TMR_Research_Reports_2017 Synthetic Diamond Market Research 2023 | Page 2

Synthetic Diamond Market
REPORT
Synthetic Diamond Market - Global Industry Analysis Size Share
Growth Trends and Forecast 2015 – 2023
The global synthetic diamond market is highly consolidated in which the top three companies,
namely SandvikAB, ElementSix, and ILJINCo. Ltd, hold three fourth of the share in the
market. A research study by Transparency Market Research finds that forward integration has
aided these companies clinch top positions. Their future, however, shall depend on well-
thought-out investments in research and development activities to bring down the cost of
manufacturing and improve the quality of the product.
As per the report, savvy companies in the global synthetic diamond market should consider
setting up shop in emerging economies of Asia Pacific for cost benefits and higher returns on
investments. Tying up with research institutes to slash research and development costs will
also hold the companies in good stead, finds the report.
The TMR report predicts the global synthetic diamond market to expand at a CAGR of 7.0%
between 2015 and 2023. Rising at this rate, the market will likely attain a value of US$28.83
bn by 2023 from US$15.73 bn in 2014.
Obtain Report Details @ http://www.transparencymarketresearch.com/synthetic-
diamond-market.html
Flourishing Construction Industry Powers Asia Pacific Market
The two types of synthetic diamonds available in the market are rough and polished. Among
the two, the rough synthetic diamond held a lion’s share in the market – precisely 98.8% – in
2014. Polished diamond, on the other hand, accounted for a paltry share in the market in the
same year. Going forward too, the demand for polished diamonds will remain lackluster, while
that of rough diamond will continue to soar at a healthy clip on account of their growing usage
in electronics, healthcare, and construction sectors.
From a geographical standpoint, Asia Pacific is slated to account for a leading share of 55.8%
by 2023 in the synthetic diamond market. The growth in the region will be powered mostly by
the flourishing construction industry in the emerging economies of the region. Besides,
Transparency Market Research
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