Diamond Semiconductor Substrates Market – Major Factor Driving The Market Is Large Number Of Industrial Applications
A diamond is the hardest material on earth, and has long-since been recognized for its beauty as a gemstone. The major producing countries include the Democratic Republic of Congo, Australia, Botswana, Russia and South Africa. The two types of diamond semiconductor substrates available in the global diamond semiconductor substrates market are natural and synthetic. One of the major factors for this segment will be the rising usage of diamonds in sectors such as electronics, healthcare and construction among others. The other factors boosting the market are low cost of synthetic diamond as compared to natural diamond. In addition, identification of new applications in semiconductor and electronics industry is anticipated to act as an opportunity for the diamond semiconductor substrates market for the near future.
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Based on types, the diamond semiconductor substrates market is segmented into natural and synthetic. In 2015, the synthetic segment expected to be the most important market and anticipated to be the same during the forecast period. The major factor driving the market is large number of industrial applications. Some of the other factors are usage of synthetic diamond in different industries such as chip production, construction, mining activities, oil and gas industries, in surgeries and stone polishing and cutting. Thus, the specific increase in these activities has lead to an increase in the demand for the diamond semiconductor substrates market. The synthetic diamond is used in research services and for extremely rough tasks such as polishing and cutting. However, complex manufacturing process is the restraining factor for diamond semiconductor substrates market in the forecast period.
Based on the various applications, the diamond semiconductor substrates market is segmented into healthcare, consumer electronics, construction & mining, electronics and others. In 2015, the consumer electronics segment anticipated to be the foremost market. There are numerous major factors boosting the diamond semiconductor substrates market such as growing adoption of diamond semiconductor substrates in jewelry making. In addition, rising research and development activity to deliver better products in the forecast period is other factor driving the market for diamond semiconductor substrates market. However, the time consumed for making synthetic diamonds is expected to hinder the expansion of this diamond semiconductor substrates market during the forecast period of 2016 – 2024.
Based on the regions, the diamond semiconductor substrates market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific holds the major market share followed by North America. In addition, North America is the second largest market for diamond semiconductor substrates market followed by Europe and Rest of the World. China and India are the key contributors to the diamond semiconductor substrates market in Asia Pacific. Diamond semiconductor substrates is high in Asia Pacific is due to identification of new applications of synthetic diamond in electronics and semiconductor industry. However, the market for diamond semiconductor substrates has seen the growth in product improvement from companies like Pure Grown Diamonds, Applied Diamond Inc., Washington Diamonds Corporation, Element Six, and ILJIN among others nearly one hundred others company. Furthermore, opening manufacturing plants in rising country of Asia Pacific such as India, Japan and Korea among others will also give output on higher returns on investments this in turn driving the market for diamond semiconductor substrates market.
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Some of the important players in the diamond semiconductor substrates market includes are Applied Diamond Inc (The U.S.), Pure Grown Diamonds (The U.S.) and Element Six (Luxembourg). These top players are aiming to penetrate increasing economies and are adopting various methods to drive their market share. Some of the others players are New Diamond Technology LLC (The U.S.), Scio Diamond Technology Corporation (United States), Washington Diamonds Corporation (The U.S.) and ILJIN Diamond Co., Ltd (Korea) among others.