India: Industrial Diamond Market 2024

Industrial Diamond Market Size in India

In 2021, the Indian industrial diamond market was finally on the rise to reach $X after four years of decline. Overall, consumption recorded a prominent increase. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Industrial Diamond Production in India

In value terms, industrial diamond production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production, however, faced a deep reduction. Industrial diamond production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Industrial Diamond Exports

Exports from India

In 2021, approx. X tons of diamonds (industrial) were exported from India; increasing by 99% on the previous year. In general, exports recorded a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 517% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, industrial diamond exports surged to $X in 2021. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 1,516% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Israel (X tons), the United Arab Emirates (X tons) and Ireland (X tons) were the main destinations of industrial diamond exports from India, together comprising 60% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +60.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for industrial diamond exported from India were the United Arab Emirates ($X), Belgium ($X) and China ($X), with a combined 77% share of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +59.6%, saw the highest growth rate of 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, increasing by 124% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 301%. Over the period under review, the average export prices reached the peak figure at $X per kg in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per kg), while the average price for exports to Ireland ($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 China (+6.5%), while the prices for the other major destinations experienced a decline.

Industrial Diamond Imports

Imports into India

Industrial diamond imports into India soared to X tons in 2021, with an increase of 129% compared with 2020 figures. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 13,184%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, industrial diamond imports surged to $X in 2021. Over the period under review, imports showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 7,767% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest industrial diamond supplier to India, accounting for a 56% share of total imports. Moreover, industrial diamond imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. Russia (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates totaled +78.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+169.3% per year) and Russia (+28.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of industrial diamond to India, comprising 62% of total imports. The second position in the ranking was taken by Belgium ($X), with a 23% share of total imports. It was followed by Russia, with a 9% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates amounted to +56.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+105.8% per year) and Russia (+42.0% per year).

Import Prices by Country

The average industrial diamond import price stood at $X per kg in 2021, with an increase of 5.9% against the previous year. Over the period under review, the import price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2017 an increase of 70% against the previous year. Over the period under review, average import prices hit record highs at $X per kg in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+20.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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