How big is the Industrial Diamond Market | Size, Scope & Future Trends 2025

Q: What is the industrial diamond market size?

The industrial diamond market was valued at USD 4.1 billion in 2024 and is expected to surpass USD 6.4 billion by 2031.

Q: What are the key trends in the industrial diamond market?

Key trends include the rise of lab-grown diamonds and the growing use of industrial diamonds in electronics and optical components.

Q: Who are the major players in the industrial diamond market?

Leading companies include Element Six, ILJIN Diamond Co. Ltd., Sandvik AB, and Zhengzhou Sino-Crystal Diamond Co., Ltd.

Q: What are the challenges facing the industrial diamond market?

Challenges include high production costs of synthetic diamonds and regulatory issues in mining sectors.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA6582

Publication Date: Jul 2025

How Big Is the Industrial Diamond Market?

According to 6Wresearch internal database and industry insights, GLobal industrial diamond market was valued at USD 22.1 billion in 2024 and is projected to reach over USD 30.6 billion by 2031, growing at a CAGR of 9.3% during the forecast period.

This growth is influenced by growing adoption of synthetic diamonds in precision cutting, drilling, and polishing operations across the mining, construction, and electronics industries. Moreover, the surge in semiconductor and optoelectronics production further supports market demand for high-grade diamond abrasives.

Key Growth Factors of the Industrial Diamond Market

Widespread adoption of synthetic diamonds for machining and high-precision tools
Construction sector growth requiring hard materials for cutting and drilling
Electronics industry expansion demanding thermal conductivity and wear resistance
Unconventional material processing in aerospace and defense sectors
Upward shift from natural to cost-efficient synthetic diamonds
Technological advancements in HPHT and CVD diamond synthesis techniques

Industrial Diamond Market Trends

Industrial Diamond Market is witnessing a significant shift toward lab-grown synthetic diamonds, especially those produced via Chemical Vapor Deposition (CVD) due to their consistency and purity. The use of industrial diamonds in thermal management systems for electronics, as well as in ultra-precision machining tools for aerospace components, is accelerating. Furthermore, green mining practices and recycling of diamond tools are becoming essential trends as sustainability pressures mount across manufacturing industries.

Emerging Developments in Industrial Diamond Market

Emerging innovations in the Industrial Diamond Industry include the integration of AI-powered diamond grading systems in production, enabling better quality control. Startups and major players are investing in nano-diamond coatings to enhance tool durability.

Additionally, cross-industry applications such as in biomedical implants and wearable sensors are opening new avenues for growth. Government focus on indigenizing tool manufacturing is also catalyzing domestic demand for industrial diamonds.