Moissanite is silicone carbide in its crystalline form. It possesses excellent hardness, optical properties, and thermal conductivity. Moissanite occurs naturally. Also, it can be synthetically prepared. The natural form is scarce and hence, a majority of moissanite used is synthetically prepared.

Moissanite primarily occurs in kimberlite igneous rock found in South Africa. Meteorites are also known to contain moissanite. The naturally occurring form is difficult to facet and hence, it is not preferred in gemological applications. Moissanite has very high resistance to pressure and it has optical properties similar to those of diamond. It is, therefore, largely considered as an alternative to diamond. Moissanite is available in green, yellow and blue colors.

Based on source, the moissanite market can be classified into natural and synthetic. In terms of application, the moissanite market can be classified into jewelry and others. In jewelry, moissanite is used as a substitute for diamond in rings, earrings, bracelets, and pendants.

It is preferred over other alternatives for diamond, as it does not exhibit yellowing over a period of time. Electronic devices containing moissanite (silicone carbide) are employed in protection circuits of motors, energy storage systems, and actuators. Moissanite is used in turbine blades, crucibles, and furnaces, wherein chemical resistance as well as temperature resistance are desired.

Geographically, the global moissanite market has been segmented into five major regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The global moissanite market is expected to witness significant growth during the forecast period. North America is the largest region for moissanite market.

The region is estimated to witness the highest increase in the demand for moissanite across the world during the forecast period. Asia Pacific is another significant consumer of moissanite. Europe witnesses moderate consumption of moissanite, while Middle East & Africa and Latin America witness no significant consumption.

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