China Synthetic Diamond Market - 2025-2032

China Synthetic Diamond Market reached US$ 7.8 billion in 2024 and is expected to reach US$ 23.3 billion by 2032, growing with a CAGR of 14.61% during the forecast period 2025-2032.

China's excellent infrastructure, along with government incentives, has fueled market growth. Zhengzhou, a key diamond-producing hub in Henan Province, serves as an innovative center for superhard material research and development. Furthermore, China has a rising middle class that values affordable luxury items, such as lab created diamond jewelry, which drives market growth. For example, in November 2024, Austrian jewelry manufacturer Swarovski entered the lab-grown diamond business in China after obtaining a strong response. The trend suggests increasing customer acceptance and confidence in lab-grown diamonds in the Chinese market.

Market Dynamic

Driver - Rise in Domestic Demand

China's expanding domestic demand for lab-grown diamonds is driving the synthetic diamond sector forward. This demand is being driven by changing consumer preferences, an expanding middle class and growing awareness of the ethical and environmental benefits of lab-grown diamonds.* Government encouragement for innovation and market expansion contributes to the strong domestic demand. According to the National Diamond Council, China will generate 46% of the world's lab grown diamonds in November 2024, providing an economical alternative to natural diamonds.

Restraint - Strict Environmental Regulations

China has strengthened its environmental policies, including carbon emission limitations and energy efficiency criteria for large enterprises. Because of these changing regulations, synthetic diamond manufacturers who use HPHT technology may face higher compliance expenses and probable production limits.* HPHT diamond synthesis requires vast amounts of energy, which is mostly derived from coal and fossil fuels in China. This not only raises production costs, but also raises worries about sustainability and carbon footprint reduction, particularly given China's objective of becoming carbon neutral by 2060.

Market Segment Analysis

The China synthetic diamond market is segmented based on type, manufacturing process and application.

High-Pressure High-Temperature (HPHT) Diamonds is Expected to Dominate the Segment Driving the Growth.

The High-Pressure, High-Temperature (HPHT) method is one of the principal technologies used to create synthetic diamonds. The growing demand for low-cost, high-performance synthetic diamonds in industrial applications such cutting, drilling, grinding and thermal management is a major driver of the Chinese synthetic diamond market. The country's strong need for industrial diamonds in industries such as construction, electronics and machinery has solidified the HPHT process as the favored option. For example, Henan Province has emerged as a major hub for synthetic diamond production, thanks in large part to the broad adoption of the HPHT process. The region's focus on HPHT technology has made it a prominent player in both domestic and international markets.

Sustainability Analysis

Synthetic diamonds, also known as lab-grown diamonds, are created by advanced technical procedures such as High-Pressure, High-Temperature (HPHT) and Chemical Vapor Deposition (CVD). When compared to natural diamond mining, these approaches considerably reduce environmental degradation, habitat destruction and carbon emissions. Unlike traditional mining, which causes soil erosion and water pollution, synthetic diamond production is more regulated and localized, reducing environmental impact. Companies like Zhongnan Diamond and Sino-Crystal Diamond invest in energy-efficient CVD technology to reduce their carbon footprint and make production more sustainable.

Major Global Players

The major global players in the market include Zhongnan Diamond Co., Ltd., Henan Huanghe Whirlwind Co., Ltd., Zhengzhou Sino-Crystal Diamond Co., Ltd., Ningbo Crysdiam, Zhengzhou Best Synthetic Diamond Co., Ltd., Henan Huifeng Diamond Co., Ltd., SF Diamond, Jingri Diamond Industrial Co., Ltd., CR GEMS Superabrasives Co., Ltd. and Henan Union Precision Material Corp.

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Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies