The Business Research Company’s report on the Industrial Diamond Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the industrial diamond market further?
The rapid growth of the automotive industry is driving the growth of the industrial diamond market. The automotive industry refers to a broad spectrum of businesses engaged in producing, developing, developing, designing, marketing, and distributing motor vehicles, towing vehicles, and mopeds. Industrial diamond has proven to be more cost-effective in many industrial operations than other abrasives because it cuts quicker and lasts longer. In the automotive industry, abrasives are used for frame cutting, edge chamfering, cutting, shaping, forming, and weld removal. Thus, the rising automotive industry will propel the sales growth of industrial diamonds. For instance, in 2023, according to the Organisation Internationale des Constructeurs automobiles (OICA), a France-based international association of automobile manufacturers, the global automotive industry in 2023 experienced notable growth, with total vehicle production reaching 93546599 units, a significant increase from the 85016728 units produced in 2022. Therefore, the rapid growth of the automotive industry is driving the growth of the industrial diamond market.
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What are the key factors influencing the forecasted market size of the industrial diamond industry?
The industrial diamond market size has grown steadily in recent years. It will grow from $2.12 billion in 2024 to $2.18 billion in 2025 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to industrial applications development, emergence of synthetic diamonds, expanding consumer electronics industry, rise in automotive and aerospace sectors, industrialization and urbanization.
The industrial diamond market size is expected to see steady growth in the next few years. It will grow to $2.64 billion in 2029 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to increased demand in electronics, advancements in additive manufacturing, expansion of renewable energy sector, rise in medical and healthcare applications, emerging economies and infrastructure development. Major trends in the forecast period include lab-grown diamond technology, high-performance applications, emerging markets and industrialization, focus on efficiency and precision, technological innovations in diamond processing.
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Who are the leading competitors in the industrial diamond market?
Major companies operating in the industrial diamond market are ALROSA PJSC, Applied DiamondX Inc., De Beers Inc., Industrial Abrasives Ltd., 3M COMPANY, Toolgal Industrial Diamonds Ltd., Scio Diamond Technology Corporation, Hebei Plasma Diamond Technology Co. Ltd., Advanced Diamond Technologies Inc., Iljin Diamond Co. Ltd., Element Six UK Ltd., Sumitomo Electric Industries Ltd., Henan Huanghe Whirlwind Co. Ltd., Zhongnan Diamond Co. Ltd., Zhengzhou Sino-Crystal Diamond Co. Ltd., Synthetic Diamond Company List Adamas One Corp., New Diamond Technology, Pure Grown Diamonds,Swarovski AG, Sandvik AB, Saint-Gobain S.A, Asahi Diamond Industrial Co. Ltd., Morgan Technical Ceramics
Which emerging trends are set to transform the industrial diamond market landscape?
Technological advancement is a key trend in the industrial diamond market. Major players in the industrial diamond market are concentrating on developing new technologies to maintain their market share. For instance, in May 2022, De Beers Group, a UK-based international corporation specializing in industrial diamond manufacturing sectors, introduced Tracr, the world’s first blockchain-backed diamond source platform at scale. The Tracr platform ensures that users have complete control over data usage accessed by integrating distributed ledger technology with cutting-edge data security and privacy. Each user of Tracr has their own distributed version of the platform, which means that only they can decide who may access their data and who can share it with others. Data security on the platform is strengthened by the cutting-edge privacy technologies utilized by Tracr. As the diamond moves up the value chain, the immutable nature of each transaction on the platform assures that the data cannot be altered.
How do different geographies compare in terms of market share and growth potential in the industrial diamond market?
Asia-Pacific was the largest region in the industrial diamond market share in 2024. The regions covered in the industrial diamond market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the industrial diamond market are experiencing the fastest growth?
The industrial diamond market covered in this report is segmented –
1) By Type: Natural, Synthetic
2) By Application: Semiconductor, Aerospace, Aviation Industry, Other Applications
3) By End-User: Construction, Mining Services, Stone Cutting Or Polishing, Machinery Manufacturing, Transportation Systems, Other End Users
Subsegments:
1) By Natural: Gem-Quality Natural Diamonds, Industrial-Grade Natural Diamonds
2) By Synthetic: High-Pressure High-Temperature (HPHT) Diamonds, Chemical Vapor Deposition (CVD) Diamonds
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How is the industrial diamond market defined?
Industrial diamonds are a crystalline form of carbon intended for use as a cutting tool or abrasive in the industrial sector. They are irregularly shaped, poorly colored, or too small to be valuable as gems, but they are significant in the industrial metalworking and mining industries.
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