The global market for a synthetic diamond is projected to have a CAGR of around 6.4% during the forecast period. Synthetic diamonds (laboratory-grown diamonds) are otherwise called cultured or cultivated diamonds. A synthetic diamond is produced by an artificial process, and offers significant environmental advantages over mined diamonds, and requires a fraction of the resources of mining operations. These are the substitutes for natural diamonds. Synthetic Diamonds comprise various colors grown by the manufacturing method known as high-pressure high temperature (HPHT), and chemical vapor deposition (CVD). They have similar composition, crystal structure, and other properties as natural diamonds. The global synthetic diamond market is growing at a rapid speed due to various factors such as the increasing demand for the diamond as its application has increased in the field of healthcare, construction & mining, electronics, and jewellery. It is a substitute for a natural diamond with a lower price that contributes to the growth of the market. The availability of synthetic diamonds at an affordable price rising disposable income and technological advancement are the other drivers of the market.

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The global synthetic diamond market is segmented based on type, manufacturing process, and application. As per type, the market is further subdivided as polish and rough. The rough segment is projected to grow at a significant rate during the forecast period. These are the uncut and unpolished diamonds used in a wide area of application include oil and gas, mining, precision machining, construction. The demand for this in such type of application fuels the growth of this segment. Based on the manufacturing process, the market is classified into high-pressure high temperature and chemical vapour deposition. On the basis of applications, the market is segregated as construction and mining, electronics, jewellery, healthcare, and others such as oil and gas.

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Geographically, the global Synthetic diamond market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, ASEAN and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). North America is projected to have a considerable market share during the forecast period. The factors driving the growth of the synthetic diamond market in the region include better infrastructural facilities, development of new technology and manufacturing sector, and strong research and development activities. In North America, the US is the major producer of synthetic diamonds.

Global Synthetic Diamond Market – Segmentation
By Type
Polished
Rough
By Manufacturing Process
High-Pressure High-Temperature (HPHT)
Chemical Vapour Deposition (CVD)
By Application
Construction & Mining
Electronics
Jewellery
Healthcare
Others (Oil and Gas)

Global Synthetic Diamond Market – Segmentation by Region 
North America 
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific 
China
Japan
India
Rest of Asia-Pacific
Rest of the World

Company Profiles
Applied Diamond Inc.
Crystallume Corp.
Element Six UK Ltd.
Forevermark Ltd.
Heart in Diamond
Hebei Plasma Diamond Technology Co., Ltd.
Henan Huanghe Whirlwind Co.,Ltd.
Hyperion Materials & Technologies, Inc.
ILJIN Co., Ltd.
Morgan Advanced Materials plc
New Diamond Technology LLC.
Pure Grown Diamonds
Sandvik AB
SWAROVSKI Group
Sumitomo Electric Industries, Ltd.
Tomei Diamond Co.,Ltd.
Washington Diamonds
Zhengzhou Sino-Crystal Diamond Co., Ltd.

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