The global industrial diamond market is expected to exhibit a growth rate (CAGR) of 2.7% during 2023-2028.
Diamonds that do not qualify the gem-quality standards of clarity, color, shape and size are used for various industrial purposes. They are the strongest and hardest naturally occurring substances with high chemical, electrical, optical and thermal conductivity. Nowadays, synthetically produced diamonds are preferred worldwide as they can be manufactured in huge quantities and customized according to different applications. For instance, diamond particles with a polycrystalline intergrown textured and friability degree are utilized in resin bonded grinding wheels. On the other hand, metal-bonded saws and drills require diamond particles with robust, single and blocky crystals.
A significant rise in the market growth can be attributed to the growing automotive industry that extensively relies on industrial diamonds for machining abrasive alloys and cast iron. They are also required for grinding, drilling, and polishing hard materials like stones. This, along with the increasing construction activities, is influencing the market growth. Furthermore, industrial diamonds are employed in the electronics industry for polishing silicon wafers, dissipating heat in electrical circuits and producing computer chips, wire drawing and disk drives. Apart from this, they are widely used to enhance wear and corrosion resistance in coatings. The increasing oil and gas exploration projects are providing lucrative opportunities to manufacturers for expanding their overall sales. Moreover, as industrial diamonds are cost-effective compared to other abrasives, their demand is anticipated to escalate in special lenses for laser radiation equipment, machinery manufacturing, and modern metalworking around the world.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial diamond market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.
Breakup by Type:
- Natural Industrial Diamond
- Synthetic Industrial Diamond
Breakup by Application:
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ALROSA, Applied Diamond Inc., De Beers Group (Anglo American Plc), Hebei Plasma Diamond Technology Co. Ltd., Heyaru Engineering Pvt. Ltd., Iljin Diamond Co. Ltd., Industrial Abrasives Ltd., Industrial Diamond Laboratories Inc., Morgan Advanced Materials, Schlumberger N.V. and Worldwide Diamond Manufacturers Pvt. Ltd.
|Base Year of the Analysis
||Type, Application, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ALROSA, Applied Diamond Inc., De Beers Group (Anglo American Plc), Hebei Plasma Diamond Technology Co. Ltd., Heyaru Engineering Pvt. Ltd., Iljin Diamond Co. Ltd., Industrial Abrasives Ltd., Industrial Diamond Laboratories Inc., Morgan Advanced Materials, Schlumberger N.V. and Worldwide Diamond Manufacturers Pvt. Ltd.
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Key Questions Answered in This Report:
- How has the global industrial diamond market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global industrial diamond market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global industrial diamond market and who are the key players?
- What is the degree of competition in the industry?