Industrial Diamond Market Reaching A Value Worth USD 2.19 Billion By 2025: Grand View Research, Inc.

September 04 08:38 2019
Industrial Diamond Market Reaching A Value Worth USD 2.19 Billion By 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,Industrial diamond has substantial applications in the automotive industry. It has been reported that around 1.5 carats of industrial diamond is used in the manufacturing of every automobile in U.S. Automotive components require precise and stable manufacturing processes.

According to a report, “ Industrial Diamond Market Size, Share & Trends Analysis Report By Type (Synthetic, Natural), By Application (Construction, Electronics, Transportation), By Region (MEA, APAC, North America), And Segment Forecasts, 2019 – 2025 ”, published by Grand View Research, Inc.,The global industrial diamond market size is expected to reach USD 2.19 billion by 2025 registering a CAGR of 2.9%, according to a new report by Grand View Research, Inc. Advancement in smart mining technologies coupled with increasing production of synthetic diamonds are projected to drive the market. Industrial diamond has substantial applications in the automotive industry. It has been reported that around 1.5 carats of industrial diamond is used in the manufacturing of every automobile in U.S. Automotive components require precise and stable manufacturing processes. The operations, such as grooving, boring, grinding, turning, milling, and honing, can be performed with the help of industrial diamond tools. According to the International Organization of Motor Vehicle Manufacturers, global sales including passenger cars and commercial vehicles accounted for 93.6 million in 2017, an increase of 2.3% from the previous year.

The advancement in the production and management system is helping the growth of the automotive industry. Increasing competition along with digitization and globalization is changing the face of the industry. Key companies are developing innovative and advanced techniques to trace the diamonds. Recently, De Beers announced successful tracking of 100 high-quality diamonds through an emerging technology known as blockchain. Also, in April 2018, Helzberg Diamonds, Asahi Refining, and LeachGarner collaborated for a project to track and authenticate diamonds. Moreover, smart mining technology is expected to trigger new growth opportunities for the industry. Data analytics software along with the use of precise GPS systems and Internet of Things (IoT) can also help to boost the productivity of mining operators.

U.S. industrial diamond market

Further key findings from the study suggest:

  • Natural type segment is anticipated to reach USD 341.1 million by 2025 owing to increasing product demand from cutting, drilling, and polishing applications

  • In terms of revenue, electronics application is projected to be the fastest-growing segment at a CAGR of 3.5% from 2019 to 2025

  • Construction application led the global industrial diamond market in 2018 and will maintain its leading position throughout the forecast years due to increasing construction activities and infrastructure development in APAC and MEA

  • In terms of revenue, North America is projected to be the second fastest-growing regional market over the forecast period

  • Some of the key companies in the market are ALROSA; De Beers Group; Industrial Diamond Laboratories, Inc.; Scio Diamond Technology Corp.; and Morgan Advanced Materials

Application Insights

Based on application, the market is categorized into transportation, construction, and electronics. The construction segment led the global market in 2018. Transportation industry consists of growing sectors, such as automotive, aerospace, and maritime transport. Increasing demand for component manufacturing from such industries is expected to drive the segment over the forecast period.

Global industrial diamond market

 The use of blade products has surged in the recent past owing to the strong demand from the construction sector. As per the reports of the World Economic Forum, the global construction industry adds USD 10 trillion in revenue, annually, and accounts for 6.0% of the global GDP. In developed countries, it accounts for 5.0% of total GDP, while in developing countries it accounts for 6.0% of total GDP.

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Regional Insights

In terms of volume, Asia Pacific was the largest region in 2018 and will expand further at the fastest CAGR from 2019 to 2025 due to the availability of land and low-cost labor. China was the world’s largest producer of synthetic diamonds and is anticipated to maintain its dominant position over the coming years. Growth of the construction sector in countries including China, India, Japan, and South Korea is the key factor driving the regional market. Rising industrial activities in emerging economies, particularly China and India, are also expected to positively influence the region’s growth.

North America is also projected to witness a rapid growth in the years to come. U.S. was one of the largest consumers and producers of synthetic products. In terms of volume, the construction application accounted for the highest market share in 2018 in U.S. As per the American Society of Civil Engineers, the country received D+ grade for infrastructure. It is estimated that U.S. needs to spend USD 4.5 trillion to improve the state of bridges, roads, dams, schools and airports. This factor is likely to boost the industrial diamond market growth in North America region.

Browse Related Report: 

  • Mining Drills And Breakers Market  – The increase in demand for underground mining equipment owing to proactive changes in energy efficiency regulations by various governments across the globe is contributing to the industry growth. Mining solutions based on the ongoing requirements for energy efficiency, improved safety, and reduced environmental impact are expected to positively affect the industry growth.
  • Metal Cutting Machine (MCM) Market –  The MCM is widely used to cut various types of ferrous and non-ferrous metals to create assemblies, individual parts, or large-scale structures. Different types of metals are brought to specified geometry to manufacture desired object by removing excess material with the help of various cutting tools.

Grand View Research has segmented the global industrial diamond market on the basis of type, application, and region:

Industrial Diamond Type Outlook (Volume, Million Carats; Revenue, USD Million, 2014 – 2025)

  • Natural

  • Synthetic

Industrial Diamond Application Outlook (Volume, Million Carats; Revenue, USD Million, 2014 – 2025)

  • Construction

  • Transportation

  • Electronics

  • Others

Industrial Diamond Regional Outlook (Volume, Million Carats; Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • Russia

    • France

    • Belgium

  • Asia Pacific

    • China

    • India

    • Japan

  • Central and South America

    • Brazil

  • Middle East and Africa

    • Saudi Arabia

    • UAE

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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