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UNITED STATES SYNTHETIC DIAMONDS MARKET FORECAST 2022-2028

The United States synthetic diamonds market is projected to register a CAGR of 9.16% during the forecasting period, reaching a revenue share of $8699.37 million by 2028. The base year considered for the studied market is 2021, and the forecasted years are from 2022 to 2028.

UNITED STATES SYNTHETIC DIAMONDS MARKET FORECAST 2022-2028

United States Synthetic Diamonds Market by Manufacturing Process (High Pressure High Temperature, Chemical Vapor Deposition) Market by Color (Colored, Colorless) Market by Distribution Channel (Online Channel, Offline Channel) Market by Application (Construction, Mining, Oil & Gas, Electronics, Healthcare, Jewelry, Other Applications)

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The United States synthetic diamonds market is projected to register a CAGR of 9.16% during the forecasting period, reaching a revenue share of $8699.37 million by 2028. The base year considered for the studied market is 2021, and the forecasted years are from 2022 to 2028.

The market growth of the country is driven by the extensive use of synthetic diamonds in the healthcare sector, in addition to the increasing demand for machine tools as well as cutting tools across various industries.

United States Synthetic Diamonds Market

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Modern technology replicates the process through which natural diamonds are formed, either through a unique deposition technique termed chemical vapor deposition (CVD) or the use of high temperatures and pressures known as the high pressure high temperature (HPHT) method. On the other hand, after being grown, several synthetic diamonds produced via deposition may be further subjected to heat and pressure treatment.

The medical device industry in the United States possesses a strong international reputation in terms of manufacturing cutting-edge goods and devices. With the projected rise in healthcare expenditure following the COVID-19 pandemic, the demand for synthetic diamonds in the country is expected to increase, as well. The United States also has a competitive advantage in various areas, such as instrumentation, biotechnology, microelectronics, software development, and telecommunications, pivotal to the medical devices sector.

In addition, artificial diamonds are also used in mining drills and other equipment. Primarily employed in drilling and exploration endeavors within the oil & gas industry in the United States, synthetic diamonds are also used in products such as thermal detectors, drill bits, PCD discs, gauge cutters, shaped synthetic diamond inserts, and others. Therefore, these factors are to propel the market growth in the United States over the forecasted period.

The United States synthetic diamonds market is segmented into manufacturing process, color, distribution channel, and application. The application segment entails construction, mining, healthcare, oil & gas, electronics, jewelry, and others. Synthetic diamonds are frequently used in the construction industry, with abrasive surfaces employing cutting blade solutions, as well. Furthermore, they are also used for cutting diaphragm walls, sawing, tunneling, grinding, and others. These artificial diamonds are available in various sizes as well as strengths in order to best suit potential applications, in addition to enhancing the performance of tools.

Owing to the high costs of natural diamonds, their demand in the jewelry sector has continued to remain steady over recent years. Besides, while only 2% of the synthetic diamonds market’s earnings are presently linked to jewelry applications, the percentage is expected to increase further. The market could also significantly benefit from the rising production of lab-created diamonds, comprising characteristics similar to genuine diamonds and available at a considerably lower price.

Some of the eminent companies operating in the United States synthetic diamonds market are Engis Corporation, Element Six, LabGems, Heyaru Engineering NV, etc.

WD Lab Grown Diamonds, headquartered in the United States, specializes in high-quality laboratory-created diamonds as well as solutions in advanced materials. The two varieties of synthetic diamonds offered by the company include advanced materials and technical diamonds for industrial use and sustainability-certified lab-created diamonds as gemstones.

The company’s diamond wafers entail semi- to fully-polished diamond wafers of high-quality materials utilized in numerous applications, including high-power electronics.

Report Synopsis

Report Scope Details
Market Forecast Years 2022-2028
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue (Million)
Segments Analyzed Manufacturing Process, Color, Distribution Channel, Application
Country Analyzed The United States
Companies Analyzed

Engis Corporation, Element Six, LabGems, Heyaru Engineering NV, Brilliant Earth LLC, Applied Diamond Inc, WD Lab Grown Diamonds

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • COUNTRY SNAPSHOT
      • COUNTRY ANALYSIS
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
    3. KEY ANALYTICS
      • IMPACT OF COVID-19 ON SYNTHETIC DIAMONDS MARKET
      • PESTLE ANALYSIS
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • VALUE CHAIN ANALYSIS
      • KEY BUYING CRITERIA
        • PRICE
        • CERTIFICATION
        • BRAND NAME
        • APPLICATION
    1. MARKET BY MANUFACTURING PROCESS
      • HIGH PRESSURE HIGH TEMPERATURE (HPHT)
      • CHEMICAL VAPOR DEPOSITION (CVD)
    2. MARKET BY COLOR
      • COLORED
      • COLORLESS
    3. MARKET BY DISTRIBUTION CHANNEL
      • ONLINE CHANNEL
      • OFFLINE CHANNEL
    4. MARKET BY APPLICATION
      • CONSTRUCTION
      • MINING
      • OIL & GAS
      • ELECTRONICS
      • HEALTHCARE
      • JEWELRY
      • OTHER APPLICATIONS
    5. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
      • COMPANY PROFILES
        • APPLIED DIAMOND INC
        • ELEMENT SIX
        • BRILLIANT EARTH LLC
        • ENGIS CORPORATION
        • LABGEMS
        • HEYARU ENGINEERING NV
        • WD LAB GROWN DIAMONDS

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – SYNTHETIC DIAMONDS

    TABLE 2: COMPARATIVE PRICE OF NATURAL VS SYNTHETIC DIAMOND

    TABLE 3: DIFFERENCE BETWEEN NATURAL AND SYNTHETIC DIAMONDS

    TABLE 4: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY MANUFACTURING PROCESS, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 5: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY MANUFACTURING PROCESS, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 6: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY COLOR, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 7: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY COLOR, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 8: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 9: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 10: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 11: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY APPLICATION, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 12: LIST OF MERGERS & ACQUISITIONS

    TABLE 13: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 14: LIST OF PARTNERSHIPS & AGREEMENTS   

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VENDOR LANDSCAPE

    FIGURE 5: VALUE CHAIN ANALYSIS

    FIGURE 6: KEY BUYING CRITERIA

    FIGURE 7: UNITED STATES SYNTHETIC DIAMONDS MARKET, GROWTH POTENTIAL, BY PRODUCT, IN 2021

    FIGURE 8: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY HIGH TEMPERATURE HIGH PRESSURE (HPHT), 2022-2028 (IN $ MILLION)

    FIGURE 9: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY CHEMICAL VAPOR DEPOSITION, 2022-2028 (IN $ MILLION)

    FIGURE 10: UNITED STATES SYNTHETIC DIAMONDS MARKET, GROWTH POTENTIAL, BY COLOR, IN 2021

    FIGURE 11: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY COLORED, 2022-2028 (IN $ MILLION)

    FIGURE 12: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY COLORLESS, 2022-2028 (IN $ MILLION)

    FIGURE 13: UNITED STATES SYNTHETIC DIAMONDS MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2021

    FIGURE 14: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY ONLINE CHANNEL, 2022-2028 (IN $ MILLION)

    FIGURE 15: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY OFFLINE CHANNEL, 2022-2028 (IN $ MILLION)

    FIGURE 16: UNITED STATES SYNTHETIC DIAMONDS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2021

    FIGURE 17: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY CONSTRUCTION, 2022-2028 (IN $ MILLION)

    FIGURE 18: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY MINING, 2022-2028 (IN $ MILLION)

    FIGURE 19: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY OIL & GAS, 2022-2028 (IN $ MILLION)

    FIGURE 20: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY ELECTRONICS, 2022-2028 (IN $ MILLION)

    FIGURE 21: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY HEALTHCARE, 2022-2028 (IN $ MILLION)

    FIGURE 22: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY JEWELRY, 2022-2028 (IN $ MILLION)

    FIGURE 23: UNITED STATES SYNTHETIC DIAMONDS MARKET, BY OTHER APPLICATIONS, 2022-2028 (IN $ MILLION)       

    1. MARKET BY MANUFACTURING PROCESS
      • HIGH PRESSURE HIGH TEMPERATURE (HPHT)
      • CHEMICAL VAPOR DEPOSITION (CVD)
    2. MARKET BY COLOR
      • COLORED
      • COLORLESS
    3. MARKET BY DISTRIBUTION CHANNEL
      • ONLINE CHANNEL
      • OFFLINE CHANNEL
    4. MARKET BY APPLICATION
      • CONSTRUCTION
      • MINING
      • OIL & GAS
      • ELECTRONICS
      • HEALTHCARE
      • JEWELRY
      • OTHER APPLICATIONS

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    We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.


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