Synthetic Diamond Market Report 2026

The synthetic diamond market size has grown strongly in recent years. It will grow from $20.3 billion in 2025 to $21.88 billion in 2026 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to growth of industrial tooling and cutting applications, increasing demand for high-quality gem diamonds, expansion of electronics and precision equipment sectors, rise in mining and quarrying activities, conventional use of natural diamonds for high-end machinery.

The synthetic diamond market size is expected to see strong growth in the next few years. It will grow to $29.18 billion in 2030 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to rising adoption of synthetic diamonds in quantum computing, growth in laser and x-ray equipment applications, increasing use in surgical machinery and medical devices, demand for cost-effective gem-quality diamonds, expansion in high-end electronics and semiconductor applications. Major trends in the forecast period include adoption of automated diamond manufacturing technologies, integration of iot for real-time monitoring in production, use of energy-efficient and eco-friendly synthesis processes, implementation of ai for quality control and defect detection, rising demand for high-precision industrial-grade diamonds.

The increasing mining activities are expected to drive the growth of the synthetic diamond market in the coming years. Mining activities involve the extraction of valuable minerals, ores, or geological materials from the Earth’s crust for industrial and commercial purposes. These activities are rising due to growing demand for advanced materials across industrial and technological applications, prompting greater mineral exploration and extraction efforts. Synthetic diamonds support mining activities by using mined raw materials and converting them into high-quality diamonds through controlled laboratory processes such as HPHT and CVD, enabling efficient and scalable production. For example, in January 2024, the U.S. Geological Survey (USGS), a U.S. government scientific agency, reported that the total value of nonfuel mineral production in the United States was approximately $105 billion, a 4% increase from 2022. Consequently, the rise in mining activities is driving the growth of the synthetic diamond market.

Major contenders in the synthetic diamond market are innovating by introducing lab-grown diamonds to enhance their competitive edge. Lab-grown diamonds, crafted in controlled laboratory settings, are a departure from naturally formed geological diamonds. For instance, in August 2023, Pandora A/S, a Denmark-based jewelry manufacturer, launched pandora nova, pandora era, and pandora talisman collections incorporating lab-grown diamonds. These collections, featuring the same attributes as mined diamonds, prioritize sterling silver or 14k gold settings, exceptional craftsmanship, accessibility, and affordability. This strategic launch aligns with Pandora's mission of democratizing diamonds through ethical and sustainable practices.

In June 2025, Diamond Technologies Inc., a U.S.-based advanced materials and diamond technology company, acquired the full asset portfolio of Akhan Semiconductor, Inc. for an undisclosed sum. Through this acquisition, Diamond Technologies aimed to strengthen its leadership in synthetic diamond materials innovation, expand its intellectual property in diamond film technologies, and enhance its ability to serve advanced electronics, optical, aerospace, and industrial markets. Akhan Semiconductor, Inc. is a U.S.-based innovator in diamond-based materials, specializing in synthetic diamond films, substrates, and manufacturing technologies for next-generation semiconductor and optical applications.

Major companies operating in the synthetic diamond market report are Sumitomo Electric Industries Ltd., Sandvik Group, De Beers plc Lightbox, Forever Company, Pandora A/S, Swarovski AG, Blue Nile Inc., Henan Huanghe Whirlwind Co Ltd., HeNan LiLiang Diamond Co Ltd., Iljin Diamond Co Ltd., Diamond Foundry, Element Six UK Ltd., Zhengzhou Sino-Crystal Diamond Co Ltd., Clean Origin, WD Lab Grown Diamonds, Applied Diamond Inc., Industrial Abrasives Ltd., Soham Industrial Diamonds, Adamas One Corp, Gemesis Inc., Scio Diamond Technology Corporation, ALTR Created Diamonds, Eco Diamond, Heyaru Engineering Pvt Ltd., Eco Star Lab Grown Diamond, New Diamond Technology, Zhongnan Diamond Co Ltd., Pure Grown Diamonds, Apollo Diamond Inc., TAIRUS CREATED GEMS Co, LTD., James Allen, Queensmith, Ada Diamonds Inc., Chatham Inc.

Asia-Pacific was the largest region in the synthetic diamond market share in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the synthetic diamond market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the synthetic diamond market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A synthetic diamond market consists of sales of colorless sapphire, colorless zircon, synthetic cubic zirconia (zirconium oxide, CZ), and synthetic moissanite (silicon carbide). Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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