Top Companies in Industrial Diamond Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Industrial Diamond Market is projected to reach a value of USD 2.5 Billion by 2028 at a CAGR of 2.7% over the forecast period.
The Global Industrial Diamond Market is valued at USD 2.2 Billion in 2021 and is projected to reach a value of USD 2.5 Billion by 2028 at a CAGR of 2.7% over the forecast period. Due to the booming demand for industrial diamonds in the building and construction industry and a focus on metalworking activities in APAC, the Asia Pacific region now holds a dominant position in the global industrial diamond market. These elements continue to fuel market expansion in the APAC region.
Industrial diamonds are more in demand because of their better thermal conductivity, corrosion resistance, wear resistance, and strength. The industrial diamond market is driven by the booming use of industrial diamonds for cutting, grinding, polishing, and drilling for sectors including construction, automotive, aerospace, and others.
Nanodiamonds also have essential uses in bio-imaging, medication delivery, and other fields, impacting the market's expansion. In addition, the demand for industrial diamonds is rising due to the expanding infrastructure and construction projects and the burgeoning car industry. Therefore, the industrial diamonds sector has significant market opportunities due to these characteristics. However, due to variables like the demand and supply mismatch, the shutdown of numerous industries, and other lockdown restrictions, the COVID-19 pandemic disrupted market growth. However, the Industrial Diamond Market will likely expand over the projected period due to recovery and strong demand from key industries like construction, automotive, and others in the post-pandemic period.
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The Global Industrial Diamond market is dominated by well-known players such as Applied Diamond Inc. (US), Industrial Abrasives Limited (India), Advanced Diamond Solutions Inc. (US), Diamond Technologies Inc. (US), Hebei Plasma Diamond (China), Diamonex (US), Morgan Technical Ceramics (UK), Scio Diamond Technology Corporation (US), Novatek (Russia), Sumitomo Electric (Japan), and Worldwide Diamond Manufacturers Pvt. Ltd. (India) among others. Top firms are concentrating on manufacturing synthetic diamonds, making the market extremely competitive. In addition, to create lab-grown items, they are improving production capacity and conducting R&D operations.
Let’s Take a Look at the Top Market Players that are Captivating the Industrial Diamond Market
- Applied Diamond Inc. (US)
Advanced Diamond Technologies Inc. produces thin film diamond products. The Company conducts research and development on diamond films, seals, and other cutting-edge products for industrial, medicinal, electronic, and water treatment applications.
- Industrial Abrasives Limited (India)
Industrial Abrasives Limited, a company that provides industrial diamonds for industrial applications, was founded in 1980. Its main customers are diamond tool makers all around the world. For all sorts of diamond tooling, including processed longs and drilling materials, diamond grit, and diamond micron powders, the Company specializes in providing rough industrial diamonds. For other specialized tool types, they also offer blanks and segments made of MCD (Monocrystalline Diamond), CVD Diamond (Chemical Vapour Deposition), PCD (Polycrystalline Diamond), and PCBN (Polycrystalline Cubic Boron Nitride).
- Advanced Diamond Solutions Inc. (US)
Diamond films are created and used for industrial, electrical, and medicinal purposes by Advanced Diamond Technologies Inc. For MEMS product development and UNCD product prototype, it provides AFM probes, ultrananocrystalline diamond seals, and ultrananocrystalline diamond wafers. Additionally, the business offers coating, MEMS, and application development services.
- Hebei Plasma Diamond (China)
Hebei Plasma Diamond Technology, founded on the success of the "863" Programs of China jointly completed by the Academy of Sciences of Hebei province and the University of Science and Technology Beijing, specializes in producing large-area, high-quality CVD freestanding diamond films.
- Diamonex (US)
Diamonex offers coating services, techniques, and equipment for performance diamond and diamond-like carbon products.
- Morgan Technical Ceramics (UK)
In 2008, Morgan Technical Ceramics Inc. was established. Making clay firebricks and other heat-resistant clay goods is one of the company's commercial ventures.
- Scio Diamond Technology Corporation (US)
The SCIO Diamond Technology Corporation is the owner of cultured diamond technology. Utilizing the company's technology, one can produce single-crystal diamonds in a lab. SCIO plans to sell the diamonds on the gem market and for industrial, biomedical, optoelectronic, alternative energy, and computing uses.
- Sumitomo Electric (Japan)
Electric lines, cables, and the equipment used are all produced by Sumitomo Electric. The company's products include optical fibers, wire harnesses, antennae for broadcasting stations, and electric monitoring systems. In addition, Sumitomo Electric manufactures printed circuit boards, disc brakes, and antilock braking systems for autos.
- Worldwide Diamond Manufacturers Pvt. Ltd. (India)
Worldwide Diamond Manufacturers Pvt. Ltd. (WDM) is a 100% export-oriented firm founded in Visakhapatnam, India, in 1997. It is situated in the VSEZ (Visakhapatnam Special Economic Zone). They are pioneers in the field of contract diamond cutting and polishing activities. The business employs cutting-edge technology and has a highly skilled staff that can provide services for various diamond sizes, shapes, models, quality, and hues.
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