Eastern Europe: Industrial Diamond Market 2024

Industrial Diamond Market Size in Eastern Europe

In 2021, the East European industrial diamond market decreased by -18.1% to $X, falling for the sixth year in a row after four years of growth. Overall, consumption, however, showed tangible growth. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Industrial Diamond Production in Eastern Europe

In value terms, industrial diamond production stood at $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 184% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Industrial Diamond Exports

Exports in Eastern Europe

In 2021, exports of diamonds (industrial) in Eastern Europe skyrocketed to X tons, picking up by 50% against the year before. Total exports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +75.0% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, industrial diamond exports surged to $X in 2021. Over the period under review, exports, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2014 when exports increased by 48% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Russia (X tons) was the key exporter of diamonds (industrial) in Eastern Europe, committing 99.9% of total export.

Russia was also the fastest-growing in terms of the diamonds (industrial) exports, with a CAGR of +2.9% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest industrial diamond supplier in Eastern Europe.

From 2012 to 2021, the average annual growth rate of value in Russia amounted to -3.3%.

Export Prices by Country

The export price in Eastern Europe stood at $X per kg in 2021, with a decrease of -14.2% against the previous year. Overall, the export price saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the export price increased by 36%. As a result, the export price reached the peak level of $X per kg. From 2015 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2021, the rate of growth in terms of prices for Russia amounted to -6.0% per year.

Industrial Diamond Imports

Imports in Eastern Europe

In 2021, supplies from abroad of diamonds (industrial) decreased by -55.9% to X tons, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a dramatic descent. The most prominent rate of growth was recorded in 2018 when imports increased by 71% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, industrial diamond imports shrank notably to $X in 2021. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 28%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The Czech Republic represented the main importing country with an import of around X tons, which reached 71% of total imports. Russia (X tons) ranks second in terms of the total imports with a 16% share, followed by Ukraine (6.4%) and Poland (6.1%).

Imports into the Czech Republic decreased at an average annual rate of -34.4% from 2012 to 2021. Ukraine (-8.8%), Russia (-28.9%) and Poland (-38.9%) illustrated a downward trend over the same period. Russia (+8.2 p.p.) and Ukraine (+6 p.p.) significantly strengthened its position in terms of the total imports, while Poland saw its share reduced by -5.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Czech Republic ($X) constitutes the largest market for imported diamonds (industrial) in Eastern Europe, comprising 71% of total imports. The second position in the ranking was held by Russia ($X), with a 16% share of total imports. It was followed by Ukraine, with a 7.7% share.

In the Czech Republic, industrial diamond imports expanded at an average annual rate of +4.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Russia (-24.7% per year) and Ukraine (-19.1% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per kg in 2021, growing by 58% against the previous year. In general, the import price recorded significant growth. The most prominent rate of growth was recorded in 2013 when the import price increased by 243%. The level of import peaked at $X per kg in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Ukraine ($X per kg) and the Czech Republic ($X per kg), while Poland ($X per kg) and Russia ($X per kg) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+59.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :