Global Industrial Diamond Market to Grow at a CAGR of 3.1% During 2024-2032, Aided by Rapid Infrastructural Developments

Industrial diamonds are defined as diamonds that do not match gem quality requirements in terms of colour, clarity, size, or shape; and are mostly used as abrasives. Their qualities may often be customised for particular uses, and they can be made in infinite amounts.

As a result, almost 90% of the industrial diamond used in the US is produced artificially. The Asia Pacific holds a significant market portion of the global industrial diamond market share due to the growing infrastructure development and the presence of industrial diamond mines in China, Indonesia, and Australia.

Industrial diamond is employed as a cutting instrument for dyes for drawing wires, for dressing abrasive wheels, and for hard materials such as rock (but not iron, nickel, or cobalt-based alloys). Its extensive application in the automotive sector further drives the market expansion in the Asia Pacific region, as countries including Japan, South Korea, and China boast the presence of leading automotive giants.

Increasing partnerships between leading diamond manufacturers such as Adamas One Corporation (Scio Diamond Technology Corporation) (NASDAQ: JEWL) and governments contribute to the growth of the market. In January 2024, the Board of Debswana, a 50:50 joint venture between De Beers Group and the Government of the Republic of Botswana, approved an investment of USD 1 billion for a critical development phase of the Jwaneng underground project in order to enable the world's most valuable diamond mine to move from open pit to underground operations, which is anticipated to begin in May 2024 with two-step mining phases. Construction of such mines is anticipated to maintain the long-term production of industrial diamonds in the forecast period.

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Market Analysis by Type, Application, and Region:

• The market, on the basis of type, can be divided into natural industrial diamond and synthetic industrial diamond.

• Based on application, the market can be segmented into construction, transportation, and electronics, among others.

• The major regional markets for industrial diamond include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rapid infrastructural development and growing consumer disposable income in developing economies such as China, India, and Brazil propel the industrial diamond market demand.

• Advancements in diamond synthesis technologies such as synthetic diamond formation technology and high-frequency seismic reflection technology create opportunities for the market.

• The extensive application of industrial diamonds in the transportation and aviation sectors supports the market growth. The automotive sector uses industrial diamonds to machine abrasive Al-Si alloys, and they are used in aircraft to machine glass-epoxy composites.

• Compared to silicon carbide, diamond’s dielectric breakdown strength is three times greater; thus, it is regarded as the best wide-bandgap semiconductor for use in high-power electronics applications.

Key Offerings of the Report:

• The EMR report gives an overview of the global industrial diamond market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, and major regions of industrial diamond.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global industrial diamond market are Applied Diamond Inc., Element Six (UK) Ltd., PJSC Alrosa, ILJIN DIAMOND CO., LTD, Adamas One Corporation (Scio Diamond Technology Corporation), De Beers plc, and Industrial Diamond Laboratories, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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