EU: Industrial Diamond Market 2024

Industrial Diamond Market Size in the EU

In 2021, after five years of decline, there was significant growth in the EU industrial diamond market, when its value increased by 16% to $X. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Industrial Diamond Production in the EU

In value terms, industrial diamond production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production saw a remarkable increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 268%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Industrial Diamond Exports

Exports in the EU

In 2021, overseas shipments of diamonds (industrial) increased by 335% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports enjoyed a prominent 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 surged to $X in 2021. In general, exports saw a notable expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium dominates exports structure, reaching X tons, which was near 96% of total exports in 2021. Ireland (X tons) followed a long way behind the leaders.

Exports from Belgium increased at an average annual rate of +18.4% from 2012 to 2021. At the same time, Ireland (+26.7%) displayed positive paces of growth. Moreover, Ireland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +26.7% from 2012-2021. From 2012 to 2021, the share of Belgium and Ireland increased by +4.7 and +2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) remains the largest industrial diamond supplier in the European Union, comprising 97% of total exports. The second position in the ranking was held by Ireland ($X), with a 1.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Belgium totaled +4.8%.

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per kg, which is down by -4.2% against the previous year. Over the period under review, the export price faced a deep contraction. The pace of growth was the most pronounced in 2014 when the export price increased by 31% against the previous year. Over the period under review, the export prices hit record highs at $X per kg in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per kg), while Ireland stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (-1.4%).

Industrial Diamond Imports

Imports in the EU

In 2021, industrial diamond imports in the European Union skyrocketed to X tons, jumping by 78% against the previous year's figure. Overall, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial diamond imports expanded notably to $X in 2021. In general, imports, however, saw a noticeable decrease. The growth pace was the most rapid in 2019 with an increase of 65%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons) represented the largest importer of diamonds (industrial), generating 64% of total imports. It was distantly followed by Italy (X tons) and Ireland (X tons), together generating a 33% share of total imports. The Netherlands (X tons) took a little share of total imports.

Belgium experienced a relatively flat trend pattern with regard to volume of imports of diamonds (industrial). At the same time, Italy (+20.8%) and Ireland (+2.7%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing importer imported in the European Union, with a CAGR of +20.8% from 2012-2021. By contrast, the Netherlands (-9.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Italy increased by +20 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) constitutes the largest market for imported diamonds (industrial) in the European Union, comprising 85% of total imports. The second position in the ranking was held by Italy ($X), with a 6.5% share of total imports. It was followed by the Netherlands, with a 3.4% share.

In Belgium, industrial diamond imports plunged by an average annual rate of -2.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Italy (+3.7% per year) and the Netherlands (-3.1% per year).

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per kg, with a decrease of -37.9% against the previous year. In general, the import price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2015 when the import price increased by 61% against the previous year. Over the period under review, import prices hit record highs at $X per kg in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+7.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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