Canada: Industrial Diamond Market 2024

Industrial Diamond Market Size in Canada

After two years of decline, the Canadian industrial diamond market increased by 10% to $X in 2021. Overall, consumption, however, saw a abrupt decline. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Industrial Diamond Production in Canada

In value terms, industrial diamond production totaled $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of 6% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Industrial Diamond Exports

Exports from Canada

Industrial diamond exports from Canada skyrocketed to X tons in 2021, growing by 21% on the year before. In general, exports posted prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 2,515% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, industrial diamond exports contracted sharply to $X in 2021. Over the period under review, exports posted a strong increase. The pace of growth was the most pronounced in 2013 when exports increased by 849% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for industrial diamond exports from Canada, with a 85% share of total exports. Moreover, industrial diamond exports to China exceeded the volume sent to the second major destination, the UK (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to China stood at +30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-3.8% per year) and the United States (-16.8% per year).

In value terms, China ($X), the United States ($X) and the UK ($X) constituted the largest markets for industrial diamond exported from Canada worldwide, together comprising 99.9% of total exports.

Among the main countries of destination, China, with a CAGR of +26.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average industrial diamond export price stood at $X per kg in 2021, reducing by -50.1% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 277% 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 the United States ($X per kg), while the average price for exports to China ($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 Vietnam (+98.9%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Diamond Imports

Imports into Canada

Industrial diamond imports into Canada reduced rapidly to X tons in 2021, with a decrease of -30.2% compared with the year before. In general, imports faced a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of 86%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, industrial diamond imports rose notably to $X in 2021. Over the period under review, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2016 when imports increased by 29% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Africa (X tons), the United States (X tons) and Belgium (X tons) were the main suppliers of industrial diamond imports to Canada, together comprising 76% of total imports. These countries were followed by Australia and Ireland, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were in Ireland (with a CAGR of +15.6%), while purchases for the other leaders experienced a decline.

In value terms, South Africa ($X) constituted the largest supplier of industrial diamond to Canada, comprising 65% of total imports. The second position in the ranking was taken by Ireland ($X), with a 12% share of total imports. It was followed by Belgium, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value from South Africa stood at -7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+11.4% per year) and Belgium (-16.1% per year).

Import Prices by Country

The average industrial diamond import price stood at $X per kg in 2021, with an increase of 61% against the previous year. In general, the import price saw a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 92%. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+17.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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