The industrial diamond market size has witnessed steady growth recently, rising from $2.12 billion in 2024 to an estimated $2.18 billion in 2025, indicating a compound annual growth rate (CAGR) of 2.8%. This progression in the historic period is attributable to various factors such as the development of industrial applications, the rise of synthetic diamonds, and the expansion of the consumer electronics industry. Additionally, the growth in automotive and aerospace sectors, as well as increased industrialization and urbanization, have also contributed to this uptick.
This growth is expected to continue, with the industrial diamond market size projected to reach $2.64 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 4.9%. This prediction for the forecast period is based on the rising demand in electronics, advancements in additive manufacturing, expansion of the renewable energy sector, and increasing applications in the medical and healthcare fields. Infrastructure development in emerging economies is another significant contributor to the anticipated growth. In the forecast period, major market trends include lab-grown diamond technology, high-performance applications, emerging markets, industrialization, a focus on efficiency and precision, and technological innovations in diamond processing.
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What Are the Drivers of the Industrial Diamond Market?
One of the significant catalysts is the rapid growth of the automotive industry. In this industry, abrasives form an integral part of various processes such as frame cutting, edge chamfering, shaping, forming, and weld removal. Industrial diamonds have proven to be more cost-efficient than other abrasives because they cut quicker and last longer, propelling the sales growth of industrial diamonds. Evidence of the automotive industry’s growth is evident in 2023 data from the Organisation Internationale des Constructeurs automobiles (OICA). It reported that global automotive production reached 93,546,599 units, which marks a significant increase from the 85,016,728 units produced in 2022. Consequently, this rapid growth of the automotive industry is a substantial driver of the industrial diamond market.
Which Are the Major Segments of the Global Industrial Diamond Market?
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
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Who Are the Key Players in the Global Industrial Diamond Market?
Prominent players in the industrial diamond market include 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, and Asahi Diamond Industrial Co. Ltd.
What Are the Emerging Trends in the Industrial Diamond Market?
One key trending factor in the market is technological advancement. For example, De Beers Group, a UK-based international corporation specializing in the industrial diamond manufacturing sector, introduced Tracr worldwide in May 2022. Tracr is the first blockchain-backed diamond source platform at a broad scale, utilizing distributed ledger technology along with advanced data security and privacy to ensure that users have complete control over their data access and usage.
Which Region Dominates the Global Industrial Diamond Market?
In 2024, Asia-Pacific held the largest share of the industrial diamond market. Other regions covered in the industrial diamond market report include Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Industrial Diamond Market Report 2025 Offer?
Industrial diamonds are a crystalline form of carbon. They are primarily used as cutting tools or abrasives in the industrial sector. Although these diamonds are not suitable as gems due to their irregular shape and poor color, they hold significant value in the industrial metalworking and mining industries. The Industrial Diamond Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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