Published on : Dec 22, 2017
Albany, New York, December 22, 2017: Synthetic diamonds display properties similar to natural diamonds; hence, they are widely utilized in end-user industries that use diamonds. In recent years, increase in demand for synthetic diamond in industrial application will boost the synthetic diamond market for the future as well. Market Research Hub (MRH) has freshly announced the addition of a new report to its broad repository, which is titled as “Synthetic Diamond Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025” which analyses the global market and present forecast based on revenue (US$ Mn) and volume (Million Carats) from 2017 to 2025. As per the key highlights, the global synthetic diamond market was pegged at US$16,041.0 mn in 2016. By the end of 2025, the market is expected to value US$29,150.4 mn, presenting a CAGR of 7.0% between 2017 and 2025.
Synthetic diamonds are widely used in several electronic devices such as high-power optical electronic devices, high-voltage power electronics, light-emitting diodes, laser diodes, and high-frequency high-power devices. Synthetic diamonds have versatile properties, which have played the key influencer in enabling the market buoy a healthy growth over the years. Synthetic diamonds boast a unique combination of optical, mechanical, thermal, electronic, acoustic, and electrochemical properties, which have enabled them showcases impressive economic performances and industrial applications. The study also analyzes that they are majorly preferred due to their low friction properties and exceptional hardness, which make them ideal for applications such as cutting tools, precision dressing, and high-precision cutting. This has led to their increasing use in electrical and electronics industry.
This 460-pages study includes drivers and restraints of the global synthetic diamond market. It also covers the impression of these drivers and restraints on demand for synthetic diamond during the forecast. In addition, the report also highlights opportunities in the market. Geographically, the study includes the current and forecast demand for synthetic diamond in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Moreover, this new research report has also provided the market attractiveness index which gives detail information about competition in the market in all the regions covered in this report. With the help of market share of various key companies, the scenario of competition between key vendors has also been provided in the section of the report called competitive landscape. These elements would support the key players to take important decisions in an attempt to grow their positions in the market and extend their shares in the worldwide market for synthetic diamonds.
This market is basically segmented into product type, manufacturing process, application, type and region. Based on product, the market is split into bort, dust, grit, powder, and stone. Out of these, demand for stone is high due to high degree of application. Based on manufacturing process, the market is divided high-pressure high temperature (HPHT) and chemical vapor deposition (CVD). Based on type, market is divided into polished and rough. Based on application, the market is split into gem, heat sinks/exchangers, high-end electronics, laser & X-ray, machining and cutting tools, surgical machinery, water treatment, quantum computing, optical, sensors & scanning, medical, and electrical. Machining and cutting tools segmentation held significant market share in 2016. In terms of geography, Asia Pacific accounts for major share of the global synthetic diamond market, followed by North America and Europe. This trend is projected to endure during the forecast period.
Key players in the synthetic diamond market include Henan Huanghe Whirlwind, HEYARU GROUP, Element Six (E6), Sandvik AB, ILJIN co., ltd., Applied Diamond Inc., New Diamond Technology, LLC, and Zhengzhou Sino-Crystal Diamond Co. LTD. Product offerings, SWOT analysis, strategic overview, key recent developments, and company’s basic business overview are some of the key points which are provided in this report while examining the performance of every company.
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