Australia: Industrial Diamond Market 2024

Industrial Diamond Market Size in Australia

In 2021, after five years of decline, there was significant growth in the Australian industrial diamond market, when its value increased by 26% to $X. In general, consumption enjoyed a notable expansion. Industrial diamond consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Industrial Diamond Production in Australia

In value terms, industrial diamond production soared to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 248%. Industrial diamond production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Industrial Diamond Exports

Exports from Australia

In 2021, exports of diamonds (industrial) from Australia reduced dramatically to X tons, dropping by -40.2% against 2020. Overall, exports recorded a significant decrease. The most prominent rate of growth was recorded in 2019 with an increase of 11%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, industrial diamond exports fell markedly to $X in 2021. Over the period under review, exports recorded a dramatic setback. The most prominent rate of growth was recorded in 2013 when exports increased by 20%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Canada (X tons), the United States (X tons) and China (X tons) were the main destinations of industrial diamond exports from Australia, with a combined 56% share of total exports. These countries were followed by Croatia, Ireland, Thailand, South Korea, Chile, the UK, Mexico, Belgium and Switzerland, which together accounted for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +27.7%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for industrial diamond exports from Australia, comprising 24% of total exports. The second position in the ranking was taken by China ($X), with a 12% share of total exports. It was followed by Croatia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -27.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-28.6% per year) and Croatia (+10.8% per year).

Export Prices by Country

In 2021, the average industrial diamond export price amounted to $X per kg, with an increase of 8.9% against the previous year. Overall, the export price, however, continues to indicate a slight decline. The pace of growth was the most pronounced in 2018 when the average export price increased by 48% against the previous year. As a result, the export price reached the peak level of $X per kg. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Mexico ($X per kg), while the average price for exports to South Korea ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Diamond Imports

Imports into Australia

Industrial diamond imports into Australia shrank remarkably to X tons in 2021, with a decrease of -70.3% compared with 2020. Overall, imports showed a deep contraction. The growth pace was the most rapid in 2015 with an increase of 396% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, industrial diamond imports declined dramatically to $X in 2021. Over the period under review, imports saw a abrupt setback. The pace of growth appeared the most rapid in 2015 when imports increased by 417%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X kg) constituted the largest industrial diamond supplier to Australia, with a 54% share of total imports. Moreover, industrial diamond imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X kg), twofold. Belgium (X kg) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from the UK stood at +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.7% per year) and Belgium (-12.8% per year).

In value terms, the UK ($X), Belgium ($X) and South Africa ($X) constituted the largest industrial diamond suppliers to Australia, with a combined 68% share of total imports.

The UK, with a CAGR of +22.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average industrial diamond import price amounted to $X per kg, jumping by 58% against the previous year. Over the period under review, the import price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 64%. The import price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Democratic Republic of the Congo ($X per kg), while the price for the United States ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+30.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :