December 21, 2018: Adroit Market Research today published a study on the “Global Nanodiamonds Market Size 2017 By Application (Finish Polishing, Electroplating, Oil Compounds, and Others), By Region and Forecast 2018 to 2025 nanodiamonds market size”. The report covers the current scenario and the assessment of economic prospects of the global nanodiamonds market trends based on ongoing developments. The report details global nanodiamonds market share applications as well as focusses on is its demand in key geographies. The report also covers the detailed analysis of the global production volume of nanodiamonds as well as company profiles of key manufacturers.
The global nanodiamonds market size is projected to surpass USD 140 million by 2025, driven by its enhanced demand in the biomedical industry. Nanodiamonds witness a wide range of applications in tribology, drug delivery, bioimaging, tissue engineering applications as well as a filler material in composites.
Upcoming applications of nanodiamonds in electronic & polymer industry, chemical industry, primarily for styrene production is expected to offer lucrative opportunities for market growth in coming years. Extensive research is being undertaken by institutes to incorporate nanodiamonds in biomedical applications which are expected to open new opportunities for growth of the market over the next few years. In addition, ongoing nanodiamonds market trends such as change-transfer catalyst, laser-initiating explosives, sintering compacts, plasma-sprayed metal-diamond coatings, precursors for CVD, and hydrogen power engineering is expected to propel the growth over the next decade.
In 2017, finish polishing application segment is expected to surpass 70% of the global nanodiamonds market share. The high surface area of nanodiamonds and the micro-rough surface particle makes nanodiamonds ideal for surface coatings and for super fine polishing applications.
Europe nanodiamonds market was valued at USD 3.1 million in 2017 and is projected to grow steadily throughout the forecast period, 2018 to 2025. Nanodiamonds were first synthesized in the Soviet Union. Since then, nanodiamonds have gained commercial popularity in the last decade, opening opportunities within various industrial processes. Lubricants, coatings, and abrasives are some of the popular uses of nanodiamonds. Presence of large manufacturing sector in Eastern Europe has resulted in the setup of numerous nanodiamond vendors in the region.
The shift of production bases from Europe to Asia Pacific owing to lower manufacturing cost has resulted in a declining demand in this region over the last decade. However, the market is expected to regain over the next few years owing to the rebounding manufacturing sector, particularly in Germany, and Turkey. On the other hand, Asia Pacific currently is the largest producer and consumer of nanodiamonds. China, Japan, and India are to exhibit the fastest growth on account of a large consumer base in these countries. Besides China, India and Japan have also established themselves as key manufacturers within Asia Pacific despite their relatively minute shares. The growth of the electronics, automotive, and healthcare industries in the region are expected to result in substantial domestic demand. Nonetheless, huge capabilities of manufacturing nanodiamonds have resulted in the region establishing itself as the largest exporter over the past few years.
The global nanodiamonds market size is also impacted by the presence of a limited number of manufacturers, of with majority are small-scale players. Low-profit margins with complex technology of manufacturing have resulted in the lesser advent of manufacturers in this sector, globally. Some of leading players boosting the nanodiamonds market size include Henan Yuxing Sino-Crystal Micron Diamond, Diacel Corporation, Beijing Grish Hitech Co., Ltd., Henan Union Abrasives Corp, and Adamas Technologies.
Key segments of the global nanodiamonds market
Application Overview, 2015-2025 (Kilos, USD Million)
- Finish polishing
- Oil compounds
Regional Overview, 2015-2025 (Kilos, USD Million)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC