Editor’s Note
This article examines the rapidly expanding synthetic single crystal diamond market, projected to grow from $2.12 billion in 2025 to $3.69 billion by 2032. As lab-grown diamonds become increasingly prevalent, understanding their production, applications, and market drivers is essential for industry stakeholders and observers alike.
The global synthetic single crystal diamond market was valued at USD 1.97 billion in 2024. The market is projected to grow from USD 2.12 billion in 2025 to USD 3.69 billion by 2032, exhibiting a CAGR of 8.2% during the forecast period.
Synthetic Single Crystal Diamonds (SCD) are man-made diamonds grown in controlled laboratory environments, possessing the same chemical and physical properties as natural diamonds. Also known as lab-grown or lab-created diamonds, they are produced via Chemical Vapor Deposition (CVD) or High-Pressure, High-Temperature (HPHT) techniques. The market is driven by technological advancements in manufacturing processes, such as HPHT and CVD. These diamonds are gaining popularity due to their wide range of applications, particularly in electronics, healthcare, and industrial sectors.
The electronics sector accounted for the largest share of the synthetic single crystal diamond market in 2024. The electronics industry is a primary driver of SCD demand, especially for high-power and high-frequency devices. SCD’s exceptional thermal conductivity, five times that of copper, makes it an ideal heat spreader for dissipating heat generated by densely packed microchips and power amplifiers.
Unlike most thermally conductive materials that are also electrically conductive, synthetic diamond offers effective heat dissipation without interfering with circuits. This property is invaluable in electronic devices, where synthetic diamonds are used as heat sinks to efficiently dissipate heat, thereby extending the lifespan of electronic components without compromising performance.
Quantum technology is further driving demand for the product. Synthetic single crystal diamonds are used in advanced optical components, high-energy particle detectors, and as substrates for growing other advanced materials.
Synthetic diamonds are increasingly used in healthcare for medical imaging devices, diagnostic equipment, and surgical tools due to their biocompatibility, chemical inertness, and mechanical stability. Diamond-coated scalpels provide precise cutting during surgery while maintaining durability.
North America held the largest share in 2024, generating USD 1.04 billion. This growth is attributed to the region’s technological capabilities and rising disposable income. The United States dominated the North American market in 2024, contributing USD 880 million, driven by its strong technological landscape. The semiconductor industry is a major consumer of heat spreaders, crucial for high-power electronics and advanced computing.
Asia Pacific is a significant market. Japan exhibits strong demand for SCD due to its focus on precision engineering and advanced research. Japanese manufacturers, renowned for their expertise in precision machining, require diamond tools for cutting, grinding, and polishing extremely hard materials. In India, demand for single crystal diamonds is steadily increasing due to a growing manufacturing sector, particularly in automotive and aerospace industries, where diamond tools are essential for machining hard and abrasive materials.
Europe’s demand stems from its long tradition of precision engineering and emphasis on scientific research. High-precision cutting tools, crucial for industries like aerospace and automotive, rely on SCD’s superior hardness and wear resistance.
Element Six, Sumitomo Electric Industries Ltd., Hyperion Materials & Technologies, Orbray Co., Ltd., and Diamond Elements Pvt. Ltd. are the leading players operating in the industry. Companies are pursuing strategies such as mergers, acquisitions, strategic partnerships, and R&D investments to enhance product offerings and increase market share. The global market is highly competitive and fragmented, characterized by the presence of established industry leaders and emerging players, with the top 5 players accounting for 60% of the market share.
Recent Industry Developments:
• Orbray Co., Ltd. launched a radiation detector utilizing its unique, high-quality, large-diameter single crystal diamond technology. The diamond’s excellent physical characteristics, such as its resistance to radiation, enable the detector to operate effectively in high-radiation environments where traditional detectors made from different materials would degrade.
• Element Six, a global leader in high-quality diamond materials, and DS, a leading provider of scientific instruments, announced the launch of the SDS-E600, a compact and advanced 2.45 GHz microwave plasma CVD diamond reactor. This innovative CVD system leverages DS’s widely adopted and robust 2.45 GHz platform and E6’s decades of diamond growth expertise. The SDS-E600 represents a significant advancement for synthetic diamond research and development, offering unparalleled capability for producing high-quality diamond materials using Microwave Plasma-assisted Chemical Vapor Deposition (MPCVD).
• Hyperion Materials & Technologies, a globally renowned leader in materials science focused on creating advanced hard and super materials for various industries and applications, revealed its acquisition of Advanced Diamond Solutions SA. This enhances Hyperion’s product offerings in synthetic and industrial diamond superabrasives.
Rising investment in developing diamond-based quantum processors is a key trend. Driven by the rapidly evolving quantum computing industry, demand for high-quality synthetic single crystal diamonds is surging. Companies and research institutions are heavily investing in developing diamond-based quantum processors, sensors, and communication devices.
Single crystal diamond powder is emerging as a key enabler for next-generation electronics, offering unparalleled performance and reliability. Rapid advancements in synthesis and processing technologies, coupled with relentless demand for high-performance electronics, present diverse growth opportunities for companies and researchers willing to invest in this transformative technology.