Total Revenue Forecast to Reach $21.4 Billion, Driven by the Rising Demand from the Electronics and Semiconductor Industries #IndustryFinance

Synthetic Diamonds Market

Dublin, Oct. 11, 2024 (GLOBE NEWSWIRE) — The “Synthetic Diamonds – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.

The global market for Synthetic Diamonds was estimated at US$15.3 Billion in 2023 and is projected to reach US$21.4 Billion by 2030, growing at a CAGR of 4.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth in the synthetic diamond market is driven by several factors, including increasing demand from the electronics and semiconductor industries, technological advancements in production methods, and the rising preference for ethical, lab-grown diamonds in the jewelry sector.

Additionally, the expanding use of synthetic diamonds in medical devices and research contributes to market growth. Regulatory support for conflict-free materials and the cost advantages over natural diamonds are also key drivers. Furthermore, advancements in nanodiamonds and the development of new applications in aerospace and defense provide opportunities for sustained growth.

Which Segments are Propelling the Growth of the Synthetic Diamond Market?

• The two primary types of synthetic diamonds – HPHT and CVD – are used in various industrial and consumer applications.

• Industrial applications such as cutting, grinding, and drilling tools dominate the market share, particularly in heavy industries like mining and construction.

• On the consumer side, synthetic diamonds are gaining traction in the luxury jewelry market, particularly as consumers prioritize ethical sourcing.

• End-use industries include electronics, healthcare, aerospace, and automotive, with each leveraging synthetic diamonds for their durability, heat resistance, and other unique properties.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Rough Diamonds segment, which is expected to reach US$14.5 Billion by 2030 with a CAGR of a 4.8%. The Polished Diamonds segment is also set to grow at 5.1% CAGR over the analysis period.

• Regional Analysis: Gain insights into the U.S. market, which was valued at $4.1 Billion in 2023, and China, forecasted to grow at an impressive 8.5% CAGR to reach $4.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.

• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.

• Company Profiles: Coverage of major players such as BEACON STRATEGIC COMMUNICATIONS, D.NEA, Element Six (UK) Ltd., and more.

• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

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Select Competitors (Total 46 Featured):

• BEACON STRATEGIC COMMUNICATIONS

• D.NEA

• Element Six (UK) Ltd.

• Ferdiam S.r.l.

• Hebei Plasma Diamond Technology Co. Ltd.

• ILJIN Diamond Co. Ltd.

• ILJIN DIAMOND CO. LTD.

• MadeStones

• Nano Coatings, SL

• Novatek Engineering, Inc.

Key Attributes

MARKET OVERVIEW

• Influencer Market Insights

• World Market Trajectories

• Global Economic Update

• Synthetic Diamonds – Global Key Competitors Percentage Market Share in 2024 (E)

• Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

• Rising Demand for Synthetic Diamonds in the Electronics Industry Spurs Market Growth

• Advancements in High-Pressure, High-Temperature (HPHT) Technology Drives Adoption

• Increasing Applications of Synthetic Diamonds in Precision Cutting Tools Expands Addressable Market

• Technological Innovations in Chemical Vapor Deposition (CVD) Strengthen Business Case for Synthetic Diamonds

• Rising Use of Synthetic Diamonds in Healthcare and Medical Devices Spurs Demand

• Growth in Semiconductor Industry Accelerates Demand for Synthetic Diamonds

• Increased Adoption of Synthetic Diamonds in Optical Applications Expands Market Opportunity

• Expansion of Wear-Resistant Coatings Drives Adoption of Synthetic Diamonds in Industrial Applications

• Sustainability Concerns in the Jewelry Industry Propel Demand for Lab-Grown Diamonds

• Growing Applications in Aerospace and Defense Fuel Market Growth

• Advancements in Nanodiamond Technology Drive Adoption in High-Tech Industries

• Rising Consumer Awareness of Conflict-Free Diamonds Spurs Demand for Synthetic Alternatives

For more information about this report visit https://www.researchandmarkets.com/r/i9qwds

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