TMR_Research_Reports_2017 Synthetic Diamond Market Research 2023 | Page 3

Synthetic Diamond Market
booming industrialization and ever-increasing demand for jewelry are also expected to
underpin the growth momentum in the Asia Pacific market. China and India are two of the
prominent markets in the region on account of most of the leading players building
manufacturing units in the two countries to take advantage of low operational costs.
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Physical and Chemical Strength of Synthetic Diamond Drives their Demand
“Synthetic diamonds are indispensable in various industrial applications such construction,
computer chip production, oil and gas exploration, mining activities, stone cutting and
polishing, and in surgeries. Thus, the definite rise in these activities has led to an uptick in
revenues in the synthetic diamond market,” points out the lead analyst of the TMR report.
The ability of synthetic diamonds to stay unscathed in extreme conditions, high thermal
conductivity, low toxicity, and strong chemical inertness has made them sought after in the
aforementioned industries. Hence they find application in high-energy research facilities and
for abrasive tasks such as cutting and polishing. Furthermore, the relatively cheaper cost of
synthetic diamonds, helps them steal a march over natural diamonds. Also, they are available
in various colors which makes them perfect for jewelry.
One factor proving counterproductive to the global synthetic d