Global Diamond Industry Report: Analysis and Forecast 2022-2027
Diamond Industry by Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices
The global diamond market reached a value of about 112.99 million tonnes in 2021. The industry is projected to grow at a CAGR of around 2.5% in the forecast period of 2022-2027 to reach a value of about 124.8 million tonnes by 2027.
The worldwide diamond industry research includes a detailed analysis of the industry’s main segments, trends, drivers, restraints, competitive landscape, and other important market factors. Diamonds are highly prized in the industrial sector because of their extreme hardness; they are particularly well-suited to cutting and grinding equipment. The increased need for jewellery applications, particularly in the Asia Pacific emerging economies like India and China, is driving up demand for the material. The worldwide diamond procurement research examines the industry in-depth, examining key segments, trends, drivers, restraints, the competitive landscape, and other important market factors. The largest category spender by region—in terms of volume, Russia and Australia are the world’s leading manufacturers.
Sorbitol: Industry Definition and Segmentation
Diamond is made up of atoms arranged in a diamond cubic crystal structure. It possesses the highest hardness and heat conductivity of any natural mineral, making it excellent for industrial cutting and polishing equipment. Natural diamonds are formed between 150 and 250 kilometres (93 and 155 miles) deep in the Earth’s mantle and are between 1 and 3.5 billion years old. In terms of volume, Russia and Australia are the world’s top producers. ALROSA, the Russian diamond mining organisation, had the largest market share of any diamond mining company in the world, with a market share of around 27.5 percent.
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The Diamond report comprises segments:
- By type – natural-diamond stone, diamond bort, and synthetic diamond
- By application – cutting, grinding, and polishing
- By end-use – industrial-construction mining services, stone cutting, polishing, machinery manufacturing, and others, and jewelry such as rings, necklaces, earrings, and others
- By distribution channel – online-company websites, e-commerce sites, and offline
- By region – North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
Snapshot of the Report
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
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The application of diamond in the industrial sector as an abrasive, and demand from industries such as metal machining, construction, and exploratory drilling is furthering the market growth. It is commonly utilised in construction applications such as hand sawing, wire sawing, and core drilling, creating higher demand.
Category Insight by Region
Diamonds in the Asia Pacific have increased due to rapid expansion in the jewellery sector, indicating that the industry is growing regionally. Furthermore, a resurgence of luxury purchases among Chinese millennials has assisted the rise in demand. A surge in the appeal of diamonds as a luxury item is driving the Middle East and Africa industry. Individual buying power and a demand for novel designs are anticipated to drive the diamond sector in South America.
The market for diamonds is being driven by the discovery of new resources. Greater spending on jewellery is being driven by the expanding middle-class population and the increased purchasing power of millennials and generation Z.
Best Procurement Practices
The global diamond industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major customers of diamond products across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Category Management Studies
Diamonds can be found in a variety of areas, including riverbeds, mines, old volcanoes, and deep sand. They can be extracted either mechanically or manually. Because several rocks are shifted to obtain only a few carats, diamonds are uncommon. Diamonds are formed more than 90 miles beneath the surface of the Earth, but volcanic activity brings them to the surface, making mining easier. After being broken down, the stones are raised to the surface and transported by truck to a processing plant. Professionals remove access stones and dirt here so they can view the diamond’s exact size and purity.
Until it is carried from the mine to a processing factory for cleaning and sorting, it may appear to be a boring piece of glass. Diamonds’ weight, color, and clarity are used to classify them. The diamond is then trimmed to maximise its value while keeping transparency. Because it is the most challenging material known to man, cutting it is a difficult task requiring specialised equipment, expertise, and technique. It is shaped and finished with the use of lasers. Diamonds that have undergone this rigorous process will be accompanied by paperwork. The diamond is graded using the 4Cs and given its official certification grade during the final examination.
Key Supplier Profiles included in the Diamond Industry Report
The key market players are De Beers, ALROSA, Applied Diamonds, Sumitomo Electric, Sino-Crystal, and Henan Haunghe Whirlwind.
The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments of the suppliernutms.
Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts. Our team of highly seasoned analysts undertake extensive research to provide our customers with the latest and up-to-date market reports, cost-models, price analysis, benchmarking, and category insights, which aid in simplifying the procurement process for our clientele. We work with a diverse range of procurement teams across industries to get real-time data and insights that can be effectively implemented by our customers. We also track the prices and production costs of an extensive range of goods and commodities, thus, providing you with the updated and reliable data. We, at Procurement Resource, with the help of the latest and cutting-edge techniques in the industry, help our clients understand the supply chain, procurement, and industry climate, so that they can form strategies which ensure their optimum growth.
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