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Synthetic Diamond Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • ID: 4663737
  • Report
  • April 2022
  • Region: Global
  • 150 Pages
  • Mordor Intelligence


  • AOTC
  • Applied Diamond Inc.
  • Element Six UK Ltd
  • ILJIN Diamond
  • Pure Grown Diamonds
  • Swarovski

The synthetic diamond market size was valued at around USD 14.08 billion in 2021, and the market is projected to register a CAGR of over 8% during the forecast period (2022-2027).

The market was negatively impacted by COVID-19 in 2020. However, the market has now been projected to have reached pre-pandemic levels.

Key Highlights

  • Over the short term, the growing demand for super abrasives for grinding, cutting, dressing, and drilling tools is expected to drive the market’s growth.
  • Consumers' perception of the original diamond is expected to hinder the market’s growth.
  • Asia-Pacific dominated the synthetic diamond market across the world, owing to the rapid growth of electronics manufacturing in countries like China, India, and Japan.

Key Market Trends

Electronics Segment is Expected to Dominate the Market

  • The usage of synthetic diamonds in the electronics industry has been increasing due to their ability to act as a heat sink. Synthetic diamond prevents silicon and other semiconductor materials from overheating, and thus, it has become a critical heat-enabling technology.
  • The demand is expected to increase during the forecast period, as semiconductors have become more embedded in the ever-increasing product number, from cars to coffee makers, and nascent technologies, such as artificial intelligence, virtual reality, and the Internet of Things (IoT).
  • Synthetic diamond is unmatched in its ability to diffuse heat. When used as a semiconductor, synthetic diamond is used to manufacture smaller and more powerful electronics, thereby increasing its usage in radio frequency (RFs) and power device types.
  • Moreover, due to the high refractive index of the diamond, it is used in telecommunication information transmissions, as it minimizes the information loss during high-level-security signal transmission. It also increases the transmission capacity.
  • The global consumer electronics industry has been proliferating across the world over the years, owing to the consistently increasing demand for cellular phones, which in turn are driving the demand for semiconductors and boosting the market demand of synthetic diamond in semiconductor applications.
  • This increasing usage of semiconductors by various end-users is expected to boost the demand for synthetic diamonds from the electronics industry during the forecast period.
  • The revenue in the Consumer Electronics market projected to be to USD 1,056,693 million in 2022 with a CAGR of 1.82% between 2022-2026.
  • Thus, based on the aforementioned aspects the electronics segment is expected to dominate the market.

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share. Owing to the high manufacturing activities by numerous end-user industries in the country, synthetic diamonds have a huge market in China.
  • The electronic manufacturers in China are making attempts for intelligent manufacturing and upgrading to high-end manufacturing. Apart from China, the ASEAN region is the largest exporter of electronics, which is equivalent to about 25% of the region’s total exports in goods.
  • Japan also has significant contributions to the electronics and IT industries. Japanese electronics and IT industries were valued at about USD 327 billion in 2020, and they are estimated to reach about USD 340 billion in 2021, with a growth rate of about 4%, which in turn stimulates the market demand for synthetic diamonds.
  • Synthetic diamonds are widely used in the stone and construction industry. They are used in cutting blade solutions for all abrasive surfaces. Other applications of synthetic diamonds in the construction industry include sawing, cutting, grinding, diaphragm wall cutting, tunneling, etc.
  • China is expected to have 25% of global healthcare industry revenue share by 2030. This is expected to increase the demand for synthetic diamond in medical applications.
  • The medical device market in China is one of the fastest-growing market sectors. The number of private hospitals in the country is less and the procurement of healthcare product is majorly driven by large public hospitals, which led to the increasing usage of medical devices in public hospitals. This factor drove the demand for synthetic diamond in the sector.
  • Therefore, the aforementioned factors are expected to make the Asia-Pacific region the dominant one in the global market.

Competitive Landscape

The synthetic diamond market is fragmented, with various large, mid-sized, and small players focusing heavily on research and innovation, to cater to the rising demand. Some of the key players in the market (in no particular order) include Element Six UK Ltd, Sumitomo Electric Industries Ltd, Zhongnan Diamond Co. Ltd, Henan Huanghe Whirlwind Co. Ltd, and Zhengzhou Sino-Crystal Diamond Co. Ltd, among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.
Note: Product cover images may vary from those shown


  • AOTC
  • Applied Diamond Inc.
  • Element Six UK Ltd
  • ILJIN Diamond
  • Pure Grown Diamonds
  • Swarovski

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Increasing Demand for Super Abrasives
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5.1 Type
5.1.1 Polished Jewelry Electronics Healthcare Other Polished Types
5.1.2 Rough Construction Mining Oil and Gas Other Rough Types
5.2 Manufacturing Process
5.2.1 High Pressure, High Temperature (HPHT)
5.2.2 Chemical Vapor Deposition (CVD)
5.3 Geography
5.3.1 Asia-Pacific China India Japan ASEAN Countries Rest of Asia-Pacific
5.3.2 North America United States Rest of North America
5.3.3 Europe Germany France United Kingdom Italy Spain Rest of Europe
5.3.4 South America Brazil Rest of South America
5.3.5 Middle-East and Africa GCC Countries South Africa Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Applied Diamond Inc.
6.4.2 AOTC
6.4.3 Element Six UK Ltd
6.4.4 Henan Huanghe Whirlwind Co.
6.4.5 ILJIN Diamond
6.4.6 New Diamond Technology LLC
6.4.7 Pure Grown Diamonds
6.4.8 Scio Diamond Technology Corporation
6.4.9 Sumitomo Electric Industries Ltd
6.4.10 Swarovski
6.4.11 Zhengzhou Sino-Crystal Diamond Co.
6.4.12 Zhongnan Diamond Co. Ltd
7.1 Introduction of Thin and Wide CVD Diamond Plates
7.2 Applications in Orthopedic Medical Devices
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Applied Diamond Inc.
  • AOTC
  • Element Six UK Ltd
  • Henan Huanghe Whirlwind Co.
  • ILJIN Diamond
  • New Diamond Technology LLC
  • Pure Grown Diamonds
  • Scio Diamond Technology Corporation
  • Sumitomo Electric Industries Ltd
  • Swarovski
  • Zhengzhou Sino-Crystal Diamond Co.
  • Zhongnan Diamond Co. Ltd
Note: Product cover images may vary from those shown