The global market for a synthetic diamond is projected to have a CAGR of around 6.4% during the forecast period. Synthetic diamonds (laboratory-grown diamonds) are otherwise called cultured or cultivated diamonds. A synthetic diamond is produced by an artificial process, and offers significant environmental advantages over mined diamonds, and requires a fraction of the resources of mining operations. These are the substitutes for natural diamonds. Synthetic Diamonds comprise various colors grown by the manufacturing method known as high-pressure high temperature (HPHT), and chemical vapor deposition (CVD). They have similar composition, crystal structure, and other properties as natural diamonds. The global synthetic diamond market is growing at a rapid speed due to various factors such as the increasing demand for the diamond as its application has increased in the field of healthcare, construction & mining, electronics, and jewellery. It is a substitute for a natural diamond with a lower price that contributes to the growth of the market. The availability of synthetic diamonds at an affordable price rising disposable income and technological advancement are the other drivers of the market
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However, the factors such as lack of awareness and recession in emerging economies further projected to hinder the market growth. The dearth of marketing and branding of synthetic diamonds is another restraining factor that hampers the market growth. The growth of industrialization in the emerging economies, increasing investment in manufacturing, and product development are the major factors that create future opportunities for the market.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Synthetic Diamond Market Report Segment
By Type
- Polished
- Rough
By Manufacturing Process
- High-Pressure High-Temperature (HPHT)
- Chemical Vapour Deposition (CVD)
By Application
- Construction & Mining
- Electronics
- Jewellery
- Healthcare
- Others (Oil and Gas)
Global Synthetic Diamond Market Report Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global synthetic diamond market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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