Ltd., Industrial Abrasives Ltd, New Diamond Technology, Soham Industrial Diamonds, Swarovski AG and Zhengzhou Sino-Crystal Diamond Co. Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Manufacturing Process, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Applied Diamond Inc., D.NEA, Element Six (UK) Ltd., Finegrown Diamonds, Henan Huanghe Whirlwind Co. Ltd, Henan Liliang Diamond Co. Ltd., Heyaru Engineering Pvt. Ltd., Hyperion Materials & Technologies Inc., Iljin Diamond Co. Ltd., Industrial Abrasives Ltd, New Diamond Technology, Soham Industrial Diamonds, Swarovski AG and Zhengzhou Sino-Crystal Diamond Co. Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global synthetic diamond market was valued at US$ 16.0 Billion in 2023.

We expect the global synthetic diamond market to exhibit a CAGR of 6.5% during 2024-2032.

The growing utilization of synthetic diamonds as hard coatings for industrial equipment, including quarrying saws, grinding wheels, machine tools, mining drills, etc., is primarily driving the global synthetic diamond market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for synthetic diamonds.

Based on the manufacturing process, the global synthetic diamond market has been segmented into high pressure high temperature and chemical vapor deposition. Currently, chemical vapor deposition holds the majority of the total market share.

Based on the application, the global synthetic diamond market can be divided into gem, heat sinks and exchangers, high-end electronics, laser and x-ray, machining and cutting tools, surgical machinery, water treatment, medical, optical, and others. Among these, high-end electronics exhibit a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global synthetic diamond market include Applied Diamond Inc., D.NEA, Element Six (UK) Ltd., Finegrown Diamonds, Henan Huanghe Whirlwind Co. Ltd, Henan Liliang Diamond Co. Ltd., Heyaru Engineering Pvt. Ltd., Hyperion Materials & Technologies Inc., Iljin Diamond Co. Ltd., Industrial Abrasives Ltd, New Diamond Technology, Soham Industrial Diamonds, Swarovski AG, and Zhengzhou Sino-Crystal Diamond Co. Ltd.

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Synthetic Diamond Market Report by Type (Polished, Rough), Manufacturing Process (High Pressure High Temperature, Chemical Vapor Deposition), Application (Gem, Heat Sinks and Exchangers, High-End Electronics, Laser and X-Ray, Machining and Cutting Tools, Surgical Machinery, Water Treatment, Medical, Optical, and Others), and Region 2024-2032
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