Only one fifth of the globe’s diamond production by weight is utilized in the jewelry industry, while around 80% is used for various industrial purposes. Diamond plays an important role in a slew of industries due to its beneficial properties such as extreme hardness and high thermal conductivity. It is used in the manufacture of drilling, cutting, polishing and grinding tools. Given its certain chemical, optical, electrical and thermal characteristics, diamond is also used in the production of various advanced products, such as wear- and corrosion-resistant coatings, heat sinks in electrical circuits, computer disk drivers and special lenses for laser radiation equipment, among others.
In 2012, the global production of natural industrial diamond registered 1.7% y-o-y growth and climbed to 61.5 million carats. Meanwhile, synthetic industrial diamond production grew by 0.16% and went beyond 4.39 billion carats. In the same year, the industrial diamond production exceeded 4.44 billion carats.
Congo is the top producer of natural industrial diamonds, accounting for over 26% of the world production volume. China is the dominant producer of synthetic industrial diamond with around 91% share of the global production.
Natural industrial diamond: world mine production structure, by country, 2012
Synthetic industrial diamond: world production structure, by country, 2012
Diamond Innovations, Industrial Diamond Laboratories, Abrasivos Industriais, OJSC ALROSA, Drex-Chem, Henan Sifang Super Hard Material, De Beers Consolidated Mines, Murowa Diamond Mine and Argyle Pink Diamonds are among the leading players operating in the world industrial diamond market.
The production of natural industrial diamond is likely to decline in the forthcoming years due to a fierce competition faced from its synthetic version, which is much more cost-effective. In 2015, the world production of natural and synthetic industrial diamond is expected to reach 60 million carats and 4.42 billion carats, respectively.
More information on the industrial diamond market can be found in the report Industrial Diamond Market Review