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Comprehensive 2025 Industrial Diamond Market Overview: Trends, Forecasts, and Growth Drivers
Industrial Diamond
What Is the Expected CAGR for the Industrial Diamond Market Through 2025?
There has been a consistent increase in the size of the industrial diamond market in the last few years. It is projected to escalate from $2.12 billion in 2024 to $2.18 billion in 2025, with a compound annual growth rate (CAGR) of 2.8%. Factors such as advancements in industrial applications, the advent of synthetic diamonds, growth of the consumer electronics sector, the uptrend in the automotive and aerospace sectors, along with industrialization and urbanization are responsible for this growth observed in the historic period.
What's the Projected Size of the Global Industrial Diamond Market by 2029?
Predictions for the industrial diamond market size suggest a consistent growth in the coming years, aiming to reach $2.64 billion by the year 2029 with a compound annual growth rate (CAGR) of 4.9%. This growth during the forecast span can be associated with numerous factors such as rising demand in the electronics sector, developments in additive manufacturing, growth of renewable energy industry, an increase in medical and healthcare uses, progressing economies and infrastructural advancement. The forecasting period is also anticipated to witness major trends like technology for lab-grown diamonds, high-end use cases, burgeoning marketplaces and industrial growth, emphasis on precision and efficient operations, and technological breakthroughs in diamond processing.
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Top Growth Drivers in the Industrial Diamond Industry: What's Accelerating the Market?
The industrial diamond market's expansion is closely tied to the quick pace of advancement in the automotive industry. This sector encompasses a wide range of companies involved in the manufacture, design, development, marketing, and distribution of motor vehicles, mopeds, and towing vehicles. Industrial diamonds are becoming a more cost-efficient alternative to other abrasives within various industrial processes, as they offer faster cutting speeds and have a longer lifespan. In the world of automobiles, abrasives are used for tasks like frame cutting, edge chamfering, shaping, forming, and removal of welds. Thus, the upswing in the automotive industry paves the way for increased industrial diamond sales. As an illustrative point, the Organisation Internationale des Constructeurs automobiles (OICA), a car manufacturers' association based in France, states that global vehicle production saw an impressive rise in 2023, with 93546599 units compared to the previous year's figure of 85016728 units. Consequently, the fast-paced development of the automotive industry is fuelling the expansion of the industrial diamond market.
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What Trends Will Shape the Industrial Diamond Market Through 2029 and Beyond?
The drive in technological innovation is a significant trend within the industrial diamond industry. To retain their market dominance, major industry players are focusing their efforts on creating new technologies. To illustrate, in May 2022, De Beers Group, a global industrial diamond manufacturing company based in the UK, launched Tracr, the first ever large-scale, blockchain-supported diamond source platform. Tracr grants total control to its users in terms of how the data they accessed is used, made possible by blending state-of-the-art data security and privacy with distributed ledger technology. This means every Tracr user has a decentralized version of the platform, allowing them to control who has access to their data and who can distribute it. With the help of cutting-edge privacy technologies used, the platform enhances data security. When the diamond ascends the value chain, the unalterable nature of each transaction conducted on the platform ensures the data remains intact and cannot be modified.
What Are the Main 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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Which Top Companies are Driving Growth in the Industrial Diamond Market?
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
Which Regions Will Dominate the Industrial Diamond Market Through 2029?
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.
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