【Dublin, Irel】Synthetic Diamonds Industry Outlook, 2030: Total Revenue Forecast to Reach $21.4 Billion, Driven by Rising Demand from Electronics and Semiconductor Industries

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Editor’s Note

This report analyzes the global synthetic diamond market, valued at $15.3 billion in 2023 and projected to reach $21.4 billion by 2030, growing at a 4.9% CAGR. It provides a detailed examination of key market trends and drivers shaping this growth.

Market Overview and Growth Forecast

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.

Key Market Drivers

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.

Segments Propelling Market Growth

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
“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.”
“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.”
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

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⏰ Published on: October 11, 2024