Diamond is a hard material comprising pure carbon atoms arranged in a 3D crystalline structure. It is a hard yet slightly brittle, shiny material having numerous industrial applications. Diamond offers its key features such as its high melting point, which measures around 4000° C, its luster and shine used to make jewellery on a large scale, its excellent thermal conductivity, resistance to electricity, and its stiffness due to C-C covalent bonds which are used on a global scale.
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It occurs naturally and is extracted through mining processes. Mining processes such as pipe mining, open-pit mining, and underground or marine mining are a few methods used to extract Diamonds. However, synthetic, artificial, or lab generated is a common alternative used to produce artificial Diamonds used commercially.
The United States, Hong Kong, and the United Arab Emirates are the key importer countries that import Diamonds. On the other hand, India, Hong Kong, and the United States are the key exporting countries for the same.
Key Details About the Diamond Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Diamond price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Diamond Price chart, including India Diamond price, USA Diamond price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Diamond Price Trend:
Diamonds are the most demanded as well as one of the most expensive materials, used in the global market for various purposes. It is a highly shiny and lustrous material, which is used as a gem to structure and design a variety of jewelleries. The material is hard yet slightly brittle; hence, it can be crafted and polished accordingly.
Moreover, it is used for grinding and cutting applications of very hard materials such as glass, and it is also used for optical devices such as lasers. Diamonds have very well-bonded carbon atoms, which makes it a hard material to be used for drilling purposes. It is used to drill and grind surfaces in the automotive industries, military troops, and mining sites. A tiny piece of Diamond is added to the drill bit or saw edges while adding a good grip to the tools for cutting hard materials.
Synthetic Diamonds have been in use commercially since 1960. The production of computer chips, constructions, mining services, machinery productions, stone cutting, gem explorations, astronomy, surgery, high-power switches, transistors, several electronic devices, grinding wheels, wire-drawing dies, and drills uses synthetic Diamonds in its production on a large scale.
Key Players:
- De Beers Group (Anglo American)
- Applied Diamond Inc
- Industrial Diamond Laboratories, Inc
- Lucara Diamond Corp. (Lundin Group of Companies)
- Petra Diamonds Limited
- Gem Diamonds
News and Recent Developments
- Date: September 2, 2022- A sudden fall in the Diamond exports in India’s Diamond market as China and Beijing withdrew their Zero-Covid policy. The market witnessed a decrease of about 13.45% for the first time in 2022.
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