NEW YORK, April 13, 2016 /PRNewswire/ -- The global moissanite market is witnessing a favorable growth, due to its similar properties and characteristics to diamond. It is available for about one-tenth price of a standard diamond, which is the most important factor driving its market growth currently. Besides, the increasing inclination of the people towards luxurious jewelry products is also fueling the market growth.
To understand and assess the opportunities in this market, the report is categorically split into two sections, namely market analysis by application and region. The report analyzes the global moissanite market in terms of market value (US$ Mn).
The report starts with an overview of the global moissanite market and its growth factor impact analysis. In the same section, PMR covers the global moissanite market performance in terms of revenue. This section includes PMR's analysis of the key trends, drivers, opportunities, and restraints in the global market. Impact analysis of the key growth drivers and restraints, based on the weighted average model, is included in this report to better equip clients with crystal clear decision-making insights.
Rising awareness, coupled with the strengthening of the distribution network, is expected to fuel the growth of the global moissanite market over the forecast period.
The section that follows analyzes the market on the basis of region and presents the market size in terms of value for the forecast period (2015–2025).
Regions covered in the report are as follows:
The Middle East & Africa
Of the aforementioned segments, the North America market is expected to expand at the highest CAGR of 6.3% during the forecast period in terms of value. However, Asia-Pacific market is expected to grow at the faster rate during the forecast period. Moreover, in terms of value share, North America is expected to account for the highest value share of the overall market, followed by Asia-Pacific.
The next section of the report analyzes the market on the basis of application and evaluates the market size in terms of value for the forecast period.
On the basis of application, the market is segmented into:
Of the aforementioned application, the rings segment is expected to expand at the highest CAGR of 6.5% during the forecast period in terms of value. The earrings segment is expected to expand at a promising growth rate during the forecast period. In terms of value, the ring segment is expected to account for the highest share of the global market, followed by the earrings segment.
Charles & Colvard, Ltd. is the only player operating in the global market currently. Meanwhile, Cree Inc. and Norstel AB are the key raw material suppliers in the global moissanite market.
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