Nanodiamonds Market worth USD 371.48 Million by 2030, Registering a CAGR of 12.91%

New York, United States, June 07, 2022 (GLOBE NEWSWIRE) -- Nanodiamonds is a term which is used to describe the diamond particles so small that they are measured in terms of nanometres, or Millionths of a meter. The size of the Nanodiamonds typically ranges from 3-5 nm to 100 nm. The key factors that are spearheading the growth of the Global Nanodiamonds Market are increasing production scale of Nanodiamonds, rise in applications of Nanodiamonds in various industries like electronics, bio-medical, etc., cost-effectiveness, and its increasing demand for polishing of silicon wafers, glass & ceramics. On the basis of Applications, the Finish Polishing segment held the most significant market share of around 73.27%, with a burgeoning CAGR of 12.17%. On a regional basis, the Asia-Pacific held the highest share, with nearly 43.77% of the entire market. 

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The report laid out by Strategic Market Research on the Nanodiamonds Market is ramified based on:

Applications

• Lubricants
• Finish Polishing
• Electroplating & Anti-Wear/Friction Coatings
• Composites
• Skincare
• Supercapacitors
• Batteries
• Drug Delivery

Regions:
North America

• USA
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• Finland
• Switzerland
• France
• Russian Federation
• U.K
• Finland
• Turkey
• Netherlands 
• Belgium
• Spain
• Italy
• Rest of Europe
  
  

Asia Pacific

• China
• India
• Japan
• Indonesia
• South Korea
• Thailand
• Singapore
• Malaysia
• Philippines
• New Zealand
• Australia
• Rest of APAC

LAMEA

• Brazil
• Uruguay
• Saudi Arabia
• Argentina
• Rest of LAMEA
  
  

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Pertinent factors spearheading the Market Growth:
The large scale production of Nanodiamonds is the major factor driving the overall market growth worldwide. According to a research in 2020, it was discovered that Russia was the largest producer of Nanodiamonds in the world (24 million carats), followed by Canada (17 million carats), Botswana (13 million carats), Angola (8 million carats), South Africa (4 million carats), Republic of Congo (3 million carats), & Others (5 million carats). 

Furthermore, the rise of application of Nanodiamonds in various industries like bio-medical, electronics, etc., its cost-effectiveness, rise in need for reducing the expense of cancer research, & its increasing demand for polishing of silicon wafers, glass & ceramics are augmenting the overall market growth. In 2020, the SEMI Silicon Manufacturers Group (SMG) reported that the silicon wafer area shipments rose globally while the revenue remained unchanged from 2019 at $11,170 million. The Silicon shipments summed up to 12,407 million square inches (MSI), as compared to 11,810 MSI shipped in 2019.  

In terms of Applications, the ‘Finish Polishing’ segment held the maximum proportion of the market share.
In terms of Applications, the market is ramified into Lubricants, Finish Polishing, Electroplating & Anti-Wear/Friction Coatings, Composites, Skincare, Supercapacitors, Batteries, and Drug Delivery. The ‘Finish Polishing’ segment held the highest proportion of the market share at nearly 73.27% in 2020, with a CAGR of 12.17%. Chemical mechanical polishing (CMP) is one of the most advanced Finish polishing techniques that has recently been applied to both amorphous silicon (a-Si) and polycrystalline silicon (poly-Si) thin films. The use of CMP on these materials has been shown to improve the device performance & enable a new process of integration techniques, which in turn is driving the overall growth of this segment. The global CMP Equipment market was worth US$2 Billion in the year 2020 and is projected to reach around US$2.8 Billion by 2026, with a promising CAGR of 5.8% throughout the analysis period. In the United States, the CMP Equipment market accounted for up to US$571 Million in the year 2021. China is forecasted to reach an overall market size of US$549.9 Million by the year 2026, along with a CAGR of 8.4% during the analysis period.

The Asia Pacific region comprehensively dominated the market in 2020
The Asia-Pacific region led the market comprehensively in 2020, with a share of around 43.77% & is expected to continue its dominance with a promising CAGR throughout the estimated time frame. The rise in demand for Nanodiamonds in biomedical & automotive sectors in countries like India and China are proliferating the market growth of this region. 

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List of key players operating in the Nanodiamonds Market:
·        Carbodeon Ltd
·        Ray Techniques Ltd.
·        NanoDiamond Products Limited
·        Diacel Corporation
·        NanoTech Lubricants
·        Microdiamant
·        Beijing Grish Hitech Co. Ltd.,
·        Henan Yuxing Sino-Crystal Micron Diamond
·        Henan Union Abrasives Corp
·        Adamas Technologies
·        SINTA

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Recent Developments:

• On April 4th 2022, the researchers at the University of North Texas successfully developed a method to form ultra-uniform Nanodiamonds without the requirement of any explosives. The tiny gems are only a few nanometres wide and are very much crucial for drug delivery, quantum computer processors, and sensors.
  
  
• On January 15th 2021, a team of scientists from The University of Queensland, Osaka University, & the National University of Singapore's Faculty of Engineering conducted a testing process for tiny Nanodiamonds coated with a highly advanced heat-releasing polymer to determine the various thermal properties of cells. This work is expected to cater to a new set of heat-based treatments for destroying cancer cells and bacteria.
  
  
• On November 25th 2020, a research study was conducted McKendry group, from which it was discovered that the various quantum sensing abilities of Nanodiamonds can be used widely to improve the sensitivity range of paper-based diagnostic tests thus allowing for the earlier detection of life-threatening diseases such as HIV.
  
  

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