The industrial diamond global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Industrial Diamond Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The industrial diamond market size has grown steadily in recent years. It will grow from <b>$2.08 billion in 2023 to $2.15 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. </b> The growth in the historic period can be attributed to industrial applications development, emergence of synthetic diamonds, expanding consumer electronics industry, rise in automotive and aerospace sectors, industrialization and urbanization.
The industrial diamond market size is expected to see steady growth in the next few years. It will grow to <b>$2.51 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. </b> The growth in the forecast period can be attributed to increased demand in electronics, advancements in additive manufacturing, expansion of renewable energy sector, rise in medical and healthcare applications, emerging economies and infrastructure development. Major trends in the forecast period include lab-grown diamond technology, high-performance applications, emerging markets and industrialization, focus on efficiency and precision, technological innovations in diamond processing.
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Scope Of Industrial Diamond Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Industrial Diamond Market Overview
Market Drivers –
The rapid growth of the automotive industry is driving the growth of the industrial diamond market. The automotive industry refers to a broad spectrum of businesses engaged in producing, developing, developing, designing, marketing, and distributing motor vehicles, towing vehicles, and mopeds. Industrial diamond has proven to be more cost-effective in many industrial operations than other abrasives because it cuts quicker and lasts longer. In the automotive industry, abrasives are used for frame cutting, edge chamfering, cutting, shaping, forming, and weld removal. Thus, the rising automotive industry will propel the sales growth of industrial diamonds. For instance, in March 2022, according to an Economic and Market Report shared by The European Automobile Manufacturers Association, a Belgium-based lobbying and standards group for the automobile industry in the European Union, the total number of cars produced climbed by 2.7% to 63.2 million. Sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units last year. Chinese automakers produced 20.7 million vehicles in 2017, an increase of 7.1%. In the EU, 1.8 million commercial cars were registered in 2021, an increase of 9.6% over the previous year. EU van sales grew by 8.5% to over 1.6 million units in the previous year. Therefore, the rapid growth of the automotive industry is driving the growth of the industrial diamond market.
Market Trends –
Technological advancement is a key trend in the industrial diamond market. Major players in the industrial diamond market are concentrating on developing new technologies to maintain their market share. For instance, in May 2022, De Beers Group, a UK-based international corporation specializing in industrial diamond manufacturing sectors, introduced Tracr, the world’s first blockchain-backed diamond source platform at scale. The TracrTM platform ensures that users have complete control over data usage accessed by integrating distributed ledger technology with cutting-edge data security and privacy. Each user of TracrTM has their own distributed version of the platform, which means that only they can decide who may access their data and who can share it with others. Data security on the platform is strengthened by the cutting-edge privacy technologies utilised by TracrTM. As the diamond moves up the value chain, the immutable nature of each transaction on the platform assures that the data cannot be altered.
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
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Regional Insights –
Asia-Pacific was the largest region in the industrial diamond market share in 2023. The regions covered in the industrial diamond market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the industrial diamond market report are ALROSA PJSC, Industrial Diamond Laboratories Inc., Applied DiamondX Inc., De Beers Inc., Industrial Abrasives Ltd., 3M COMPANY, 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., 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., E. I. du Pont de Nemours and Company, Henkel AG & Co. KGaA, Morgan Technical Ceramics
Table of Contents
1. Executive Summary
2. Industrial Diamond Market Report Structure
3. Industrial Diamond Market Trends And Strategies
4. Industrial Diamond Market – Macro Economic Scenario
5. Global Industrial Diamond Market Size and Growth
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31. Global Industrial Diamond Market Competitive Benchmarking
32. Global Industrial Diamond Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Industrial Diamond Market
34. Industrial Diamond Market Future Outlook and Potential Analysis
35. Appendix
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