Global CVD Diamond Market Overview:
A CVD or Chemical Vapor Deposition Diamond, also referred as a laboratory-created Diamond, which is produced by means of a synthetic method, as compared to real or natural diamonds that are generated by physical processes. The use of CVD process is cheaper because it works at moderate temperatures with a low pressure that requires less expensive equipment. Yellow or Blue CVD Diamond crystals can be manufactured by introducing boron or nitrogen into the chamber while manufacturing the product. Although the CVD process is growing because of its efficiency in both time and value, there a few many factors that can be expensive in the future due to the inflation levels. Several applications in industries like mining, optics, electronics, construction, etc. will increase the demand for this market. The worldwide synthetic diamond market Market is projected to reach a of value US$28.15 bn by the end of 2023 and expected to grow at a steady CAGR of about 7.38% over the forecast period of 2018-2023.
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Global CVD Diamond Market Drivers and Restraints:-
The CVD diamond market rises due to the growing usage in the electronics industry for the production of different kinds of materials. The demand is expected to increase during the forecast period, as semiconductors have become more embedded in an ever-increasing number of products from cars to coffee and in Internet of Things (IoT). This increasing usage of semiconductors in various end uses is expected to boost the demand for the synthetic diamond from the electronics industry, during the forecast period. Contaminant are common but as the technology has progressed, their properties have improved, which is likely to drive the market in the coming years. However, branding, and marketing value for synthetic diamond embedded jewelry may decline the market growth during the forecast period.
Global CVD Diamond Market-Geographical Segmentation:-
Geographically, Asia-Pacific is the largest market for synthetic diamond across the globe due to the tremendous increase in industrialization of semiconductor market. North America is the second largest and fast growing market with a largest consumer base. Europe and Middle East will witness a major growth in the forecast period due to the approval of new industrial sectors.
Some of the key players of the global market of CVD diamonds include Element Six, AOTC, Swarovski Group, Scio Diamond Technology Corporation, and Sumitomo Electric Industries, amongst others.
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