Report Update Nov 1, 2024

Republic of Korea - Diamonds (Industrial) - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Industrial Diamond Market 2024

Industrial Diamond Market Size in Republic of Korea

In 2021, the South Korean industrial diamond market increased by 19% to $X for the first time since 2015, thus ending a five-year declining trend. Over the period under review, consumption showed a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Industrial Diamond Production in Republic of Korea

In value terms, industrial diamond production soared to $X in 2021 estimated in export price. In general, production posted strong growth. The pace of growth appeared the most rapid in 2013 when the production volume increased by 237% against the previous year. Industrial diamond production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Industrial Diamond Exports

Exports from Republic of Korea

In 2021, shipments abroad of diamonds (industrial) decreased by -59.3% to X tons, falling for the sixth consecutive year after two years of growth. Over the period under review, exports saw a sharp descent. The pace of growth appeared the most rapid in 2014 with an increase of 10%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, industrial diamond exports declined rapidly to $X in 2021. Overall, exports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 13%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for industrial diamond exports from South Korea, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to -28.0%.

In value terms, the UK ($X) also remains the key foreign market for industrial diamond exports from South Korea.

From 2012 to 2021, the average annual growth rate of value to the UK stood at -17.7%.

Export Prices by Country

The average industrial diamond export price stood at $X per kg in 2021, surging by 16% against the previous year. Overall, the export price posted a strong increase. The most prominent rate of growth was recorded in 2019 an increase of 59%. The export price peaked in 2021 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2012 to 2021, the rate of growth in terms of prices for Belgium amounted to +31.4% per year.

Industrial Diamond Imports

Imports into Republic of Korea

In 2021, overseas purchases of diamonds (industrial) were finally on the rise to reach X tons for the first time since 2014, thus ending a six-year declining trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 74% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, industrial diamond imports expanded markedly to $X in 2021. In general, imports, however, continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2013 when imports increased by 46%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Botswana (X tons), Belgium (X tons) and the UK (X tons) were the main suppliers of industrial diamond imports to South Korea, with a combined 81% share of total imports.

From 2012 to 2021, the biggest increases were in Belgium (with a CAGR of +68.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Belgium ($X) constituted the largest supplier of industrial diamond to South Korea, comprising 44% of total imports. The second position in the ranking was taken by Botswana ($X), with a 21% share of total imports. It was followed by the UK, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Belgium totaled +75.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Botswana (+12.8% per year) and the UK (-13.5% per year).

Import Prices by Country

In 2021, the average industrial diamond import price amounted to $X per kg, growing by 14% against the previous year. Overall, the import price, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2015 when the average import price increased by 31% against the previous year. The import price peaked at $X per kg in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per kg), while the price for Botswana ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+32.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for diamonds (industrial) in the world?

The country with the largest volume of industrial diamond consumption was the United Arab Emirates, accounting for 59% of total volume. Moreover, industrial diamond consumption in the United Arab Emirates exceeded the figures recorded by the second-largest consumer, Ireland, threefold. China ranked third in terms of total consumption with a 3.4% share.

What are the largest producers of diamonds (industrial) in the world?

Angola constituted the country with the largest volume of industrial diamond production, accounting for 25% of total volume. Moreover, industrial diamond production in Angola exceeded the figures recorded by the second-largest producer, China, threefold. Canada ranked third in terms of total production with an 8.1% share.

What are the leading suppliers of diamonds (industrial) to Republic of Korea?

In value terms, Belgium, Botswana and South Africa constituted the largest industrial diamond suppliers to South Korea, with a combined 63% share of total imports.

What are the leading importers of diamonds (industrial) from Republic of Korea?

In value terms, the UK remains the key foreign market for industrial diamond exports from South Korea, comprising 67% of total exports. The second position in the ranking was occupied by Belgium, with a 19% share of total exports. It was followed by Vietnam, with a 7.6% share.

What is the average export price for diamonds (industrial) in Republic of Korea?

The average industrial diamond export price stood at $140 per kg in 2021, picking up by 3.4% against the previous year.

What is the average import price for diamonds (industrial) in Republic of Korea?

The average industrial diamond import price stood at $48 per kg in 2021, which is down by -8.4% against the previous year.

This report provides an in-depth analysis of the industrial diamond market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 08992200 - Industrial diamonds, unworked or simply sawn, cleaved or bruted, pumice stone, emery, natural corundum, natural garnet and other natural abrasives

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023