Global Synthetic Diamonds Market to 2028: Players Include Applied Diamond, Iljin Diamond, Labgems, Brilliant Earth and Element Six

DUBLIN, April 3, 2023 /PRNewswire/ -- The "Global Synthetic Diamonds Market 2022-2028" report has been added to  ResearchAndMarkets.com's offering.

As per the study by the publisher, the global synthetic diamonds market is expected to show an uptrend at a CAGR of 8.26% throughout the forecast period 2022-2028.

Companies Mentioned

• Applied Diamond Inc
• Iljin Diamond Co Ltd
• Labgems
• Brilliant Earth LLC
• Element Six
• Asahi Diamond Industrial Co Ltd
• New Diamond Technology LLC
• Zhengzhou Sino-Crystal Diamond Co Ltd
• Engis Corporation
• Heyaru Engineering Nv
• Henan Liliang Diamond Co Ltd
• Wd Lab Grown Diamonds
• Soham Industrial Diamonds
• Sumitomo Electric Industries Ltd

The market's growth is supported by rising demand, less production time, and low cost compared to earth-mined diamonds. The process of making earth-mined diamonds is tedious and cumbersome, making these diamonds rare and expensive. Whereas lab-made diamonds are created using technological advancements resembling the natural diamond-growing process.

Synthetic diamonds are priced approximately 30-40% lower than natural diamonds and are graded using the four Cs (carat weight, cut, color, and clarity) just like their natural counterpart. Furthermore, prices for synthetic diamonds will continue to fall due to their renewable process and shorter supply chain.

However, the dwindling resale value of synthetic diamonds can hamper the growth of the studied market. Natural diamonds have a resale value of approximately 25-50% and can be sold to pawnshops, diamond brokers, online jewelers, and physical offices. However, there are very few shops that allow diamond reselling for synthetic diamonds.

The global synthetic diamonds market is studied across the regions such as Latin America, the Asia-Pacific, Europe, North America, and the Middle East and Africa.

Globally, Asia-Pacific dominates the synthetic diamonds market and is expected to continue its stronghold until 2028. In Japan, the construction sector is expected to expand significantly over the next five years, owing to increased investments in public and private infrastructure and commercial projects.

The region is a major area in the field of skyscrapers and high-rise buildings, making it a significant market for synthetic diamonds, owing to their use in. the construction industry in the form of diaphragm wall cutting, grinding, sawing, tunneling, etc.

COMPETITIVE OUTLOOK

The key players listed in the global SYNTHETIC DIAMONDS MARKET include Brilliant Earth LLC, New Diamond Technology LLC, Henan Huanghe Whirlwind Co Ltd, Engis Corporation, Heyaru Engineering NV, Labgems, WD Lab Grown Diamonds, Soham Industrial Diamonds, Zhengzhou Sino-Crystal Diamond Co Ltd, Iljin Diamond Co Ltd, Henan Liliang Diamond Co Ltd, Element Six, Sumitomo Electric Industries Ltd, Asahi Diamond Industrial Co Ltd, and Applied Diamond Inc.

Element Six, founded in 1946, is a British multinational corporation involved in designing, developing, and producing synthetic diamonds and tungsten carbide super materials. The company is part of the De Beers Group and has primary manufacturing facilities in the United Kingdom, Ireland, Germany, South Africa, and the United States. The company has established a global client base by operating through multiple distributors in Asia-Pacific, the Americas, and Europe.

Key Topics Covered:

1. Global Synthetic Diamonds Market - Summary

2. Industry Outlook
2.1. Impact of Covid-19 on the Synthetic Diamonds Market
2.2. Key Insights
2.2.1. Rising Industrial Demand for Synthetic Diamonds
2.2.2. Usage of Synthetic Diamonds in Medical Equipment
2.3. Porter's Five Forces Analysis
2.4. Key Buying Impact Analysis
2.5. Market Attractiveness Index
2.6. Vendor Scorecard
2.7. Industry Components
2.8. Key Market Strategies
2.8.1. Product Launches
2.8.2. Collaborations
2.8.3. Acquisitions
2.9. Market Drivers
2.9.1. Rising Demand and Less Production Time
2.9.2. Cheaper Alternative to Earth-Mined Diamonds
2.10. Market Challenges
2.10.1. High Cost of Processing Synthetic Diamonds
2.10.2. Dwindling Resale Value of Synthetic Diamonds
2.11. Market Opportunities
2.11.1. Emerging Use in Next-Gen Quantum Sensing Systems
2.11.2. Application of Synthetic Diamonds in the Defense Sector

3. Global Synthetic Diamonds Market Outlook - by Coloration
3.1. Colored
3.2. Colorless

4. Global Synthetic Diamonds Market Outlook - by Manufacturing Method
4.1. High Pressure-High Temperature (Hpht)
4.2. Chemical Vapor Deposition (Cvd)

5. Global Synthetic Diamonds Market Outlook - by Industry Vertical
5.1. Construction
5.2. Mining
5.3. Oil & Gas
5.4. Electronics
5.5. Healthcare
5.6. Jewelry
5.7. Other Industry Verticals

6. Global Synthetic Diamonds Market Outlook - by Sales Channel
6.1. Online Sales Channels
6.2. Offline Sales Channels

7. Global Synthetic Diamonds Market - Regional Outlook

8. Competitive Landscape

9. Research Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/76mvzd

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