Synthetic Diamond Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Synthetic Diamonds Companies & Manufacturers and the Market is Segmented by Type (Polished and Rough), Manufacturing Process (High-Pressure, High-Temperature (HPHT), and Chemical Vapor Deposition (CVD)), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Report Offers the Market Sizes and Forecasts for Synthetic Diamond in Revenue (USD Million) for all the Above Segments.

Synthetic Diamond Market Size

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Synthetic Diamond Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) > 7.50 %
Fastest Growing Market Asia-Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Synthetic Diamond Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Synthetic Diamond Market Analysis

The Synthetic Diamond Market is expected to register a CAGR of greater than 7.5% during the forecast period.

The synthetic diamond market is expected to reach USD 20,277.90 million by the end of this year.

The COVID-19 pandemic affected the synthetic diamond market because of supply chain and market disruption. Various end-user activities were temporarily stopped during the government-imposed lockdowns. However, the market rebounded back in 2021.

  • Over the short term, increasing demand from electronics and semiconductors applications and growing demand for super abrasives are some driving factors stimulating the market demand.
  • The complex manufacturing process of synthetic diamonds is hindering the market's growth.
  • Applications in additive manufacturing and orthopedic medical devices and the introduction of thin and wide CVD diamond plates are likely to create opportunities for the market in the future.
  • The Asian-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Synthetic Diamond Market Trends

Construction Segment to Dominate the Rough Type

  • Synthetic diamonds are widely used in the stone and construction industry. They are used in cutting blade solutions for all abrasive surfaces. Other applications of synthetic diamonds in the construction industry include sawing, cutting, grinding, diaphragm wall cutting, tunneling, etc.
  • The extreme hardness of synthetic diamond makes it particularly apt for cutting dimension stones, such as granite and marble. Synthetic diamonds can also be used for boring applications, which help rapidly drill holes.
  • The construction industry in Asia-Pacific is expected to become the largest and fastest-growing industry in the world, with approximately 45% share of global construction spending ion.
  • For instance, the Chinese government rolled out massive construction plans, including making provisions for the movement of 250 million people to new megacities over the next ten years, creating a major scope for construction materials in the future to enhance the building properties.
  • The Japanese construction industry is expected to bloom due to events that will be hosted in the country. Osaka will host the World Expo in 2025. Construction is mostly driven by redevelopment and recovery from natural disasters. Two high-rise towers for Tokyo Stations, a 37-story, 230m tall office tower, were expected to be completed in 2021, and a 61-story, 390m tall office tower is due for completion in 2027.
  • Apart from Asia-Pacific, the United States has one of the world's largest construction industries. According to the United States Census Bureau, the annual value for new construction put in place in the United States accounted for USD 1,626,444 million in 2021, compared to USD 1,499,570 million in 2020.
  • Owing to all these factors, the market for synthetic diamonds is likely to grow globally during the forecast period.
Synthetic Diamond Market : Annual Value of Construction Put in Place, in USD million, United States, 2017-2021

Asia-Pacific Region to Dominate the Market

  • The Asian-Pacific region dominated the global market share. Owing to the high manufacturing activities by numerous end-user industries in the country, synthetic diamonds have a huge market in China.
  • According to China's five-year plan unveiled in January 2022, the construction industry in the country is estimated to register a growth rate of approximately 6% in 2022. China plans to increase the construction of prefabricated buildings to reduce pollution and waste from construction sites.
  • The country serves the domestic demand for electronics and exports electronic output to other countries. With an increase in disposable incomes of the middle-class population, the demand for electronic products is projected to increase. This factor is expected to drive the market studied. China is a net importer of semiconductor chips, manufacturing less than 20% of the semiconductors used. As part of the country's ambitious 'Made in China 2025' plan, the Chinese government has announced its decision to reach an output of USD 305 billion by 2030 and meet 80% of its domestic demand.
  • The rising electronics sector is driving the demand for synthetic diamonds for heat sinks. India is also expected to become the fifth-largest consumer electronics and appliances industry globally by 2025.
  • Moreover, the domestic production by the Japanese electronics industry was estimated to witness a growth rate of 11% Y-o-Y in 2021 to reach JPY 10,932.2 billion (~USD 99.76 billion). Domestic industry production is estimated to reach JPY 11,161.4 billion (~USD 90.22 billion) in 2022, with a growth rate of 2% Y-o-Y, which may enhance the demand for synthetic diamonds from the country's electronics sector.
  • Due to all such factors, the market for synthetic diamonds in the Asian-Pacific region is expected to have steady growth during the forecast period.
Synthetic Diamond Market - Growth Rate by Region, 2022-2027

Synthetic Diamond Industry Overview

The synthetic diamond market is fragmented in nature. Some of the major players in the market include Zhongnan Diamond Co. Ltd, Henan Huanghe Whirlwind Co. Ltd, Zhengzhou Sino-Crystal Diamond Co. Ltd, Element Six UK Ltd, and Sumitomo Electric Industries, Ltd, amongst others (not in any particular order).

Synthetic Diamond Market Leaders

  1. Element Six UK Ltd.

  2. Sumitomo Electric Industries, Ltd.

  3. Henan Huanghe Whirlwind Co. Ltd

  4. Zhongnan Diamond Co. Ltd

  5. Zhengzhou Sino-Crystal Diamond Co. Ltd

*Disclaimer: Major Players sorted in no particular order

Synthetic Diamond Market Concentration
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Synthetic Diamond Market News

  • In February 2022, Element Six UK Ltd collaborated with II-VI Inc. Through this collaboration, II-VI licenses Element Six's intellectual property and necessary equipment would produce high-quality single-crystal diamonds to expand its core competency in diamond technology.
  • In July 2021, Element Six UK LTD and the University of Warwick entered a partnership to develop the next generation of synthetic diamond-enabled technologies. Under this partnership, Element Six applied its renowned expertise and capabilities in advanced material solutions.

Synthetic Diamond Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from Electronics and Semiconductors Applications

      2. 4.1.2 Growing Demand for Super Abrasives

    2. 4.2 Restraints

      1. 4.2.1 Complex Manufacturing Process

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Type

      1. 5.1.1 Polished

        1. Jewelry

        2. Electronics

        3. Healthcare

        4. Other Polished Types

      2. 5.1.2 Rough

        1. Construction

        2. Mining

        3. Oil and Gas

        4. Other Rough Types

    2. 5.2 Manufacturing Process

      1. 5.2.1 High Pressure, High Temperature (HPHT)

      2. 5.2.2 Chemical Vapor Deposition (CVD)

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. ASEAN Countries

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Rest of North America

      3. 5.3.3 Europe

        1. Germany

        2. France

        3. United Kingdom

        4. Italy

        5. Spain

        6. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. GCC Countries

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Adamas One Corp.

      2. 6.4.2 Applied Diamond Inc

      3. 6.4.3 Element Six UK Ltd

      4. 6.4.4 Henan Huanghe Whirlwind Co., Ltd.

      5. 6.4.5 ILJIN DIAMOND CO., LTD.

      6. 6.4.6 New Diamond Technology

      7. 6.4.7 Pure Grown Diamonds (PGD)

      8. 6.4.8 Sumitomo Electric Industries, Ltd.

      9. 6.4.9 Swarovski

      10. 6.4.10 Zhengzhou Sino-Crystal Diamond Co., Ltd.

      11. 6.4.11 Zhongnan Diamond Co., Ltd.

    5. *List Not Exhaustive

    1. 7.1 Applications in Additive Manufacturing

    2. 7.2 Applications in Orthopedic Medical Devices

    3. 7.3 Introduction of Thin and Wide CVD Diamond Plates

**Subject to Availability
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Synthetic Diamond Industry Segmentation

Synthetic diamonds, also known as artificial diamonds, are mainly fabricated through two processes, including the high-pressure, high-temperature (HPHT) process and the chemical vapor deposition (CVD) method. It finds its major application in end-user industries like construction, electronics, mining, oil and gas, and other industries. The synthetic diamond market is segmented by type, manufacturing process, and geography. By type, the market is segmented into polished and rough. By manufacturing processing, the market is segmented into high-pressure, high-temperature processes (HPHT), and chemical vapor deposition (CVD). The report also covers the market size and forecasts for the synthetic diamond market in 11 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Other Polished Types
Oil and Gas
Other Rough Types
Manufacturing Process
High Pressure, High Temperature (HPHT)
Chemical Vapor Deposition (CVD)
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Rest of North America
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
GCC Countries
South Africa
Rest of Middle-East and Africa
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Synthetic Diamond Market Research FAQs

The Synthetic Diamond Market is projected to register a CAGR of greater than 7.5% during the forecast period (2024-2029)

Element Six UK Ltd., Sumitomo Electric Industries, Ltd., Henan Huanghe Whirlwind Co. Ltd, Zhongnan Diamond Co. Ltd and Zhengzhou Sino-Crystal Diamond Co. Ltd are the major companies operating in the Synthetic Diamond Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Synthetic Diamond Market.

The report covers the Synthetic Diamond Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Synthetic Diamond Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The factors likely to create opportunities for the Synthetic Diamond Market in the future are a) Rising Applications in additive manufacturing and orthopedic medical devices b) Introduction of thin and wide Chemical Vapour Deposition (CVD) diamond plates

CVD Diamond Industry Report

The global synthetic diamond market, which includes key players such as synthetic diamond manufacturers and Chemical Vapour Deposition (CVD) diamond manufacturers, is projected to experience significant growth in the coming years. This growth is driven by factors such as increasing disposable incomes, industrialization, and the burgeoning fashion industry. The market, segmented by type, manufacturing process, and geography, is witnessing various trends that are shaping its trajectory. Synthetic diamonds, used extensively in industries such as electronics, semiconductors, construction, mining, oil and gas, and healthcare, are also integral to super abrasive tools for drilling, cutting, and grinding in the automotive, aerospace, medical, and electronics industries. Despite the complex and high-pressure, high-temperature manufacturing process of synthetic diamonds, their growing adoption in various applications is expected to drive market growth in the future. This market forecast outlook and historical overview are part of the Chemical Vapour Deposition (CVD) Diamond analysis created by Mordor Intelligence™ Industry Reports. The statistics for the Synthetic Diamond market share, size, and revenue growth rate are included in this industry analysis, which is available as a free report PDF download.

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Synthetic Diamond Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)