Latin America and the Caribbean: Industrial Diamond Market 2024

Industrial Diamond Market Size in Latin America and the Caribbean

In 2021, the Latin American industrial diamond market was finally on the rise to reach $X for the first time since 2015, thus ending a five-year declining trend. Overall, consumption enjoyed a prominent expansion. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Industrial Diamond Production in Latin America and the Caribbean

In value terms, industrial diamond production totaled $X in 2021 estimated in export price. Over the period under review, production recorded a strong increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 262%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Industrial Diamond Exports

Exports in Latin America and the Caribbean

In 2021, the amount of diamonds (industrial) exported in Latin America and the Caribbean dropped notably to X tons, waning by -65.7% on 2020 figures. Over the period under review, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2020 when exports increased by 194%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, industrial diamond exports dropped to $X in 2021. Overall, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2014 with an increase of 34% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico prevails in exports structure, reaching X tons, which was approx. 82% of total exports in 2021. Bahamas (X kg) held a 6.4% share (based on physical terms) of total exports, which put it in second place, followed by Bolivia (6.2%) and Brazil (5.1%).

From 2012 to 2021, average annual rates of growth with regard to industrial diamond exports from Mexico stood at -10.0%. Brazil and Bahamas experienced a relatively flat trend pattern. Bolivia (-21.0%) illustrated a downward trend over the same period. Bahamas (+6.4 p.p.), Brazil (+3.3 p.p.) and Mexico (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while Bolivia saw its share reduced by -12.8% from 2012 to 2021, respectively.

In value terms, Bolivia ($X) remains the largest industrial diamond supplier in Latin America and the Caribbean, comprising 65% of total exports. The second position in the ranking was taken by Brazil ($X), with a 16% share of total exports. It was followed by Bahamas, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Bolivia totaled -4.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+6.7% per year) and Bahamas (0.0% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per kg, rising by 166% against the previous year. In general, the export price continues to indicate notable growth. The level of export peaked at $X per kg in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (+21.3%), while the other leaders experienced mixed trends in the export price figures.

Industrial Diamond Imports

Imports in Latin America and the Caribbean

In 2021, imports of diamonds (industrial) in Latin America and the Caribbean soared to X tons, picking up by 40% compared with 2020. In general, imports, however, recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2019 when imports increased by 151% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, industrial diamond imports soared to $X in 2021. Overall, imports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2015 when imports increased by 61%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Bahamas was the largest importing country with an import of about X tons, which accounted for 53% of total imports. Brazil (X tons) ranks second in terms of the total imports with a 27% share, followed by Bolivia (9%) and Mexico (6.4%). The following importers - Uruguay (X tons) and Peru (X tons) - each amounted to a 5.4% share of total imports.

From 2012 to 2021, the biggest increases were in Bahamas (with a CAGR of +63.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Bahamas ($X) constitutes the largest market for imported diamonds (industrial) in Latin America and the Caribbean, comprising 63% of total imports. The second position in the ranking was held by Mexico ($X), with a 13% share of total imports. It was followed by Bolivia, with a 12% share.

In Bahamas, industrial diamond imports expanded at an average annual rate of +73.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mexico (-15.6% per year) and Bolivia (-21.3% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per kg in 2021, waning by -17.6% against the previous year. In general, the import price showed a noticeable descent. The pace of growth appeared the most rapid in 2020 when the import price increased by 104% against the previous year. Over the period under review, import prices reached the peak figure at $X per kg in 2015; however, from 2016 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 Mexico ($X per kg), while Uruguay (less than $X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahamas (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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