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The Asia Pacific region had the largest global share due to the supply of cheaper land and low labour costs. China is the world's largest manufacturer of synthetic diamonds, and it is expected to keep its lead in the industry. The industrial diamond industry is expected to be driven by the resurgence of the construction sector in industrialised economies such as North America as well as in developing Asia Pacific economies. Industrial diamonds can be used as heat sinks in electronic thermal management operations and find use as catalysts in the chemical industry, abrasive in the construction, automotive, aerospace, and defence industries. Synthetic or laboratory-grown materials have a much higher presence in industrial applications. It is primarily used as an abrasive and has demand in industries such as metal machining, mining, and exploratory drilling. It is mostly used in building applications such as hand sawing, wire sawing, and coring. The expansion of construction activities in developed countries should help the segment expand.
Hyperion Materials & Technologies is a company headquartered in the United States of America, which is known for advanced materials for mainly industrial applications. It announced the acquisition of NanoDiamond Products, a company known for providing solutions in synthetic diamonds, in January 2021, strengthening the company's synthetic diamond portfolio.
Market Analysis by Manufacturing Process, Form, Product Type, Application, and Major Regions:
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The major players in the global synthetic industrial diamonds market are Henan Huanghe Whirlwind Co., Ltd, Zhengzhou Zhongnan Jete Superabrasives Co., Ltd, Element Six (UK) Ltd, Sumitomo Electric Industries, Ltd., and Iljin Diamond Co. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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