1 Global Big Size Synthetic Diamond Market Outlook
The global Big Size Synthetic Diamond market is projected to exhibit substantial growth in the coming years, with a CAGR of 18.25% from 2024 to 2033, reaching a total market size of $824.02 million USD in 2024. Big size synthetic diamonds are a diamond that is created in a laboratory setting using high-pressure, high-temperature (HPHT) or chemical vapor deposition (CVD) processes. These processes mimic the natural conditions under which diamonds are formed deep in the Earth’s mantle. Big size synthetic diamonds re widely used in various industries, including jewelry, superhard materials, optical materials, semiconductors and electronic products.
Figure Global Big Size Synthetic Diamond Market Size and Growth Rate (2024-2033)
2 Big Size Synthetic Diamond Market Growth Drivers and Constraints
Market drivers for the global big size synthetic diamond industry include the cost advantage of synthetic diamonds over natural diamonds, which are significantly cheaper to produce and offer a more environmentally friendly and reproducible alternative. This cost advantage is further enhanced by advancements in synthetic diamond technology, leading to increased production speeds and economies of scale, thereby reducing the price of large-size synthetic diamonds and driving market growth. Additionally, there has been a significant increase in the use of synthetic diamonds in jewelry making, as their quality improves and prices decline, making them an attractive option for various jewelry brands that are now designing and selling synthetic diamond jewelry. This trend is reinforced by the growing consumer acceptance of synthetic diamonds as a sustainable and ethical choice in the jewelry sector. Industrial applications of large-size synthetic diamonds are also on the rise, given their wide usage in industries such as aerospace, defense, photovoltaics, automotive, and electronics, where they are used in the manufacture of cutting tools, grinding materials, optical devices, and electronic components like transistors and semiconductors. The growth in these industries is expected to further boost the demand for big size synthetic diamonds. However, the market faces constraints and challenges, primarily due to limited consumer acceptance of synthetic diamonds. Many consumers still prefer natural diamonds for their rarity and symbolic value, and have reservations about the authenticity and value retention of synthetic diamonds, which are seen as less scarce and more susceptible to market price fluctuations. This skepticism, rooted in cultural perceptions and ethical considerations, poses a significant barrier to the widespread adoption of synthetic diamonds and constraints the market growth of the large-size synthetic diamond industry.
3 Big Size Synthetic Diamond Market M&A Activities
Notably, Adamas One Corp announced its intention to acquire Flawless Allure Grown Diamonds LLP, a lab-grown diamond manufacturer based in India, which will enhance Adamas One’s production capabilities. Additionally, Diamond Foundry has begun construction on its second factory in Cáceres, Spain, dedicated to producing single-crystal diamond chips, with an estimated investment of $850 million. This facility, expected to start production in 2025, aims to meet the rising demand for industrial diamonds used in semiconductors. Furthermore, Diamond Foundry has acquired Augsburg Diamond Technology (Audiatec), a German company specializing in diamond wafers for jewelry and manufacturing. Lastly, LUSIX, an Israeli lab-grown diamond producer, successfully raised $90 million in funding to expand its production capacity with a new solar-powered facility, reflecting the industry’s focus on sustainability and meeting increasing global demand for lab-grown diamonds.
4 Global Big Size Synthetic Diamond Market Analysis by Type
In 2024, the global revenue from Big Size Synthetic Diamond, categorized by product type, reached a significant milestone. The HPHT Rough Diamond segment generated a revenue of $420.14 million USD, holding a market share of 50.99%, while the CVD Rough Diamond segment contributed $403.88 million USD in revenue, accounting for 49.01% of the market share. Together, these two product types constituted the entire market, reflecting the industry’s revenue distribution and the prominence of HPHT and CVD technologies in the synthesis of big size synthetic diamonds.
Table Global Big Size Synthetic Diamond Market Size and Share by Type in 2024
Type | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
HPHT Rough Diamond | 420.14 | 50.99% |
CVD Rough Diamond | 403.88 | 49.01% |
5 Global Big Size Synthetic Diamond Market Analysis by Application
In 2024, the global revenue from Big Size Synthetic Diamond, when analyzed by end user, demonstrated a clear distribution across various applications. The Jewelry segment led with a revenue of $348.02 million USD, capturing a market share of 42.23%. Following closely was the Superhard Material segment with $258.31 million USD in revenue, holding a 31.35% market share. The Optical Material segment contributed $83.57 million USD, with a 10.14% share, while the Semiconductor and Electronics segment generated $58.43 million USD, representing a 7.09% share. Other applications collectively amassed $75.70 million USD, which corresponded to a 9.19% market share. These figures underscore the diverse utilization and financial impact of big size synthetic diamonds across different industries, with jewelry and superhard materials being the most significant revenue drivers in 2024.
Table Global Big Size Synthetic Diamond Market Size and Share by Application in 2024
Application | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
Jewelry | 348.02 | 42.23% |
Superhard Material | 258.31 | 31.35% |
Optical Material | 83.57 | 10.14% |
Semiconductor and Electronics | 58.43 | 7.09% |
Others | 75.70 | 9.19% |
6 Global Big Size Synthetic Diamond Market Analysis by Region
In 2024, the global revenue from Big Size Synthetic Diamond across various geographic regions showcased a dispersed yet robust market presence. North America accounted for the highest revenue with $353.49 million USD, securing a market share of 42.90%. Europe followed with $203.04 million USD in revenue, holding a 24.64% market share. The Asia Pacific region contributed $221.68 million USD, capturing 26.90% of the market share. Latin America and the Middle East and Africa together generated $27.44 million USD and $18.37 million USD respectively, with market shares of 3.33% and 2.23%. These figures reflect the regional distribution of the big size synthetic diamond market’s financial performance, highlighting North America’s leading position and the significant contributions from other regions, which together contribute to the global industry’s growth and revenue.
Figure Global Big Size Synthetic Diamond Market Share by Region in 2024
7 Top 3 Companies of Global Big Size Synthetic Diamond Market
7.1 North Industries Group
Company Introduction and Business Overview:
North Industries Group specializes in the research and development of special equipment, superhard materials, special vehicles and auto parts. The superhard materials business mainly includes artificial diamond, cultured diamond, cubic boron nitride and other products, which are mainly used in traditional industrial fields, consumer fields, high-end and functional fields.
Products Offered:
As a prominent player in the big size synthetic diamond industry, North Industries Group specializes in the production of HPHT Rough Diamond and CVD Rough Diamond, catering to the diverse needs of various end users. Their product line encompasses a wide range of synthetic diamonds that are utilized in applications such as jewelry, superhard materials, optical materials, semiconductors, and electronics. The company’s commitment to quality and innovation is evident in their product offerings, which meet the stringent requirements of different industries. North Industries Group’s products are known for their high purity, excellent physical properties, and consistency, which are crucial for performance-critical applications. The company’s ability to deliver a broad spectrum of synthetic diamond products positions them as a key supplier in the global market.
Sales Revenue in 2024:
In 2024, North Industries Group achieved a revenue of $100.25 million USD from their big size synthetic diamond operations, marking a significant milestone in their financial performance for the year. This revenue figure underscores the company’s strong market presence and the commercial success of their synthetic diamond products in the global market.
7.2 Henan Huanghe Whirlwind
Company Introduction and Business Overview:
Henan Huanghe Whirlwind is a China-based company primarily engaged in the research and development, production and sales of superhard materials and products. The Company mainly operates through two business segments: the Superhard Materials and Products segment and the Industrial Intelligent segment. The Company’s primary products include superhard materials, superhard material products, construction machineries, superhard cutting tools, superhard composite materials and metal powder. Its superhard materials are mainly used for the manufacturing of diamond grinding tools, diamond dressing tools, diamond drilling tools, diamond sawing tools, diamond superhard materials and other products.
Products Offered:
The Henan Huanghe Whirlwind is recognized for its synthetic diamonds, which are created through the High Pressure High Temperature (HPHT) process, a method that replicates the natural diamond formation conditions. Henan Huanghe Whirlwind’s synthetic diamonds are valued for their identical physical and chemical properties to natural diamonds, making them suitable for a variety of applications, including industrial uses such as cutting tools and abrasive materials, as well as for jewelry where they offer a cost-effective and ethical alternative to mined diamonds. The company’s commitment to quality and innovation is reflected in its product range, which meets the specific requirements of different industries and contributes to its position as a major player in the synthetic diamond market.
Sales Revenue in 2024:
For the year 2024, Henan Huanghe Whirlwind achieved a revenue of $87.69 million USD from their big size synthetic diamond operations, indicating a substantial financial performance and a strong standing in the synthetic diamond industry for that year.
7.3 Ningbo Crysdiam Industrial Technology
Company Introduction and Business Overview:
Ningbo Crysdiam Industrial Technology Company develops and manufactures natural and synthetic diamond and diamond tools and related equipment such as CVD large size single crystal diamond, diamond saw blades, diamond grinding wheels, diamond wire saws, heat sinks, and other products. The company’s products are currently mainly used in jewelry, precision tools, and other fields.
Products Offered:
Ningbo Crysdiam Industrial Technology, highlighting their expertise in producing CVD large size single crystalline plates. These diamonds are utilized for their exceptional properties, such as customized shapes up to 20mm×20mm×20mm, nitrogen content below 50ppm, hardness ranging from 80 to 150GPa, a young’s modulus of 1150 to 1300GPa, a friction coefficient between 0.05 and 0.05, thermal expansion of 10⁻⁶K⁻¹, and thermal conductivity between 1500 to 2000 w/(m·K). Ningbo Crysdiam Industrial Technology’s focus on quality and customization within the synthetic diamond sector positions them as a significant player in the industry, catering to advanced applications where precise specifications are crucial.
Sales Revenue in 2024:
Ningbo Crysdiam Industrial Technology reported a revenue of $82.53 million USD from their big size synthetic diamond operations in 2024, reflecting a strong growth trajectory and solid market performance. This revenue underscores the company’s successful positioning in the synthetic diamond industry, driven by their high-quality CVD diamonds and increasing demand across various applications.