Synthetic Diamond Market, By Type (Polished, Rough ), By Manufacturing Process (High Pressure, High Temperature, Chemical Vapor Deposition ), By Geography

The global synthetic diamond market size was valued at US$ 22.64 Bn in 2022, and is expected to exhibit compound annual growth rate (CAGR) of 7.0% from 2023 to 2030.

Figure 1. Global Synthetic Diamond Market, By Type, 2022

Synthetic diamonds are created by using a series of processes that mimic the natural diamond's composition. Synthetic diamonds are created using a series of processes that mimic the natural diamond's composition. One of the most commonly used methods for producing synthetic diamonds is the High Pressure High Temperature (HPHT) method.

In the HPHT method, a small diamond seed is placed in a metal capsule along with a carbon source and a catalyst. The capsule is then subjected to extremely high pressure and temperature conditions, typically around 1,500 degrees Celsius and 5-6 GPa, which mimics the natural conditions under which diamonds are formed in the Earth's mantle.

As the temperature and pressure are gradually increased, the carbon atoms in the capsule start to crystallize around the diamond seed, forming a larger diamond crystal. The process can take several hours to several days, depending on the desired size and quality of the diamond.

Once the diamond crystal has been grown, it is then cut and polished using traditional diamond cutting techniques to create a finished synthetic diamond. The resulting synthetic diamond can be used in a wide range of applications, including industrial cutting tools, high-performance electronics, and jewelry.

Market Dynamics:

The global synthetic diamond market is expected to witness growth over the coming years due to growing electronics and semiconductor industries. Synthetic diamonds, also known as lab-grown diamonds, are increasingly being used in these industries due to their unique physical and chemical properties, such as high thermal conductivity and excellent electrical insulation.

In addition to the electronics and semiconductor industries, synthetic diamonds are also used in a wide range of other applications, including cutting and polishing tools, high-performance bearings, and medical implants. The ability to produce high-quality diamonds in a controlled and repeatable manner has made synthetic diamonds an increasingly popular alternative to natural diamonds in a variety of industries.

On the other hand, the complex manufacturing process of synthetic diamond is expected to restrict the market growth.

Key features of the study:

• This report provides in-depth analysis of the global synthetic diamond market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global synthetic diamond market based on the following parameters-company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Adamas One Corp., Applied Diamond Inc., Element Six UK Ltd, Henan Huanghe Whirlwind Co. Ltd, ILJIN Diamond Co. Ltd, New Diamond Technology, Pure Grown, Diamonds (PGD), Sumitomo Electric Industries Ltd, Swarovski, Zhengzhou Sino-Crystal Diamond Co., and Zhongnan Diamond Co. Ltd
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global synthetic diamond market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global synthetic diamond market

Detailed Segmentation:

• By Type
  • Polished
  • Jewelry
  • Electronics
  • Healthcare
  • Other Polished Types
  • Rough
  • Construction
  • Mining
  • Oil and Gas
  • Other Rough Types
• By Manufacturing Process
  • High Pressure, High Temperature (HPHT)
  • Chemical Vapor Deposition (CVD)
• By Region:
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles
  • Adamas One Corp.
  • Applied Diamond Inc.
  • Element Six UK Ltd
  • Henan Huanghe Whirlwind Co. Ltd
  • ILJIN Diamond Co. Ltd
  • New Diamond Technology
  • Pure Grown
  • Diamonds (PGD)
  • Sumitomo Electric Industries Ltd
  • Swarovski
  • Zhengzhou Sino-Crystal Diamond Co.
  • Zhongnan Diamond Co. Ltd