IndustrialDiamondis made from diamonds used in industrial processes like drilling,cutting, polishing, etc. This type of diamond is used when one speaksof industrial diamonds. The term refers to those diamonds used inindustries where one would expect hard wear and tear to take placessuch as drill bits, machine parts, turbines, and aerators forexample. One of the primary applications of industrial diamonds is inthe automobile and construction industries, typically for cuttingpurposes. Over the years, both the construction and automotive sectorhave witnessed massive growth, in both developed and emergingeconomies. As per the India Brand Equity Foundation (IBEF), India isexpected to become the world’s third-largest construction market by2022. According to the same source, India plans to spend around US$1.4 trillion on infrastructure projects through the NationalInfrastructure Pipeline (NIP) from 2019 to 2023. Hence, such factorscan stimulate growth of the industrial diamond market.
Asfar as geographical impact is concerned, North America is gainingmajor traction in the IndustrialDiamond Marketsince there is a high demand for industrial diamonds from majorend-use industries such as construction, oil & gas, andautomotive. On the contrary, Asia Pacific is another key regionexhibiting promising signs due to the availability of low-cost laborand land in the region. Recently, in December 2019, Alrosa, a diamondmining company, announced to start trial mining at a new selection ofits Luaxe deposits in Angola by mid-2020.
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