Dublin, July 21, 2023 (GLOBE NEWSWIRE) -- The "Industrial Diamond Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global industrial diamond market is projected to experience steady growth over the forecast period from 2023 to 2028. According to the latest market research report, the market is expected to grow from $2.00 billion in 2022 to $2.06 billion in 2023 at a compound annual growth rate (CAGR) of 2.70%. Furthermore, the market is anticipated to reach $2.32 billion by 2027, exhibiting a CAGR of 3.02%.
Industrial diamonds, a form of crystalline carbon, are widely used as cutting tools and abrasives in various industrial sectors such as metalworking and mining. Although they may not possess significant value as gemstones due to their irregular shapes, poor coloration, or small size, they play a vital role in industrial applications.
The global industrial diamond market can be segmented into two major types: natural diamonds and synthetic diamonds. Natural diamonds are mined stones that may have flaws, uneven shapes, poor coloration, or small size, but are essential in industries such as semiconductors, aerospace, and aviation. The demand for industrial diamonds stems from various end-users, including construction, mining services, stone cutting or polishing, machinery manufacturing, transportation systems, and others.
One of the key trends driving the industrial diamond market is technological advancement. Major players in the market are focusing on developing new technologies to maintain their market share. For instance, De Beers Group introduced Tracr, a blockchain-backed diamond source platform, to ensure data security and privacy. This innovative platform utilizes distributed ledger technology to provide users with control over their data and enhances the transparency and immutability of transactions.
Asia-Pacific dominated the industrial diamond market in 2022, accounting for the largest market share. The market analysis report covers various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa. Additionally, key countries such as Australia, Brazil, China, France, Germany, India, Japan, Russia, South Korea, the UK, and the USA are analyzed for their market dynamics.
The growth of the automotive industry is a significant driver for the industrial diamond market. Industrial diamonds have proven to be more cost-effective than other abrasives in various industrial operations, making them highly valuable in the automotive industry. They are utilized for tasks such as frame cutting, edge chamfering, cutting, shaping, forming, and weld removal. The increasing production and sales of automobiles globally are fueling the demand for industrial diamonds.
In recent years, the automotive industry has witnessed substantial growth. For example, the European Automobile Manufacturers Association reported a 2.7% increase in the total number of cars produced, reaching 63.2 million. Sales of passenger cars in the US rose by 5.5% to 11.9 million units, while Chinese automakers produced 20.7 million vehicles, indicating a 7.1% growth. Such growth in the automotive industry directly contributes to the expansion of the industrial diamond market.
The global industrial diamond market presents lucrative opportunities for strategists, marketers, and senior management. The market research report provides critical information to assess the market, understand the impact of COVID-19, analyze the market dynamics affected by geopolitical tensions, measure the impact of global inflation, create regional and country strategies based on local data, identify growth segments for investment, and benchmark performance against key competitors.
The report includes comprehensive insights on market size, major players, market trends, drivers, restraints, opportunities, and threats. Some of the key companies profiled in the report include ALROSA PJSC, Industrial Diamond Laboratories Inc., Applied DiamondX Inc., De Beers Inc., Industrial Abrasives Ltd., 3M CO., Toolgal Industrial Diamonds Ltd., INVEDIA Ltd., Scio Diamond Technology Corporation, Toolgal Diamond Tools Ltd., Hebei Plasma Diamond Technology Co. Ltd., Schlumberger Limited, Nixon Industrial Diamonds Ltd., Advanced Diamond Technologies, Inc., and Iljin Diamond Co. Ltd.
With a truly global perspective and reliable high-quality data and analysis, this market report is invaluable for supporting internal and external presentations, strategic decision-making, and staying ahead in the competitive landscape.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $2.06 billion |
| Forecasted Market Value (USD) by 2027 | $2.32 billion |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Industrial Diamond Market Characteristics
3. Industrial Diamond Market Trends And Strategies
4. Industrial Diamond Market - Macro Economic Scenario
4.1. COVID-19 Impact On Industrial Diamond Market
4.2. Ukraine-Russia War Impact On Industrial Diamond Market
4.3. Impact Of High Inflation On Industrial Diamond Market
5. Industrial Diamond Market Size And Growth
5.1. Global Industrial Diamond Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Industrial Diamond Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Industrial Diamond Market Segmentation
6.1. Global Industrial Diamond Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Natural
- Synthetic
6.2. Global Industrial Diamond Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Semiconductor
- Aerospace
- Aviation Industry
- Other Applications
6.3. Global Industrial Diamond Market, Segmentation By End-user, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Construction
- Mining Services
- Stone Cutting Or Polishing
- Machinery Manufacturing
- Transportation Systems
- Other End Users
7. Industrial Diamond Market Regional And Country Analysis
7.1. Global Industrial Diamond Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Industrial Diamond Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/njvglg
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