Northern America: Industrial Diamond Market 2024

Industrial Diamond Market Size in Northern America

The North American industrial diamond market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Industrial Diamond Production in Northern America

In value terms, industrial diamond production rose markedly to $X in 2021 estimated in export price. The total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -30.4% against 2016 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 21% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Industrial Diamond Exports

Exports in Northern America

In 2021, overseas shipments of diamonds (industrial) were finally on the rise to reach X tons after three years of decline. Overall, exports, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 29% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, industrial diamond exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 26%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States prevails in exports structure, reaching X tons, which was near 98% of total exports in 2021. Canada (X tons) took a relatively small share of total exports.

Exports from the United States decreased at an average annual rate of -15.8% from 2012 to 2021. At the same time, Canada (+14.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +14.1% from 2012-2021. Canada (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -2.2% from 2012 to 2021, respectively.

In value terms, the United States ($X) remains the largest industrial diamond supplier in Northern America, comprising 96% of total exports. The second position in the ranking was taken by Canada ($X), with a 3.7% share of total exports.

In the United States, industrial diamond exports contracted by an average annual rate of -12.3% over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per kg in 2021, surging by 21% against the previous year. Export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial diamond export price decreased by -6.5% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 29% against the previous year. Over the period under review, the export prices hit record highs at $X per kg in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Canada ($X per kg), while the United States amounted to $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.1%).

Industrial Diamond Imports

Imports in Northern America

In 2021, approx. X tons of diamonds (industrial) were imported in Northern America; surging by 12% compared with 2020 figures. Overall, imports, however, continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 19%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, industrial diamond imports rose slightly to $X in 2021. In general, imports, however, faced a deep downturn. The pace of growth was the most pronounced in 2014 when imports increased by 4.4% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States was the largest importing country with an import of about X tons, which accounted for 89% of total imports. It was distantly followed by Canada (X tons), generating an 11% share of total imports.

The United States was also the fastest-growing in terms of the diamonds (industrial) imports, with a CAGR of -14.3% from 2012 to 2021. Canada (-17.3%) illustrated a downward trend over the same period. The United States (+3.6 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -3.6% from 2012 to 2021, respectively.

In value terms, the United States ($X) constitutes the largest market for imported diamonds (industrial) in Northern America, comprising 78% of total imports. The second position in the ranking was held by Canada ($X), with a 22% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United States totaled -20.9%.

Import Prices by Country

The import price in Northern America stood at $X per kg in 2021, shrinking by -7.7% against the previous year. Overall, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when the import price increased by 41% against the previous year. As a result, import price attained the peak level of $X per kg. From 2017 to 2021, the import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Canada ($X per kg), while the United States totaled $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+11.0%).

Source: IndexBox Platform

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