Global Industrial Diamond Market: Overview
Industrial diamonds possess several characteristics such as high wear resistance, corrosion resistance, strength, and thermal conductivity. Owing to these factors, their demand is high for various industrial purposes. Various studies indicate that about 80% of the global diamond produced is used for industrial applications. Synthetic industrial diamonds are preferred to natural diamonds as their physical properties can be modified according to requirements. Moreover, the issues related to human rights exploitation during the mining of natural diamonds is triggering the demand for synthetic diamonds.
The report provides a 360-degree view of the global industrial diamonds market. It does so by offering valuable insights into several critical parameters of the market including its dynamics, geographical landscape, technological developments, and competitive landscape. Information from a number of press releases, presentations, white papers, paid databases, and journals has been collected for compilation of this report.
Global Industrial Diamond Market: Drivers and Restraints
The burgeoning demand for abrasives for various purposes such as grinding, cutting, and polishing is among the primary factors driving the global industrial diamond market. Some of the major end-user industries are construction, transportation, automotive, and electronics. The flourishing growth of these industries is, therefore, working in favor of the growth of the market. Moreover, factors such as the development of new infrastructure along with repair of old highways and the growing production of automobiles are augmenting the market.
The global industrial diamond market is highly influenced by the global economic conditions. Therefore, volatile prices can adversely affect the overall revenue generation of the market. Furthermore, the growth of the market is threatened by the presence of cheaper substitutes. Nevertheless, continuous research and development activities for lowering production costs and increasing application scope of industrial diamonds is creating ample growth opportunities for the market. The rising adoption of nanodiamonds in medical applications is likely to bode well for the growth of the market in the forthcoming years.
Global Industrial Diamond Market: Geographical Segmentation
On the basis of geography, the global industrial diamond market can be fragmented into Asia Pacific, North America, Europe, and Rest of the World. Asia Pacific will be a lucrative market throughout the forecast period, with China being a site of high growth rate. The growth of the region can be attributed to the improving economic conditions and increasing investments industrial and manufacturing activities in emerging countries such as China and India. Moreover, China is among the leading producers of synthetic industrial diamonds globally.
North America will be command a significant share in the market throughout the same period. The U.S. is expected to be a major contributor to the growth of the region. The growing demand for nanodiamonds is propelling the growth of the region. The growth of the Rest of the World region is driven by the rapid industrialization in Latin America. Brazil is one of the leading sources of natural industrial diamonds.
Global Industrial Diamond Market: Competitive Landscape
Players in the global industrial diamond market are implementing nanoscience in their manufacturing processes in order to gain a competitive edge over their contemporaries. Some of the key players in the market are Applied Diamond Inc., Industrial Abrasives Limited, Advanced Diamond Solutions Inc., Diamond Technologies Inc., Hebei Plasma Diamond, Diamonex, Morgan Technical Ceramics, Scio Diamond Technology Corporation, Novatek, Sumitomo Electric, and Worldwide Diamond Manufacturers Pvt. Ltd.
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.