The moissanite market is experiencing significant growth on a global scale and is expected to grow consistently in the years to come. Moissanite is a normally occurring silicon carbide and its different crystalline polymorphs. It has chemical equation SiC and is a rare mineral, which was discovered by the French chemist Henri Moissan in 1893. Silicon carbide is valuable for commercial and industrial applications, owing to its hardness, optical properties, and thermal conductivity. Moissanite is respected as a diamond alternative, with a few optical properties surpassing those of diamond. It is marketed as a lower-priced alternative to diamond that also claims less exploitative mining practices. Rise in demand for other precious stones and surge in use of industrial applications drive the moissanite market growth during the forecast period.
COVID-19 Scenario Analysis:
- Owing to the COVID-19 outbreak, the demand for moissanite has witnessed a low in the market, closure of jewelry stores in the lockdown period impacts inconsistent growth of the bra market at a global level.
- The lockdown has impacted manpower and resource availability, which has affected scale of production in the moissanite industry.
- Due to restrictions on transport, the supply channel system of the moissanite market has been affected.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increase in disposable income and rise in trend of precious stones and jewelry as a status symbol are appealing to consumers and attracting them toward choosing a premium product. Diamond is a precious stone and cost is expensive than any other stones, moissanite is used as a substitute for diamond in rings, earrings, bracelets, and pendants. These following factors drive the market growth at a global level. As some of its properties are quite similar to diamonds, moissanite can be used for scams, which hampers growth of the market. Market players are bringing in innovations in products using technology advancements and design enhancements to keep the demand constant.
The global moissanite market trends are as follows:
New product launches to flourish the market
New products that contain improved capabilities have been launched by leading market players. They have been focusing on market developments and trends, in terms of advancements of manufacturing process and increase in product lines as per diverse consumer demands.
Moissanite occurs as a silicon carbide and is used in creation of LED light bulbs. CREE Inc, a company that makes gem grade raw moissanite crystals for Charles & Colvard, is one of the world leaders in LED light manufacturing and research and development.
Regional insights
North America is anticipated to hold the largest market share of the moissanite market, in terms of sales and growth. Increase in demand for moissanite products as a diamond and rise in disposable income is the key growth factor for the moissanite market.
Key Benefits of the Report:
- This study presents the analytical depiction of the moissanite market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global moissanite market share.
- The current market is quantitatively analyzed to highlight the global Moissanite market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global moissanite market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in Moissanite Market Research Report:
- Who are the leading market players active in the moissanite market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the moissanite market?
- What are the projections for the future that would help in taking further strategic steps?
Moissanite Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Application |
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 By Region |
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 Key Market Players | Stars Gem, Moissanite International, Wuzhou Changsheng Gems, HRB Exports, Transgems and C3., America Cree, Charles & Colvard, Amora, Unimoss, Viktor K mmerling, Wholesale Moissanite |
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