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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.Â
COVID-19 Scenario Analysis:Â
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 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.Â
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.
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:
Questions Answered in Moissanite Market Research Report:
Moissanite Market Report Highlights
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Key Market Players | Moissanite International, Unimoss, Amora, America Cree, Transgems and C3., Wholesale Moissanite, HRB Exports, Wuzhou Changsheng Gems, Stars Gem, Viktor K mmerling, Charles & Colvard |
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