Africa: Industrial Diamond Market 2024

Industrial Diamond Market Size in Africa

The African industrial diamond market was finally on the rise to reach $X in 2021, after five years of decline. In general, consumption showed a notable increase. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Industrial Diamond Production in Africa

In value terms, industrial diamond production rose significantly to $X in 2021 estimated in export price. In general, production showed pronounced growth. The growth pace was the most rapid in 2013 when the production volume increased by 124% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Industrial Diamond Exports

Exports in Africa

In 2021, exports of diamonds (industrial) in Africa soared to X tons, increasing by 33% on the previous year. Over the period under review, exports showed a strong increase. The pace of growth was the most pronounced in 2017 with an increase of 85%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, industrial diamond exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Angola was the main exporter of diamonds (industrial) in Africa, with the volume of exports resulting at X tons, which was near 64% of total exports in 2021. Democratic Republic of the Congo (X tons) held the second position in the ranking, distantly followed by Botswana (X tons) and Zimbabwe (X tons). All these countries together held approx. 32% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to industrial diamond exports from Angola stood at +15.8%. At the same time, Zimbabwe (+21.2%) and Democratic Republic of the Congo (+4.8%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing exporter exported in Africa, with a CAGR of +21.2% from 2012-2021. By contrast, Botswana (-1.4%) illustrated a downward trend over the same period. Angola (+28 p.p.) and Zimbabwe (+4 p.p.) significantly strengthened its position in terms of the total exports, while Democratic Republic of the Congo and Botswana saw its share reduced by -6.8% and -10% from 2012 to 2021, respectively.

In value terms, Angola ($X) remains the largest industrial diamond supplier in Africa, comprising 86% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a 9.2% share of total exports. It was followed by Democratic Republic of the Congo, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Angola stood at +3.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Zimbabwe (+12.7% per year) and Democratic Republic of the Congo (+0.8% per year).

Export Prices by Country

The export price in Africa stood at $X per kg in 2021, with an increase of 4.3% against the previous year. Over the period under review, the export price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2013 when the export price increased by 48% against the previous year. The level of export peaked at $X per kg in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Zimbabwe ($X per kg), while Democratic Republic of the Congo ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Botswana (-0.4%), while the other leaders experienced a decline in the export price figures.

Industrial Diamond Imports

Imports in Africa

In 2021, overseas purchases of diamonds (industrial) increased by 59% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, imports, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2020 when imports increased by 330%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, industrial diamond imports soared to $X in 2021. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 4,646%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Botswana represented the largest importer of diamonds (industrial) in Africa, with the volume of imports reaching X tons, which was approx. 82% of total imports in 2021. It was distantly followed by South Africa (X tons), constituting a 17% share of total imports.

Imports into Botswana decreased at an average annual rate of -5.3% from 2012 to 2021. At the same time, South Africa (+7.2%) displayed positive paces of growth. Moreover, South Africa emerged as the fastest-growing importer imported in Africa, with a CAGR of +7.2% from 2012-2021. While the share of South Africa (+11 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Botswana (-6.9 p.p.) displayed negative dynamics.

In value terms, Botswana ($X) constitutes the largest market for imported diamonds (industrial) in Africa, comprising 69% of total imports. The second position in the ranking was taken by South Africa ($X), with a 29% share of total imports.

In Botswana, industrial diamond imports expanded at an average annual rate of +43.8% over the period from 2012-2021.

Import Prices by Country

The import price in Africa stood at $X per kg in 2021, with an increase of 20% against the previous year. Overall, the import price posted a significant increase. The growth pace was the most rapid in 2017 an increase of 51,809%. As a result, import price reached the peak level of $X per kg. From 2018 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was South Africa ($X per kg), while Botswana stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Botswana (+51.8%).

Source: IndexBox Platform

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