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The global industrial diamond market grew at a CAGR of around 4% during 2015-2020. 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. Looking forward, IMARC Group expects the global industrial diamond market to exhibit moderate growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial diamond market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type and application.
Breakup by Type:
Breakup by Application:
Breakup by Region:
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.
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