Industrial Diamond Market Report

Industrial Diamond Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Format: PDF  |  Report ID: GVR2489

Global industrial diamond market was worth over USD 20 billion in 2014. The U.S. and Africa are major diamond producers and account for majority of the share in the market. 40% of the overall materials produced are in the form of diamond powder, which is priced in the range of USD 4,500 to USD 7,500 per kg.

Increasing demand for abrasives in major end-use industries is expected to drive the overall market demand. Synthetic industrial diamonds are preferred over natural forms as their physical properties can be customized as per requirement. Surge in demand for industrial diamonds is balanced by the enormous supply of synthetic diamonds.

Industrial diamonds are mainly used as cutting, grinding, polishing, and lapping tool. Diamonds used in ornaments are verified on the basis of the cut and color, whereas these products are valued on the basis of their strength, resistibility towards heat & corrosion, and conductivity towards thermal energy.

Industrial diamond covers over 80% of the overall diamond industry. These diamonds are used in manufacturing electronic goods such as flat screens, medical equipment, and production of abrasive. It is mostly used in the form of nanoparticles in the industry. Production of abrasive controls the global requirement of industrial diamond. This trend is estimated to carry on in future.

Industrial diamond industry strength is highly dependent on the global economy. Volatile prices may have negative impact on the overall market pricing. Recession in developed countries resulted in direct decline of diamond prices in 2009. Synthetic industrial diamonds producers frequently witness political conflict in regions across the globe. African mines are the most problematic areas where the producers face problem.

Regional politics hampers the market penetration of foreign companies. Botswana GDP is highly dependent on the diamond industry. It accounts for over 30% of the overall GDP in 2014. Increasing demand for synthetic diamonds in the industries is expected to cause major hindrance to the natural diamond producers.

Naturally extracted industrial diamonds come in the form of boart, ballas, and black diamond. However, synthetic industrial diamond is expected to witness significant growth over the forecast period. Nanodiamonds are gaining attraction from the consumers over the recent past. They are highly used in industries such as polymers, lubricants, and biosensors. Emergence of nanodiamonds usage in medical applications is expected to benefit overall market growth and is also expected to create lucrative opportunities for market participants.

Asia Pacific industrial diamond market accounted for the lion share of the global revenue generated in 2014. Presence of mines in numerous countries in this region benefits the overall market consumption. China held over 90% of the total revenue generated in Asia Pacific. Industrialization growth benefited the regional revenue.

Rising disposable income, increase in GDP, and growing manufacturing investments in China, India, and South East Asian countries are expected to drive the overall market demand. North America accounted for a significant share in the global industrial diamonds industry and is expected to grow at a moderate pace over the next seven years. The U.S. plays an important role in the market and produces significant volume in the global scenario. Africa has numerous mines or reserves, which supply ample amount of industrial diamond in the market.

Major business players in the global industry include Applied Diamond Inc., Advanced Diamond Solutions Inc., Industrial Abrasives Limited, Diamond Technologies Inc., Novatek, Morgan Technical Ceramics Diamonex, Sumitomo Electric Scio Diamond Technology Corporation, Worldwide Diamond Manufacturers Pvt. Ltd., and Hebei Plasma Diamond. Improved technology and penetration of nanoscience in novel applications are expected to help the industry participants to gain competitive advantage over their competitors.

 

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