Industrial Diamond Market is gaining major traction with Alrosa, a diamond mining company, announcing to start trial mining at a new selection of its Luaxe deposits in Angola by mid-2020

 


Industrial Diamond is made from diamonds used in industrial processes like drilling, cutting, polishing, etc. This type of diamond is used when one speaks of industrial diamonds. The term refers to those diamonds used in industries where one would expect hard wear and tear to take places such as drill bits, machine parts, turbines, and aerators for example. One of the primary applications of industrial diamonds is in the automobile and construction industries, typically for cutting purposes. Over the years, both the construction and automotive sector have witnessed massive growth, in both developed and emerging economies. As per the India Brand Equity Foundation (IBEF), India is expected to become the world’s third-largest construction market by 2022. According to the same source, India plans to spend around US$ 1.4 trillion on infrastructure projects through the National Infrastructure Pipeline (NIP) from 2019 to 2023. Hence, such factors can stimulate growth of the industrial diamond market.

As far as geographical impact is concerned, North America is gaining major traction in the Industrial Diamond Market since there is a high demand for industrial diamonds from major end-use industries such as construction, oil & gas, and automotive. On the contrary, Asia Pacific is another key region exhibiting promising signs due to the availability of low-cost labor and land in the region. Recently, in December 2019, Alrosa, a diamond mining company, announced to start trial mining at a new selection of its Luaxe deposits in Angola by mid-2020.

Industrial Diamond is made from diamonds used in industrial processes like drilling, cutting, polishing, etc. This type of diamond is used when one speaks of industrial diamonds. The term refers to those diamonds used in industries where one would expect hard wear and tear to take places such as drill bits, machine parts, turbines, and aerators for example. Despite these advantageous factors, high cost of industrial diamonds both natural and synthetic remains one of the major challenges in the development of the market. Although there are cheaper alternatives available and can be used in low-cost operations, they do not provide the same quality as industrial diamonds, which can impede growth of the Industrial Diamond Market in the near future.

The second aspect of industrial-grade diamonds is their superior optical clarity. All other aspects, i.e. hardness, color, cut, clarity are pretty much the same as natural gemstones. Apart from the aforementioned industries, the demand for abrasives has increased significantly in various other industries. Diamonds offer long service life as compared to other cutting and polishing materials. As a result of this, industrial diamonds are being extensively used in oil & gas industries for drilling applications. Therefore, these factors potentially accelerate growth of the industrial diamond market.


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