September 6, 2021 09:03 ET | Source: ReportLinker ReportLinker

New York, September 6, 2021 (GLOBE NEWSWIRE) - Reportlinker.com announced the release of the report "Synthetic Diamond Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)"-https:// www.reportlinker .com/p06134951/?utm_source=GNW Synthetic diamonds are mainly used in the construction industry. Taking into account the pandemic, construction activities were temporarily suspended during the blockade. As a result, this has led to a reduction in the demand for synthetic diamond cutting, grinding and saw blades, which has a negative impact on the market's demand for synthetic diamond. In the short term, the growing demand for super abrasives for grinding, cutting, dressing and drilling tools is expected to drive market growth. Consumers’ perceptions of raw diamonds and the adverse conditions resulting from the impact of COVID-19 are factors hindering market growth. Due to the rapid growth of electronics manufacturing in countries such as China, India, and Japan, the Asia-Pacific region dominates the global synthetic diamond market. Major market trends The electronics industry's growing demand for polished diamonds. The use of synthetic diamonds in the electronics industry has been increasing because they can act as heat sinks. Synthetic diamond can prevent silicon and other semiconductor materials from overheating, so it has become a key heating technology. During the forecast period, demand is expected to increase as semiconductors are increasingly embedded in the ever-increasing number of products from cars to coffee machines and emerging technologies such as artificial intelligence, virtual reality, and the Internet of Things (IoT)). The heat dissipation capacity of synthetic diamond is unparalleled. When used as a semiconductor, synthetic diamond is used to make smaller, more powerful electronic products, thereby increasing its use in radio frequency (RF) and power device types. In addition, due to the high refractive index of diamond, it is used for telecommunications information transmission because it minimizes information loss during high-level security signal transmission. It also increases the transmission capacity. Over the years, due to the growing demand for mobile phones, portable computing devices, gaming systems and other personal electronic devices, the global consumer electronics industry has flourished globally, which in turn has driven the demand for semiconductors and promoted the growth of synthetic diamonds. Market demand in semiconductor applications. During the forecast period, the increasing use of semiconductors by various end users is expected to drive the demand for synthetic diamonds in the electronics industry. The Asia-Pacific region dominates the market. The Asia-Pacific region dominates the global market share. Due to the high manufacturing activities of many end-user industries in the country, synthetic diamonds have a huge market in China. Chinese electronics manufacturers are experimenting with smart manufacturing and upgrading to high-end manufacturing. In addition to China, the ASEAN region is the largest exporter of electronic products, accounting for about 25% of the region's total exports of goods. Japan has also made significant contributions to the electronics and IT industries. The output value of Japanese electronics and IT industry in 2020 is about 327 billion U.S. dollars, and it is expected to reach about 340 billion U.S. dollars in 2021, a growth rate of about 4%, which will stimulate the demand for synthetic diamonds in the market. Synthetic diamonds are widely used in the stone and construction industries. They are used in cutting blade solutions for all abrasive surfaces. Other applications of synthetic diamond in the construction industry include sawing, cutting, grinding, continuous wall cutting, tunnel boring, etc. China’s healthcare industry is the second largest industry in the world after the United States, with revenue of 1.1 trillion U.S. dollars in 2019. It is estimated that by 2030, China will account for 25% of the global healthcare industry’s revenue share, which is expected to increase the impact of medical applications on synthesis. The demand for diamonds. China's medical device market is one of the fastest growing market sectors. The number of private hospitals in China is relatively small, and the procurement of healthcare products is mainly driven by large public hospitals, which has led to an increase in the use of medical equipment in public hospitals. This factor has driven the industry’s demand for synthetic diamonds. In addition, the total amount of new construction in Japan in 2019 was approximately 127.55 million square meters, and in 2020 it will reach approximately 113.74 million square meters, a decrease of approximately 10.5%, resulting in a reduction in construction. Consumption of synthetic diamonds used in the industry. Therefore, the above factors are expected to have a significant impact on the market in the next few years. Competitive landscape The synthetic diamond market is highly fragmented, and various large, medium and small enterprises are focusing on research and innovation to meet the growing demand. The market is demand-oriented, therefore, the manufacture of products depends on the specifications of the end-user industry. Some of the major players in the market include British Element Six Co., Ltd., Sumitomo Electric Industries Co., Ltd., Zhongnan Diamond Co., Ltd., Henan Yellow River Cyclone Co., Ltd. and Zhengzhou Zhongjing Diamond Co., Ltd., etc. Reasons for buying this report: Market Estimates (ME) in Excel format Table 3 months of analyst support Read the full report: https://www.reportlinker.com/p06134951/?utm_source=GNW About Reportlinker ReportLinker is award-winning Market research solutions. Reportlinker finds and organizes the latest industry data so you can get all the market research you need instantly in one place. __________________________