Synthetic Gems and Minerals
Worldwide sales of synthetic gems and crystals were about $6.2 billion in 2002.
By 2007, sales are projected to rise at an average annual growth rate (AAGR) of 12.7% to reach $11.3 billion.
Synthetic industrial crystals accounted for 85% of total sales in 2002.
Sales of synthetic industrial crystals will grow faster than precious and semiprecious gems.
Synthetic gems such as diamonds, sapphires, rubies, garnets, emeralds, alexandrite, amethyst, and spinel are precious and semiprecious stones with applications for industry as well as jewelry. Industrial crystals, as the term implies, are used mainly in industry. Examples include quartz, mica and fluorspar. In this comprehensive report, BCC covers the global market for synthetic gems and industrial crystals.
Synthetic gems and industrial crystals are a major global industry. However, their importance goes beyond their dollar sales, if their technological impact is considered. Synthetic gems and crystals offer significant advantages over naturally occurring substances for many industrial applications. These advantages include lower cost and the possibility of manufacturing them to the exact size, and other specifications, required for a particular application.
It has been said that for every automobile that rolls off the assembly lines, one and a half carats of industrial diamond are consumed. Whether or not this figure is accurate, it is indicative of the small, but vital, input contributed by synthetic gems and crystals to almost every modern industry. However, because the market is widely dispersed throughout the economy, and not adequately covered in standard statistical publications, it is important to develop an up-to-date base of market information about these products. Much has changed since BCC last studied this area five years ago.
In addition to looking at future and current markets for synthetic gems and industrial crystals, the study analyzes the underlying technological, environmental, legal/regulatory and political trends that may influence the size and nature of the market. BCC also provides an analysis of the synthetic gems and crystals industry and markets by type of stone, properties, applications and world region. The future of synthetic gems and industrial crystals is discussed, with forecasts of the use and availability of specific products, including new technologies.
SCOPE OF STUDY
The report is organized around the following topics:
- Major types and applications of synthetic gems and industrial crystals
- Industry structure, competition, and market shares
- Market size and segmentation, including sales, applications, and geographical markets
- Market drivers
- Detailed market projections through 2007
- The future of the synthetic gems and crystals industry.