Press release
Industrial Diamond Market Size Forecasted To Achieve $2.64 Billion By 2029 With Steady Growth
Industrial Diamond
What Is the Industrial Diamond Market Size and Projected Growth Rate?
There has been a consistent growth in the size of the industrial diamond market in the past few years. The market, which was valued at $2.12 billion in 2024, is projected to escalate to $2.18 billion in 2025, recording a compound annual growth rate (CAGR) of 2.8%. This positive trend during the historical period is attributed to various factors such as advancement in industrial applications, introduction of synthetic diamonds, increasing demand in the consumer electronics sector, surge in automotive and aerospace sectors, industrialization, and an accelerated pace of urbanization.
Expectations are high for consistent growth in the industrial diamond market, with projections reaching $2.64 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 4.9%. The foreseeable acceleration can be traced back to a surge in electronic demands, additive manufacturing advancements, renewable energy sector expansion, medical and healthcare application increases, emerging economies, and infrastructure development. Prominent trends such as lab-grown diamond technology, high-performance applications, developing markets and industrialization, focus on efficiency and precision, and innovative diamond processing technologies also characterize the forecast period.
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What Are the Major Segments in the Industrial Diamond Market?
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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What Are The Driving Industrial Diamond Market Evolution?
The industrial diamond market is being propelled forward by the exponential expansion of the automotive industry. This industry encompasses businesses involved in activities such as the production, design, marketing, and distribution of motor vehicles, towing vehicles, and mopeds. Industrial diamond has shown to be more cost-effective in various industrial processes because it cuts faster and lasts longer relative to other abrasives. In automotive manufacturing, abrasives are utilized for activities like frame cutting, edge chamfering, shaping, forming, and weld removal. As such, the burgeoning automotive industry is set to boost the sales of industrial diamonds. For example, the Organisation Internationale des Constructeurs automobiles (OICA), which is a France-based international association of automobile manufacturers, reported that there was significant growth in the global automotive industry in 2023, with the total production of vehicles hitting 93546599 units, a noticeable rise from the 85016728 units that were produced in 2022. As such, the escalating expansion of the automotive industry is catalyzing the growth of the industrial diamond market.
Which Firms Dominate The Industrial Diamond Market Segments?
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
What Trends Are Expected to Dominate the Industrial Diamond Market in the Next 5 Years?
The progression of technology is a prevailing trend within the industrial diamond market. To retain their market positions, key players in the industry are focusing on generating innovative technologies. For instance, the UK-based global corporation De Beers Group, known for their speciality in industrial diamond manufacturing sectors, unveiled Tracr in May 2022. This is the first-ever diamond sourcing platform underpinned by blockchain technology on a large scale. The design of the Tracr platform allows users to manage data usage entirely, achieved by merging distributed ledger technology with sophisticated data security and privacy measures. Each Tracr user has a personal, distributed copy of the platform, enabling them to authorize data access and distribution. The high-end privacy systems employed by Tracr further fortify the platform's data security. As the diamond advances in terms of value, each non-modifiable transaction made on the platform guarantees that the data is impervious to alterations.
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Which Is The Largest Region 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Industrial Diamond Market?
2. What is the CAGR expected in the Industrial Diamond Market?
3. What Are the Key Innovations Transforming the Industrial Diamond Industry?
4. Which Region Is Leading the Industrial Diamond Market?
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