Market Size of Synthetic Diamond Industry
| 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
*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.
