CVD Diamond Market Size, Share, Growth, and Industry Analysis, By Type (Rough and Polished), By Application (Machine & Cutting Tools, Thermal Applications, Electrochemical Applications, Gem Segment and Others), Regional Forecast From 2023 To 2030

Updated On: 20 November 2023

CVD DIAMOND MARKET REPORT OVERVIEW

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The global CVD diamond market size was USD 400 million in 2021 and the market is projected to touch USD 676.4 million by 2028, with a growing compound annual growth rate (CAGR) of 7.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the CVD diamond market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

CVD diamond is a synthetic or man-made diamond prepared by CVD techniques in laboratories. CVD stands for chemical vapor deposition. The manufacturing processes are quite complex. On the basis of type, these diamonds are categorized into rough and polished CVD diamonds. Rough diamonds being the leading part. In comparison with original mined diamonds, a polished high quality CVD diamond costs 30% to 40% less than it. At some places, CVD diamonds are preferred by both gemological and industrial customers owing to their benefiting features like hardness, higher durability, high quality, larger surface area, precise cutting and grinding ability, and others.

CVD diamonds are exactly like original mined diamonds having same physical, chemical and optical properties. Not only that, these man-made diamonds have the exact internal structure same, shine and luster. These diamonds are so exactly alike, not even top gemmologists cannot tell a CVD diamond apart from a natural diamond. These diamonds are increasingly in demand for various purposes by numerous industries like electronic industry, super abrasive industry, etc. contrastingly, natural diamonds take billions of years to get formed while these diamonds can be manufactured in a lab over a month.  It is necessary to mention the origin of CVD diamond on the GIA or IGI certification.

COVID-19 Impact: Disturbance in Supply Chains Results to Market Derailment 

As coronavirus upsurged and caused commotion across the masses, various business and market sector had to face severe complications. Some small-scale businesses and markets were forced to shut down, even the majority of large-scale working sectors were compelled to deal with harsh consequences during and COVID-19 pandemic. Chemicals and advanced materials industry being one of those sectors to bear the worst hit of the coronavirus resurgence. Basic and fundamental economic activities had to be stopped. To save expenditure, workers were forcefully removed from their jobs and work positions. Due to the imposed lockdowns the transportation processes were severely disrupted, resulting in derailed market growth.

Once the conditions grew better, CVD diamonds market took the reign, thanks to the growing population and demand of the product, and gained upper edge in the market as product sales improved.

LATEST TRENDS

"Rise in Demand for Product Elevates Market Economy"

The market, presently, is expected to touch USD 7.6891 billion by 2028. Moreover, CVD diamonds market has an impressive growth status during the forecast period plus, a respectable CAGR of 7.7%. with right marketing and business moves and strategies, this market is expected to top the charts worldwide. With added advantage of wider range of applications in a large number of different industries, CVD diamonds market is expected to propel its way and gain higher success as well as popularity globally. Also, with the incorporation of modern technology, this market is expected to produce even better products and gain regional and global recognition, also providing an upper edge for market advancement.

CVD DIAMOND MARKET SEGMENTATION

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• By Type

The market categorizes into Rough and Polished.

Rough is the largest part of type segment, with a share over 60%.

• By Application

The market categorizes into Machine & Cutting Tools, Thermal Applications, Electrochemical Applications, Gem Segment and Others.

Machine & cutting tools is the largest part of application segment, followed by Thermal Applications, Electrochemical Applications, Gem Segment, and others.

DRIVING FACTORS

"Increase in Demand of Product in Various Industry Sectors to Promote Market Growth"

CVD diamond is a synthetic diamond that has the exact same chemical, physical and optical properties of a natural diamond. Besides, a diamond has wider range of application other than being used as jewelry. It is a perfect replacement of natural diamonds has a growing demand as super abrasives, tools that are used in precision grinding and cutting. These CVD diamonds is used as the wheels of super abrasive grinding tools.

CVD diamonds also has an increase in demand for its use as a heat sink in electronics industry. Moreover, these laboratory-made diamonds are increasingly being used in the manufacturing of computer chips.

"Owing to Increase in Product Application as Gemstone in Jewelry Industry to Propel Market Growth"

With the rising standards of middle-class families demand for jewelry and gemstones for numerous purposes has increased tremendously. Thus, resulting in augmentation of market growth. Properties like ethical origins, sustainability, cheaper prices, top quality, high spec diamonds of CVD diamonds have aided in uplifting the market economy. The constant increase in population has also contributed to be an essential factor for the CVD diamond market growth.

RESTRAINING FACTORS

"Complex manufacturing process to Obstruct Market Augmentation"

Manufacturing and production procedures to produce CVD diamonds are quite complex and tricky. Therefore, requiring highly skilled professionals for the same. Moreover, consumer’s preference towards natural diamonds remains another factor constraining market advancement. Furthermore, Strong branding, funding and marketing is required to keep the market active and working. Finding a strong administrator is quite tedious and difficult task, again hampering market growth.

CVD DIAMOND MARKET REGIONAL INSIGHTS

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"Europe to Lead the Market Owing to High Production Rate"

Europe is the largest CVD diamond market share. It is because of the presence of a large number of production units in this region leading to high manufacturing rates.  Furthermore, Europe has excellent connections with the rest of the world and an amazing transportation network.  Element Six, IIa Technologies, Sumitomo Electric, Morgan, and others are some of the prime production partners of the respective market, spread across the globe. This region has strong and steady workforce for the proper and efficient working. Furthermore, in terms of market share, Europe is closely followed by North America and Asia-Pacific, both having a share over 50 percent collectively.

KEY INDUSTRY PLAYERS

"Key Market Faces to Focus on Market Development"

All the key industry players are expected to focus on the holistic development of the product with the aid of high-tech resources and knowledge. With the advancement of product, market can gain upper hand on the regional as well as global markets. Not only that, incorporating the latest technology within the current work practices is anticipated to yield extraordinary results and help the CVD diamonds stay in tune with the changing demands patterns of consumers as well as shaping market trends. The Global top three manufacturers are anticipated to hold a share of about 65%.

List of Market Players Profiled

• Element Six (U.K.)
• IIa Technologies (Singapore)
• Sumitomo Electric (Japan)
• Morgan (U.S.)
• ADT (U.S.)
• SP3 (U.S.)
• Diamond Materials (U.K.)
• Hebei Plasma (China)
• EDP (Portugal)
• DDK (U.S.)
• Beijing Worldia (China)
• Applied Diamond (U.S.)
• Scio Diamond (U.S.)
• Heyaru Group (Dubai)
• BetterThanDiamond (U.S.)
• Jingzuan (China)
• Huanghe Whirlwind (China)
• UniDiamond (Hong Kong)

REPORT COVERAGE

This report studies the CVD diamond market and gives a detailed analysis of the respective market, crucially covering all the essential market features such as current market trends, consumer behavior, industry relations, business moves and tactics, industrial patterns, etc. Moreover, expected changes in the market behavior is also expected to be outlined in this market study. Essential market drivers, opportunities, challenges and risks are also been sketched briefly. The overall objective of this market research report is to highlight each important aspect of the market and help market players, stakeholders, market partners to gain a wider and clearer insight of the respective market status during the forecast period of 2022-2028.