Global Synthetic Diamond Market was valued US$ 18.22 Bn and is projected to reach US$ XX Bn by 2026 at a CAGR of XX %.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Increasing demand for abrasives in major end-use industries is expected to drive the overall market demand. Synthetic industrial diamonds are mainly used as cutting, grinding, polishing, and lapping tool. Rising demand in end-user industries, technical advancements and innovation and rising economies across the globe. Customized diamonds finds its application in biotechnology, quantum computing, high-sensitivity sensors, and laser optics. Volatile prices and regional politics may have a negative impact on the overall market pricing.
Diamonds are employed in manufacturing electronic goods such as flat screens, medical equipment, and production of abrasive. Demand for synthetic stones in jewellery has exhibited a great upsurge. Increasing awareness and trends regarding fashion, particularly in terms of adorned accessories, has resulted in driving the growth of the segment. Availability of relatively low-cost jewellery with stones has shifted the consumer purchasing choice from natural to synthetically manufactured.
Stone segment grabs more than a 90% share of the global synthetic diamond market in 2018 due high degree of application. Stone diamond can be incorporated in single or multiple point diamond tools, diamond saws, diamond wheels, and diamond wire dies.
The Asia Pacific dominated the global synthetic diamond market, followed by North America and Europe. Rapid industrialization is the major factor for an increase in consumption of synthetic diamond in the gem, heat sinks/exchangers, machining and cutting tools, surgical machinery, water treatment, quantum computing, high-end electronics, laser & x-ray, optical, sensors & scanning, medical, and electrical applications. China is the key manufacturer and consumer of synthetic diamond in the Asia Pacific.
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Element Six (E6), Applied Diamond Inc., New Diamond Technology, LLC, HEYARU GROUP, Sandvik AB, ILJIN co., ltd., Henan Huanghe Whirlwind, and Zhengzhou Sino-Crystal Diamond Co.LTD., Advanced Diamond Solutions Inc., Industrial Abrasives Limited, Novatek, Morgan Technical Ceramics Diamonex, Sumitomo Electric Scio Diamond Technology Corporation, Worldwide Diamond Manufacturers Pvt. Ltd., and Hebei Plasma Diamond are leading players operating in the global synthetic diamond market.
Scope of the Global Synthetic Diamond Market
Global Synthetic Diamond Market, by Product:
Global Synthetic Diamond Market, by Application:
• Heat Sinks/Exchangers
• High-end Electronics
• Laser & X-ray
• Machine and Cutting Tools
• Surgical Machinery
• Water Treatment
• Quantum Computing
• Sensors & Scanning
Global Synthetic Diamond Market by Region
• North America
• Middle East & Africa
• South America
Key Players analysed in Global Synthetic Diamond Market:
• Element Six (E6)
• Applied Diamond Inc.
• New Diamond Technology
• HEYARU GROUP
• Sandvik AB
• Henan Huanghe Whirlwind
• Zhengzhou Sino-Crystal Diamond
• Advanced Diamond Solutions Inc.
• Industrial Abrasives Limited
• Morgan Technical Ceramics Diamonex
• Sumitomo Electric Scio Diamond Technology Corporation
• Worldwide Diamond Manufacturers Pvt. Ltd.
• Hebei Plasma Diamond.
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Name: Vikas Godage
Organization: Maximize Market Research
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