Synthetic Diamond Market Forecast to Surpass USD 27.73 Billion in 2025, Driven by Rising Industrial Demand

The Synthetic Diamond Market [https://www.coherentmarketinsights.com/market-insight/synthetic-diamond-market-5386] is estimated to be valued at USD 27.73 Bn in 2025 and is expected to reach USD 44.53 Bn in 2032, exhibiting a compound annual growth rate (CAGR) of 7.0% from 2025 to 2032. Increasing disposable incomes and rapid industrialization are anticipated to fuel the expansion of the global synthetic diamond market in the coming years. The flourishing fashion industry is projected to open lucrative opportunities, while the rising demand for super-abrasives is further expected to accelerate market growth.

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Global Synthetic Diamond Market Key Takeaways

According to Coherent Market Insights (CMI), the global synthetic diamond market size is slated to expand at a CAGR of 7% during the assessment period, reaching USD 27.73 Bn in 2025 and USD 44.53 Bn by 2032.

Polished synthetic diamonds are expected to remain the top-selling type, accounting for 65% of the global synthetic diamond market share in 2025.

Chemical vapour deposition is the most widely used method for synthetic diamond production, holding a prominent industry share.

North America is projected to be the market leader, accounting for two-fifths of the global synthetic diamond industry share in 2025.

Asia Pacific synthetic diamond industry is anticipated to experience fastest growth during the projection period.

Growing Industrial Demand Fueling Synthetic Diamond Market Growth

Coherent Market Insights' latest synthetic diamond market report highlights prominent factors driving industry growth. Expanding industrial applications of synthetic diamonds is one such major growth driver.

Synthetic diamonds are being increasingly used in cutting, grinding, drilling, and polishing tools across various industries. This is due to their advantages, such as consistent quality, low cost, easy availability, and reduced environmental impact compared to mined diamonds.

Many industries are shifting their preference towards synthetic diamond-based tools. For instance, polycrystalline diamond (PCD) cutting tools are employed for machining hard metals like titanium and tungsten carbide.

Similarly, synthetic diamonds are replacing natural diamonds in drilling applications. They are being widely used in mining and oil exploration owing to their ability to withstand extreme conditions. These expanding applications across automotive, aerospace, electronics, and tool-making industries are expected to boost the synthetic diamond market growth.

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Natural Diamond Preference Challenging Market Growth

The future synthetic diamond market outlook looks bright. However, consumer preference for natural diamonds due to their perceived rarity and value continues to pose a challenge to widespread market expansion.

Despite being more affordable and sustainable, synthetic diamonds still face resistance from traditional jewelers and buyers who view natural stones as more authentic and prestigious. This might dampen synthetic diamond market demand during the forthcoming period.

Increasing Synthetic Diamond Usage in Jewlery Sector Creating Growth Opportunities

Consumers are increasingly recognizing the ethical, sustainable, and cost-effective benefits of synthetic diamonds. This growing awareness is driving the acceptance of lab-grown diamond jewelry and opening new revenue streams for manufacturers and retailers.

The jewelry industry is undergoing a rapid transformation, ignited by growing environmental and ethical concerns. At the very heart of this transformation is synthetic diamonds. These lab-grown diamonds are becoming sustainable and ethical alternatives.

Synthetic diamond jewelry is gaining wider popularity, especially among eco-conscious customers. Its appeal lies in its minimal environmental impact, traceable origins, and lower cost compared to natural diamonds.

A large portion of the world's population prioritizes lab-grown diamond jewelry as it causes very little harm to the environment as compared to mined diamonds. This growing acceptance of lab-grown diamonds is expected to unlock growth opportunities for synthetic diamond companies.

Impact of AI on the Synthetic Diamond Market

Artificial intelligence (AI) is significantly transforming the synthetic diamond industry. This advanced technology helps companies optimize production processes, enhance quality control, and accelerate research and development.

AI-driven technologies like machine learning and computer vision are being used to monitor diamond growth conditions in real time. This helps to ensure higher precision and fewer defects.

Similarly, AI is streamlining grading and sorting processes, leading to improved efficiency and consistency. These advancements reduce operational costs as well as enable manufacturers to meet the rising demand for high-quality synthetic diamonds across industrial and jewelry applications.

Emerging Synthetic Diamond Market Trends

Global shift towards sustainable alternatives is a key growth-shaping trend in the synthetic diamond market. There is a growing emphasis on reducing environmental exploitation due to diamond mining. This is putting synthetic diamonds into the limelight, leading to their increased acceptance.

Adoption of synthetic diamonds in electronics is increasing rapidly due to growing demand for faster and more efficient electronics. These lab-grown diamonds offer excellent thermal conductivity and electrical insulation. Growing integration of synthetic diamonds in the electronics sector is expected to significantly boost market growth during the projection period.

Advancements in manufacturing technologies like high-pressure high-temperature (HPHT) and chemical vapour deposition (CVD) are revolutionizing the synthetic diamond industry. These innovations are enabling mass production, reducing manufacturing costs, and improving the quality and consistency of synthetic diamonds.

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Analyst's View

"The global synthetic diamond industry is poised for significant growth, owing to rising consumer acceptance of lab-grown alternatives, expanding industrial applications, and continuous advancements in manufacturing technologies such as CVD and HPHT ," said Vidyesh Swar, a senior analyst at CMI.

Current Events and Their Impact on the Synthetic Diamond Market

Event

Description and Impact

G7 Ban on Russian Diamonds and Traceability Requirements (2024-2025)

* Description: In January 2024, the G7 formally implemented a phased ban on Russian diamonds.

* Impact: Synthetic diamonds are increasingly filling the gap, especially in the U.S. and European luxury segments.

China's Scaling of CVD Diamond Production

* Description: Chinese firms like Zhongnan Diamond and Henan Huanghe Whirlwind have significantly scaled up Chemical Vapor Deposition (CVD) output in 2025, enabled by automation and AI-integrated reactors.

* Impact: This has significantly reduced global average production costs of lab-grown diamonds, making synthetic diamonds more affordable for both industrial and jewelry applications.

Consumer Shift Toward Sustainable and Transparent Luxury (2025)

* Description: Gen Z and millennial buyers are prioritizing sustainability, traceability, and ethical sourcing, prompting luxury brands like Pandora and Brilliant Earth to expand their lab-grown diamond lines.

* Impact: Synthetic diamonds are moving from a niche category to mainstream adoption in fine jewelry.

Competitor Insights

Key companies listed in the synthetic diamond market research report:

- Applied Diamond Inc.

- Adamas One Corp.

- Element Six UK Ltd

- ILJIN Diamond Co. Ltd

- Sumitomo Electric Industries Ltd

- Henan Huanghe Whirlwind Co. Ltd

- Pure Grown

- New Diamond Technology

- Zhengzhou Sino-Crystal Diamond Co.

- Swarovski

- Zhongnan Diamond Co. Ltd

- Diamonds (PGD)

Key Developments

In July 2025, LongRange Capital completed its acquisition of US Synthetic Corporation. This acquisition is expected to bolster LongRange's position in the engineered polycrystalline diamond (PCD) technology sector.

In January 2025, Element Six unveiled a new Cu-diamond product at Photonics West 2025. The new product is a copper-plated diamond composite material having high electrical and thermal conductivity.

Market Segmentation

* Global Synthetic Diamond Market, By Type

* Polished

* Jewelry
* Electronics
* Healthcare
* Other Polished Types

* Rough

* Construction
* Mining
* Oil and Gas
* Other Rough Types

* Global Synthetic Diamond Market, By Manufacturing Process

* High Pressure, High Temperature (HPHT)
* Chemical Vapor Deposition (CVD)

* Global Synthetic Diamond Market, By Geography

* North America

* U.S.
* Canada

* Latin America

* Brazil
* Argentina
* Mexico
* Rest of Latin America

* Europe

* Germany
* U.K.
* Spain
* France
* Italy
* Russia
* Rest of Europe

* Asia Pacific

* China
* India
* Japan
* Australia
* South Korea
* ASEAN
* Rest of Asia Pacific

* Middle East

* GCC Countries
* Israel
* Rest of Middle East

* Africa

* South Africa
* North Africa
* Central Africa

About Us:

Coherent Market Insights leads into data and analytics, audience measurement, consumer behaviors, and market trend analysis. From shorter dispatch to in-depth insights, CMI has exceled in offering research, analytics, and consumer-focused shifts for nearly a decade. With cutting-edge syndicated tools and custom-made research services, we empower businesses to move in the direction of growth. We are multifunctional in our work scope and have 450+ seasoned consultants, analysts, and researchers across 26+ industries spread out in 32+ countries.

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