Industrial
diamond, one of the strongest materials available, is a
diamond used for varied industrial purposes such as cutting tool.
Over 80% of the global diamond consumption comprises of these
industrial diamond. Industrial diamond possesses several
characteristics such as high strength, wear resistance, thermal
conductivity and corrosion resistance. Industrial diamond is mainly
employed in the production of abrasives, medical and electronics
among others. Abrasives dominate the global demand for industrial
diamond and the trend is expected to continue in the near future.
Industrial diamond
can be mined from its natural reserves and can also be produced
synthetically. Synthetic diamonds can be modified as per the end user
industries and can be produced in the desired quantity unlike natural
diamonds. On account of this factor, synthetic diamond dominates the
global demand for industrial diamonds and the trend is expected to
continue in the near future. Exploitation of human rights during
mining of natural diamond mainly in the under developed nations has
led to several human rights and political issues in the industry. The
issues related to natural diamonds are also among the major factors
fuelling demand for synthetic diamonds.
Boart, ballas and
black diamond are among the dominant naturally mined industrial
diamonds. Nanodiamond is expected to be the fastest growing segment
of synthetic diamonds during the forecast period. Nanodiamond is
mainly employed in the production of abrasives and polishes. Other
applications of nanodiamond include lubricants, polymers and
biosensors among several others. With increasing research and
development activities application scope of nanodiamond is increasing
and the diamond is gaining acceptance in medical applications
including chemotherapy, anti viral & anti bacterial applications
and gene therapy among several others. Medical applications are
expected to drive demand for nanodiamond in the near future.
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Increasing demand
for high strength abrasives for several purposes including cutting,
grinding, polishing, others has been among the major drivers for
industrial diamond market growth. Major end user industries for
industrial diamond include electronics and automobiles. Hence,
increasing disposable income and overall economic growth of a region
are among major factors driving demand for industrial diamond in a
region. Research and development activities to lower production cost
and increase the application scope of industrial diamonds is expected
to offer huge growth opportunity for market growth.
Asia Pacific region
dominates the global consumption and production of industrial
diamonds. China alone accounts for over 70% of the global production
of industrial diamond. Increasing industrial investments and high GDP
growth rate in the emerging economies of India and China is expected
to drive market growth in the region. Asia Pacific is expected to be
the fastest growing region for industrial diamond market growth
during the forecast period. North America is the second largest
market for industrial diamonds. Demand for industrial diamond in
North America and Europe is expected to be driven by growing demand
for nanodiamond. Brazil is among the leading sources for natural
industrial diamonds. Increasing industrial investment in Latin
America is expected to drive market growth in the RoW region.
Some of the Major
Players in the industrial diamond
market include Advanced Diamond Solutions, Inc., Applied Diamond Inc,
Diamond Technologies Inc, Industrial Abrasives Limited, Morgan
Technical Ceramics Diamonex, Novatek, Scio Diamond Technology
Corporation, Sumitomo Electric, Hebei Plasma diamond and Worldwide
Diamond Manufacturers Pvt. Ltd. among others.
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