Target Audience of “Synthetic Diamond Market” Report 2018: Manufacturer / Potential Investors, Traders, Distributors, Wholesalers, Retailers, Importers and Exporters, Association and government bodies.
Synthetic Diamond Market Report provides key statistics on the market status of the Synthetic Diamond Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Synthetic Diamond Industry.
Diamond produced through an artificial process is a synthetic diamond. It is also known as artificial diamond, cultured diamond, or cultivated diamond. On the basis of manufacturing process, synthetic diamond is classified into: high-pressure high-temperature (HPHT) diamond or chemical vapor deposition (CVD) diamond. Synthetic diamond market is expected to witness healthy growth, due to its increasing demand in industries, such as electronics, construction, mining, and healthcare. Asia-Pacific is the largest market for synthetic diamonds, and it is estimated to register a CAGR of 8.21% during the forecast period, due to the rapid growth in manufacturing and construction sectors in the region.
Increasing Application in Electronic Devices
In terms of revenue, electronics segment contributes almost 25% of the synthetic diamond market. The chemical and physical properties of synthetic diamond, such as exceptional thermal conductivity, high resistance to thermal shock, widest optical transparency window, wide band gap, chemical inertness, high electrical carrier mobility, electric insulation, hardness, and excellent mechanical properties, have made it widely useful for application in electronic devices. High thermal conductivity serves as an effective heat dissipater, and makes it widely useful in the production of semiconductors, which are further used in electronic devices, such as laptops, computers, and mobiles. Presently, CVD diamond is extensively used in designing chips, as it helps reduce operating temperatures, extends operating life, and improves reliability of electronic devices. The increasing demand for electronics, primarily the increasing sales of semiconductors, is likely to boost the demand for synthetic diamonds during the forecast period.
Increasing Demand from the Super Abrasives Industry
Super abrasives are tools used in precision grinding. Synthetic diamond is used in super abrasive grinding wheels, due to its suitable properties, such as hardness, unparalleled performance, and longevity. Today, various industries, like automotive, electronics, oil & gas, and construction, have been installing Computer Numerical Control (CNC) machines to reduce the need for skilled labor. Super abrasives are extensively used in manufacturing grinding wheels for Computer Numerical Control (CNC) machines. Moreover, increasing usage of grinding wheels, cutting tools, files, dressing tools, etc., in the automotive industry achieve better finish. High performance of vehicles is driving the demand for super abrasives. Super abrasives are also used to process semiconductor materials, ceramics, carbide alloys, copper and copper alloys, aluminum, resin, and rubber. Hence, with increasing usage of super abrasives, the demand for synthetic diamonds for manufacturing super abrasives is likely to increase in the coming years.
Asia-Pacific to Dominate the Market Growth
Asia-Pacific is the largest market for synthetic diamonds, followed by North America and Europe. Growing industrialization and manufacturing activities are likely to fuel the growth of the market in Asia-Pacific, during the forecast period. Along with this, rebound of the manufacturing industry and increasing shale gas exploration activities, lead to increase in the demand for CNC machines, and drilling & mining tools are likely to boost the demand for the synthetic diamond market in the coming years.
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Finally, the feasibility of new investment projects is assessed, and overall research conclusions are offered. In this KEYWORD Market analysis, traders and distributors analysis is given along with contact details. For material and suppliers also, contact details are given. New investment feasibility analysis is included in the report.