Belgium: Industrial Diamond Market 2024

Industrial Diamond Market Size in Belgium

The Belgian industrial diamond market declined significantly to $X in 2021, waning by -20.6% against the previous year. In general, consumption showed a abrupt decline. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Industrial Diamond Production in Belgium

In value terms, industrial diamond production shrank sharply to $X in 2021 estimated in export price. In general, production, however, recorded a sharp downturn. The growth pace was the most rapid in 2015 when the production volume increased by 543%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Industrial Diamond Exports

Exports from Belgium

Industrial diamond exports from Belgium surged to X tons in 2021, growing by 348% against the previous year's figure. In general, exports recorded a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial diamond exports soared to $X in 2021. Over the period under review, exports posted a temperate expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) was the main destination for industrial diamond exports from Belgium, with a 61% share of total exports. Moreover, industrial diamond exports to India exceeded the volume sent to the second major destination, France (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to India amounted to +96.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+45.7% per year) and Italy (+31.4% per year).

In value terms, India ($X) emerged as the key foreign market for industrial diamond exports from Belgium, comprising 65% of total exports. The second position in the ranking was taken by China ($X), with a 6.4% share of total exports. It was followed by Japan, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +74.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+6.5% per year) and Japan (+2.8% per year).

Export Prices by Country

In 2021, the average industrial diamond export price amounted to $X per kg, which is down by -4.2% against the previous year. Over the period under review, the export price showed a deep reduction. The growth pace was the most rapid in 2015 when the average export price increased by 55% against the previous year. The export price peaked at $X per kg in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per kg), while the average price for exports to France ($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 Japan (+7.5%), while the prices for the other major destinations experienced mixed trend patterns.

Industrial Diamond Imports

Imports into Belgium

For the third consecutive year, Belgium recorded growth in supplies from abroad of diamonds (industrial), which increased by 31% to X tons in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 125%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, industrial diamond imports fell modestly to $X in 2021. Over the period under review, imports, however, recorded a pronounced decrease. The pace of growth was the most pronounced in 2019 when imports increased by 67% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons), the United Arab Emirates (X tons) and Israel (X tons) were the main suppliers of industrial diamond imports to Belgium, together accounting for 84% of total imports.

From 2012 to 2021, the biggest increases were in the United Arab Emirates (with a CAGR of +25.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial diamond suppliers to Belgium were the United Arab Emirates ($X), Russia ($X) and Botswana ($X), with a combined 90% share of total imports.

Botswana, with a CAGR of +25.8%, 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

The average industrial diamond import price stood at $X per kg in 2021, waning by -25.2% against the previous year. Overall, the import price showed a mild shrinkage. The growth pace was the most rapid in 2015 an increase of 78%. As a result, import price reached the peak level of $X per kg. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Botswana ($X per kg), while the price for India ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+45.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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