The Synthetic Diamond Global Market Report 2023 by The Business Research Company, provides synthetic diamond market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Synthetic Diamond Global Market Report 2023, the market size is expected to grow from $16.78 billion in 2022 to $18.01 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the synthetic diamond market is expected to grow to $23.41 billion in 2027 at a CAGR of 6.8%.
An increase in the use of synthetic diamonds in the electronic industry is expected to propel the growth of the synthetic diamond market going forward. The use of synthetic diamonds in the electronics industry has been growing due to their ability to act as heat sinks. Synthetic diamond prevents silicon and other semiconductor materials from overheating; hence, it has become a critical heat-enabling technology. Synthetic diamond is used to manufacture smaller and more powerful electronics when it is used as a semiconductor, thereby increasing its usage in radio frequency and power device types.
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The synthetic diamond market is segmented:
1) By Type: Polished, Rough
2) By Manufacturing Process: High Pressure, High Temperature, Chemical Vapour Deposition
3) By Application: High-End Electronics, Laser and X Ray, Surgical Machinery, Quantum Computing, Other Applications
Technological advancement is the key trend gaining popularity in the synthetic diamond market. Major companies are adopting nascent technologies to sustain their position in the market. For instance, in September 2021, Quantum Brilliance, an Australia-based quantum computing hardware company, developed quantum computers based on synthetic diamonds that can run at room temperature and can be miniaturized. It is in stark contrast to the superconducting quantum systems, which need large and energy-hungry cooling systems to keep them at a temperature colder than interstellar space.
The synthetic diamond market report table of contents includes:
1. Executive Summary
2. Synthetic Diamond Market Characteristics
3. Synthetic Diamond Market Trends And Strategies
4. Synthetic Diamond Market – Macro Economic Scenario
5. Synthetic Diamond Market Size And Growth
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26. Africa Synthetic Diamond Market
27. Synthetic Diamond Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Synthetic Diamond Market
29. Synthetic Diamond Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Element Six UK Ltd
- Scio Diamond Technology Corporation
- Applied Diamond Inc.
- Heyaru Engineering Pvt. Ltd
- Sandvik Group
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