Global Diamond Mining Market: Introduction
- Diamond mining is the mining of diamonds from identified deposits. A majority of the world’s diamond mining is concentrated in nine countries, with their share in the global production (in physical terms) being as high as 99%. The world’s leading producers of natural diamonds are Russia, the Democratic Republic of Congo (DRC), and Botswana, all together accounting over 60% of the global diamond production.
Key Drivers of Global Diamond Mining Market
- High demand for diamond jewelry from emerging markets such as China, India, Brazil, and Thailand is driving the global diamond mining market
- Rising demand for diamonds for use in industrial applications also boosts the global market. Diamonds that are not of commercial quality are used in industrial applications, such as grinding wheels for drilling, cutting, polishing applications, electronic chips, and laser components. Increasing demand for high-quality products from consumers has prompted companies across different industries to adopt high-quality cutting tools in their manufacturing operations.
- However, high maintenance costs associated with the machinery used in the diamond mining process is one of the major challenges faced by market players. Furthermore, environmental issues arising out of diamond mining are expected to pose challenges for the global market during the forecast period.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report
Gem Grade Segment to Witness Attractive Opportunities
- The global diamond mining market can be segmented based on grade, application, and region
- In terms of grade, the global diamond mining market can be divided into the following segments: gem grade and industrial grade. The gem grade segment is expected to expand at the maximum CAGR during the forecast period. Most manufacturers of luxury goods are major end-users of gem-grade diamonds. Consumer goods manufacturers also use gem-grade diamonds for decorating their products such as watches and handbags and for designing company logos.
- In terms of application, the global diamond mining market can be divided into the following segments: jewelry making, consumer goods, industrial, and others. The jewelry making segment is expected to expand at the maximum CAGR during the forecast period. Rising preference for branded diamond jewelry presents a growth opportunity for the market, both in developed and developing countries.
North America to Hold a Major Share of Global Diamond Mining Market
- In terms of region, the global diamond mining market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Middle East & Africa dominated the global diamond mining market in 2019. The market in the region is expected to expand at a prominent CAGR during the forecast period. Africa is a leading producer of diamonds in the world. Currently, Africa accounts for 50% of the diamonds produced in the world. Easing of trade restrictions and increasing investments in new diamond mining sites in the region would drive the diamond mining market in Middle East & Africa in the next few years. Angola, Namibia, DRC, and Zimbabwe are key markets for diamond mining in Africa.
- Europe and Latin America are other major regions of the global diamond mining market. Russia is the top producer of diamond across the globe.
Expanding operations in future? To get the perfect launch ask for a custom report
Key Players Operating in Global Diamond Mining Market
The global diamond mining market is highly concentrated, with the top manufacturers accounting for approximately 40%–45% of the market share. A few key players operating in the global diamond mining market are:
- De Beers
- Dominion Diamond
- Lucara Diamond
- Petra Diamonds
- Rio Tinto
- Stornoway Diamond
- Archon Minerals
- Lonrho Mining
- Diamcor Mining
- North Arrow Minerals
- Debswana Diamond
- Rockwell Diamonds
Key Market Developments
- In March 2019, Debswana Diamond, a 50:50 joint venture between the Government of Botswana and De Beers Group, announced a project to extend the life of the Jwaneng mine, one of the world’s most valuable diamond mines
- In September 2019, Botswana Diamonds, an Ireland-based exploration and project development company, and its associate i.e. Vutomi signed an agreement with Eurafrican Diamond Corporation (EDC) for the Marsfontein farm. The agreement enabled EDC to mine and process identified deposits on the Marsfontein Mining Permit, with 25% of the pre-tax revenue from high value ‘Special Stones’, weighing more than or equal to 10.8 carats or valued at more than US$ 8,000 per carat.
Global Diamond Mining Market: Research Scope
Global Diamond Mining Market, by Grade
- Gem Grade
- Industrial Grade
Global Diamond Mining Market, by Application
- Jewelry Making
- Consumer Goods
Global Diamond Mining Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.