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The natural single crystal diamond is white in color and is produced as a pure carbon within the earth's crust under intense heat and pressure conditions. The cube, octahedron, and rhombic dodecahedron are types of natural single crystal diamond. The flawless edges of natural single crystal diamond, make it an indispensable tool for the machining of challenging materials which include silicone, aluminium alloys, germanium, plastics, and nickel. Furthermore, it provides the best thermal conductivity, high stiffness, considerable wear-resistance, and extreme hardness. These properties surge the demand for natural single crystal diamond in the construction, machinery & electronics, and geological mining.
The rapidly growing construction sector will fuel the demand for natural single crystal diamond during the review period. The properties of natural single crystal diamond such as extreme hardness and high stiffness make it a preferred choice in the construction sectors. It is mainly used for cutting, drilling, polishing, and grinding purposes. Furthermore, as a substrate plate, the natural single crystal diamond is used for the growth of chemical vapor deposition (CVD) diamond.
However, the natural single crystal diamond is highly expensive and also rarely found. This reduces the use of adoption of product and raise the need for synthetic single-crystal diamonds. Hence, it is anticipated to hamper the market growth.
Key Market Driver -
Rising demand for natural single crystal diamond in the CVD and construction sector to drive the market growth
Key Market Restraint -
High price of the natural single crystal diamond to restrict the market growth
Based on type, the natural single crystal diamond market is segmented into cube, octahedron, and rhombic dodecahedron. Based on application, the market is segmented into construction, electronics, metal machining, geological mining, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the natural single crystal diamond market includes Reade International Corp., K&Y Diamond, Element Six Technologies US Corporation, ALROSA Group, and DeBeers.
Asia Pacific is anticipated to witness sustainable growth in the natural single crystal diamond market during the forecast period. The rapidly growing construction sector has surged the product demand in drilling and cutting. The growth in Europe is attributed to the rising demand for natural single crystal diamond in the metal machining. The rising product demand in geological mining will fuel the market in North America, in which the US is the leading country. The Middle East & Africa is anticipated to witness significant growth, owing to the increasing adoption of the product in the machinery and electronics.
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