Mexico: Industrial Diamond Market 2024

Industrial Diamond Market Size in Mexico

In 2021, after four years of decline, there was significant growth in the Mexican industrial diamond market, when its value increased by 11% to $X. Overall, consumption showed a moderate increase. Industrial diamond consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Industrial Diamond Production in Mexico

In value terms, industrial diamond production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a modest increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 200%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Industrial Diamond Exports

Exports from Mexico

In 2021, the amount of diamonds (industrial) exported from Mexico contracted dramatically to X tons, with a decrease of -70.8% compared with 2020 figures. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 303%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, industrial diamond exports reduced markedly to $X in 2021. Over the period under review, exports faced a dramatic setback. The most prominent rate of growth was recorded in 2020 when exports increased by 161% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for industrial diamond exports from Mexico, with a 85% share of total exports. Moreover, industrial diamond exports to the United States exceeded the volume sent to the second major destination, Japan (X kg), sixfold.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+11.3% per year) and South Korea (-47.6% per year).

In value terms, the United States ($X) remains the key foreign market for industrial diamond exports from Mexico, comprising 87% of total exports. The second position in the ranking was taken by Japan ($X), with a 9.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-27.4% per year) and South Korea (-49.8% per year).

Export Prices by Country

The average industrial diamond export price stood at $X per kg in 2021, which is down by -39.3% against the previous year. Overall, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2016 when the average export price increased by 137% against the previous year. Over the period under review, the average export prices reached the maximum at $X per kg in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per kg), while the average price for exports to Japan ($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 South Korea (-4.4%), while the prices for the other major destinations experienced a decline.

Industrial Diamond Imports

Imports into Mexico

In 2021, the amount of diamonds (industrial) imported into Mexico skyrocketed to X tons, growing by 67% on the year before. Over the period under review, imports continue to indicate a perceptible expansion. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, industrial diamond imports skyrocketed to $X in 2021. Overall, imports, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 43% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Botswana (X tons), South Africa (X tons) and Australia (X tons) were the main suppliers of industrial diamond imports to Mexico, with a combined 83% share of total imports. These countries were followed by the United States, Belgium and the UK, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +31.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial diamond suppliers to Mexico were Botswana ($X), the United States ($X) and South Africa ($X), together accounting for 84% of total imports.

In terms of the main suppliers, the United States, with a CAGR of +27.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average industrial diamond import price amounted to $X per kg, shrinking by -27.5% against the previous year. Overall, the import price faced a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 60%. The import price peaked 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 Belgium ($X per kg), while the price for South Africa ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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