Synthetic Diamond Market - Complex manufacturing process is likely to hamper the market growth: MRRSE

Albany, NY, March 16, 2016 (GLOBE NEWSWIRE) -- The synthetic diamond market is segmented on the basis of manufacturing process, type, product, end use, and region. By product, the synthetic diamond market is segmented into dust, powder, bort, grit, and stone. On the basis of type, the synthetic diamond market is classified into rough and polished. Of these, rough diamonds held the larger share in terms of volume owing to their increased presence in the industrial diamond segment. On the other hand, polished synthetic diamonds dominate the market in terms of revenue.

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The report includes a detailed value chain analysis, which provides a comprehensive view of the global synthetic diamond market. Porter’s Five Forces Model for the synthetic diamond market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on market size, growth rate, and general attractiveness.

The study provides a decisive view of the global synthetic diamond market by segmenting it in terms of products, type, manufacturing process, and end-users. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual products, type, manufacturing process, and end-user segments in all regions.

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The global synthetic diamond market is divided on the basis of region into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Accounting for a share of over 50% in 2014, Asia Pacific emerged as the leading market for synthetic diamonds. The rising usage of synthetic diamonds in construction activities will enable the Middle East and Africa region to exhibit the highest CAGR during the forecast period.

Growing environmental concern regarding the mining process that is carried out for exploring natural diamonds coupled with strict governmental regulations to extract natural diamond is likely to hamper the production of natural diamonds, thereby giving rise to the manufacture of synthetic diamond. Asia Pacific was the largest market for synthetic diamond due to increase in end-use applications in the region in 2014. The region accounted for more than 50% of the global synthetic diamond market in 2014. Demand for synthetic diamond in the region is estimated to be primarily driven by rapid upsurge in mining in China, India, and countries in ASEAN. Middle East and Africa was the fastest-growing synthetic diamond market due to increased usage of synthetic diamond in construction activities.

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The study includes profiles of major companies operating in the global synthetic diamond market. Key players profiled in the report include Element Six, Applied Diamond Inc., Scio Diamond Technology Corporation, Tomei Diamond Co., Ltd., Pure Grown Diamonds, New Diamond Technology, LLC, Washington Diamonds Corporation, Centaurus Technologies, Inc., Crystallume, Sandvik AB, and ILJIN. Market players are profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.

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Source: MRRSE