A synthetic diamond, also known as artificial diamond and cultured diamond, is the diamond produced in an artificial process. A synthetic diamond manufactured using chemical vapor deposition process is called CVD diamond. The global CVD diamond sales will grow at a CAGR of 7.96% during the forecast period.
Growth by Region
Asia Pacific held the largest market share due to growing industrialization and manufacturing activities. North America and Europe are will also grow at a significant rate in the coming years.
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Drivers vs Constraints
Increasing application of synthetic diamond in various areas is increasing the growth of the market. Increasing demand for super abrasives industry, which use synthetic diamonds are increasing the market growth.
Industry Trends and Updates
KKR announced the acquisition of Hyperion, a leading manufacturer of industrial tool components, from Sandvik.
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De Beers, the 130-year-old diamond company, is to start selling diamonds grown in Berkshire laboratory