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Synthetic Diamond Market Trends

Report ID: GMI11293
Published Date: Sep 2024
Report Format: PDF

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Synthetic Diamond Market Trends

The synthetic diamond industry is witnessing several key trends, including the increasing adoption of advanced manufacturing technologies like HPHT and CVD, which enhance diamond quality and reduce production costs. There is a growing preference for ethically sourced and sustainable diamonds, driving demand in the jewelry sector. The expansion of synthetic diamond applications into electronics, aerospace, and medical fields highlights their versatility and innovation. Additionally, advancements in customization and high-performance characteristics are further fueling market growth. As these trends continue, synthetic diamonds are becoming integral to various industries and applications.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

Market size for synthetic diamond was USD 23.9 billion in 2023 and will grow at a 6.1% CAGR between 2024 and 2032, driven by the growing demand for industrial applications, such as cutting, grinding, and drilling.

Synthetic diamond industry from the industrial segment accumulated 39% share in 2023, primarily due to the extensive use of synthetic diamonds in various industrial applications.

Asia Pacific industry achieved USD 8.3 billion in 2023, owing to its rapid industrialization and growing demand for advanced materials in manufacturing and electronics.

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), Rahi impex, Swarovski, and Sumitomo Electric Industries, Ltd.