Synthetic Diamond Market is predicted to reach USD 29.9 billion at a CAGR of 7.80% during the forecast period

Market Research Future (MRFR) has published a cooked research report on the “Global Synthetic Diamond Market” that contains information from 2018 to 2032. The Synthetic Diamond market is estimated to register a CAGR of 7.80% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the Synthetic Diamond Market— Element Six UK Ltd., Scio Diamond Technology Corporation, Applied Diamond Inc, HEYARU, Sandvik Group, ILJIN DIAMOND CO., LTD., Henan Huanghe Whirlwind CO.,Ltd., Zhengzhou Sino-Crystal Diamond Co.,Ltd., Industrial Abrasives Ltd, Swarovski, Soham Industrial Diamonds, Eco Star Diamond, Krystal Grown Diamonds, HeNan LiLiang Diamond Co., Ltd, New Diamond Technology, FOREVER COMPANIES, Hyperion Materials & Technologies, Scio Diamond Technology Corporation, NOVA DIAMONDS PTY LTD, and Charles & Colvard.

Market Highlights

The global Synthetic Diamond market is accounted to register a CAGR of 7.80% during the forecast period and is estimated to reach USD 29.9 Billion by 2032.

The Synthetic Diamond Market encompasses the industry involved in the production and distribution of artificial diamonds, which are manufactured in laboratories using high-pressure, high-temperature (HPHT) or chemical vapor deposition (CVD) methods. These synthetic diamonds serve as alternatives to natural diamonds in various industries, including jewelry, cutting tools, electronics, and industrial applications.

Segment Analysis

The global Synthetic Diamond market has been segmented based on Product, Type, Manufacturing Process and Application.

On the basis of Product, the market is segmented into bort, dust, grit, powder, and stone. The bort category dominated the global market in 2022. The increase in bort demand in heavy industries explains this. This bort is broken up using steel mortars, producing industrial-grade abrasive grits. Tiny bore crystals are used to make drill bits.

Based on Type, the global Synthetic Diamond market has been segmented into polished and rough. In 2022, the polished segment dominated the world market. The polished category is anticipated to rule the market for synthetic diamonds.

Based on Manufacturing Process, the global Synthetic Diamond market has been segmented into high pressure, high temperature, and chemical vapor deposition The high-pressure category dominated the global market in 2022. There are many uses for synthetic diamonds produced using the high-pressure, high-temperature method. Because it is fairly priced, its method is widely used.

Based on Application, the global Synthetic Diamond market has been segmented into gem, heat sinks/exchangers, high-end electronics, laser and X-ray, machine and cutting tools, surgical machinery, water treatment, quantum computing, optical sensors and scanning, medical, and electrical. The market for machines and cutting tools dominated the global synthetic diamond market in 2022. The diamond substance that is most usually used in cutting tools, polycrystalline diamond (PCD), is the second-best class of cutting tool materials after cemented carbides, with a hardness of more than 50 GPa.

Regional Analysis

The global Synthetic Diamond market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Synthetic Diamond market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Synthetic Diamond market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Synthetic Diamond market comprises of Middle East, Africa, and Latin America.

The North America Synthetic Diamond Market dominated this market in 2022 (45.80%). The value of the American construction business was USD 1,469.15 billion in 2020, and it will rise even further in 2021. The U.S. Census Bureau estimated that the nation spent USD 1,639.9 billion on construction in December 2021, which was USD 0.2% more than the previously revised November estimate of USD 1,636.5 billion.

Additionally, the second-largest market share for Synthetic Diamond is held by Europe. This is due to the increasing demand for synthetic diamond in the area. Germany is setting the bar high when it comes to the strong manufacturing activity, expansion, and growth of several end-user sectors in the region. Additionally, the U.K. synthetic diamond market grew the fastest in the European region, while the German synthetic diamond market had the biggest market share.

Moreover, from 2023 to 2032, the Asia-Pacific Synthetic Diamond market is anticipated to grow significantly. Due to the significant production operations carried out by a number of end-use sectors in China, synthetic diamonds have a big market there. According to China's five-year plan, which was unveiled in January 2022, the sector will grow by roughly 6% in 2022. China wants to encourage the development of prefabricated buildings to lessen waste and pollution from construction sites. In addition, the Indian Synthetic Diamond market had the quickest rate of growth in the Asia-Pacific region, while China's Synthetic Diamond market had the biggest market share.

Key Findings of the Study

• The global Synthetic Diamond market is expected to reach USD 29.9 Billion by 2032, at a CAGR of 7.80% during the forecast period.


• The North America Synthetic Diamond Market dominated this market in 2022 (45.80%). The value of the American construction business was USD 1,469.15 billion in 2020, and it will rise even further in 2021.


• Based on Type, in 2022, the polished segment dominated the world market.


• Element Six UK Ltd., Scio Diamond Technology Corporation, Applied Diamond Inc, HEYARU, Sandvik Group, ILJIN DIAMOND CO., LTD., and Henan Huanghe Whirlwind CO., Ltd.