U.S.: Industrial Diamond Market 2024

Industrial Diamond Market Size in the U.S.

The U.S. industrial diamond market was finally on the rise to reach $X in 2021, after four years of decline. In general, consumption continues to indicate significant growth. Industrial diamond consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Industrial Diamond Production in the U.S.

In value terms, industrial diamond production surged to $X in 2021. In general, production recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 334% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Industrial Diamond Exports

Exports from the U.S.

In 2021, overseas shipments of diamonds (industrial) increased by 0.6% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 29%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, industrial diamond exports skyrocketed to $X in 2021. In general, exports, however, showed a abrupt setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X tons), Japan (X tons) and Belgium (X tons) were the main destinations of industrial diamond exports from the United States, together comprising 73% of total exports. These countries were followed by South Korea, the UK, Mexico, India, Israel, Ireland, Indonesia, Taiwan (Chinese) and China, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +4.9%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for industrial diamond exports from the United States, comprising 57% of total exports. The second position in the ranking was taken by Belgium ($X), with a 12% share of total exports. It was followed by Canada, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Japan stood at -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-21.7% per year) and Canada (-4.5% per year).

Export Prices by Country

The average industrial diamond export price stood at $X per kg in 2021, surging by 27% against the previous year. In general, export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial diamond export price decreased by -7.4% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 33%. The export price peaked 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 for the major overseas markets. In 2021, the country with the highest price was Japan ($X per kg), while the average price for exports to Ireland ($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 Taiwan (Chinese) (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Diamond Imports

Imports into the U.S.

In 2021, the amount of diamonds (industrial) imported into the United States skyrocketed to X tons, jumping by 22% against 2020 figures. In general, imports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 24%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, industrial diamond imports reached $X in 2021. Over the period under review, imports, however, showed a significant contraction. The pace of growth appeared the most rapid in 2014 with an increase of 4.7% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of industrial diamond to the United States, with a 64% share of total imports. Moreover, industrial diamond imports from India exceeded the figures recorded by the second-largest supplier, South Africa (X tons), threefold. The third position in this ranking was held by Russia (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-17.5% per year) and Russia (+19.3% per year).

In value terms, South Africa ($X) constituted the largest supplier of industrial diamond to the United States, comprising 55% of total imports. The second position in the ranking was taken by Russia ($X), with a 14% share of total imports. It was followed by India, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from South Africa stood at -13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+21.8% per year) and India (-9.5% per year).

Import Prices by Country

In 2021, the average industrial diamond import price amounted to $X per kg, dropping by -16.6% against the previous year. In general, the import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2016 when the average import price increased by 45% against the previous year. The import price peaked at $X per kg in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Botswana (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :