Newark, Feb. 20, 2023 (GLOBE NEWSWIRE) -- The Polycrystalline diamond market was estimated at around 802.1 million in 2021, growing at a CAGR of nearly 5.9% during 2022-2030. The market is projected to reach approximately USD 1301.8 million by 2030.
Dental tools including drills, grinders, and brushes can be polished to a high shine using polycrystalline diamond, which has proven to be particularly effective. The need for diamond slurry is only expected to rise further due to the strong demand for semiconductors in electronic devices and the rising trend of compact electronics. Lapping, polishing, and planarization of semiconductors and integrated circuits frequently involve the use of diamond slurry. CMP is necessary to achieve the anticipated planarity of the deposited layers and the substrate in integrated circuits made utilising thin film deposition and lithography.
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The majority of electronic equipment, including servers, automobiles, consumer & industrial electronics, etc., require semiconductors to control the flow of electricity. The production of electrical devices, such as silicon wafers, barrier metal films, disk-drive components, optical substrates, and others, requires the use of diamond slurry. The crystal's purity and the structure's degree of defect-freeness are what determine how good a wafer is. Wafers are lapped to remove surface flaws on both sides. Apple, a major player in the smartphone market, employs diamond slurry to polish and clean its mobile gadgets and wristwatches. The need for diamond lapping and polishing slurry will be supported by ongoing innovation in the semiconductor sector.
Growth Factors
The need for diamond tools in the stone processing industry will rise as a result of increased urbanisation, investment, government spending, and consumer spending, which will lead to a growth in infrastructure development for the building and construction industry in this region. The global trend toward more advanced auto and machinery industries has led to an increase in the market for diamond tools. Diamond tool imports and exports have also increased significantly over time.
The use of these tools for treating a variety of hard and soft metals is increasing as a result of diamond's high strength and wear resistance. The growth of the market for diamond tools in the stone processing industry is being constrained by environmental concerns over the disposal of waste produced in these processes.
There is a huge market for the fine polishing of these materials. A crucial stage in optical manufacturing is polishing, which removes all surface damage and allows for fine-tuning of the surface figure, roughness, imperfections, and surface quality. The target market will be driven by the expanding optics and photonics industry as a result of its expanded application in everyday materials.
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Segmental Overview
Due to its use in the polishing of hard metals and their alloys, such as ceramics, sapphire substrates, tantalum carbide substrates, precision optics, compound crystals, metal workpieces & gemstones, and diamonds, polycrystalline is the most extensively used diamond slurry. Shortening the processing time, the equally dispersed diamond particles offer a superior grinding surface. Due to less subsurface damage, the microcrystals in polycrystalline diamond slurry offer a superior polish.By type, PCD Milling Tools will dominate the market in upcoming years. By application, automotive segment will dominate the market.
Regional Overview
Throughout the projected period, Asia-Pacific is anticipated to have the largest revenue market share. Due to the region's growing globalization and urbanization, Asia Pacific held the top spot in the global market for mono Polycrystalline Diamond in 2019. In 2016, the biggest market for industrial diamonds was North America. Mining, oil & gas, electronics, and the automotive industries made up the majority of the end-use industries for industrial diamonds in the area. One of the key factors propelling the expansion of the industrial diamond industry is the United States' increasing shale oil and gas production. In June 2018, the U.S. shale plays produced about 7.2 million bpd of shale oil, according to the U.S. Energy Information Administration. The U.S. Geological Survey estimates that 125 million carats of industrial diamonds were produced in the U.S. in 2015. Although imports from China satisfied a large portion of the nation's demand. According to the, China's industrial diamond production in 2016 was estimated to be 4 billion carats. During the projected period, the Middle East and Africa market is anticipated to grow at a healthy pace.
Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| Polycrystalline Diamond Market CAGR | 5.9% |
| Segments Covered | By Type By Application |
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List of the prominent players in the Global Polycrystalline Diamond market:
• Sandvik Group
• Mapal
• Kennametal
• Preziss Tool
• Wirutex
• Ceratizat
• Sumitomo Electric
• Kyocera
• Mitsubishi Materials
• Union Tool
The global Polycrystalline Diamond market is segmented as follows:
By Type
• PCD Milling Tools
• PCD Turning Tools
• Others
By Application
• Automotive
• Aerospace
• Others
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Egypt
o Kuwait
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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