According to a recent market study published by Growth Market Reports, titled, “Diamond Powder Market by Product Sizes, Synthesis, Applications and Regions: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at US$ 262.7 Million in 2020 and is expected to grow at a moderate growth rate of 4.8% by the year 2028. The increasing product penetration in various industries is expected to fuel the market growth during the forecast period.

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The diamond powder market is fragmented based on product sizes, synthesis, applications and regions. On the basis of product sizes, the global diamond powder market is segmented into less than 500 mesh size, 501 to 1000 mesh size, and above 1000 mesh size. The less than 500 mesh size segment is considered to grow at a rapid pace, owing to its applications in polishing of hard materials.

Based on synthesis, the market is bifurcated into synthetic and natural. Furthermore, the synthetic segment is bifurcated into polycrystalline and monocrystalline. The synthetic segment is anticipated to hold a substantial share of the market during the forecast period, owing to its environmental-friendly property.

In terms of applications, the market is classified into lapping and polishing, sawing, cutting and grinding, electroplating, drilling, and others. The drilling segment is expected to hold a considerable share of the market, owing to hard surface applications of drills, such as tiles and stones. On the basis of region, the market is segmented into five major regions namely North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

North America is anticipated to hold a substantial share owing to the emergence of key players. Asia Pacific is considered as the promising region owing to the technological advancements in research and development activities.

The diamond powder market is expected to witness a decline in year-on-year growth for 2020 as compared to for previous year 2019. Interruption in the supply chain of valves across the globe due to the spread of COVID-19, has a moderate negative impact on the product sales. Thus, the import and export of valves has witnessed slight decrease in sales in 2020.

The partial closing of manufacturing units and retail centers in first and second quadrants of 2020 had a significant impact on the sales of the valves. Moreover, inadequate raw material supply and lack of available workforce for production of valves in the first and second quadrant of 2020 had hampered the market growth in 2020.

As per Growth Market Reports industry analyst Rajat Verma, “The Diamond Powder Market is anticipated to witness significant growth during forecast period 2020-2028. Diamond powder has high internal strength and toughness and is used in a number of applications such as polishing and lapping of tough and hard materials. Diamond powder is used in grinding wheels in aerospace and automotive industries, saw blades for cutting concrete and stone, exploration of oil and gas, and in drill bits for mining. The key players are engaged in advertising their valves through social media platforms including Instagram, Facebook, and Twitter.”

The Coronavirus disease 2019 (COVID-19) pandemic has highlighted economic disparities in the global demand in the crises of global interdependence and governance challenges. Epidemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. According to the current pandemic situation, strict measures are required for monitoring the situation, which in turn, affect businesses causing unanticipated short and long-term effects.

Consequently, epidemics and pandemics are problems for individual market and an enhancement of existing dynamics and limitations. In the long-term, COVID-19 can serve as another opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally. In current scenario, COVID-19 is hampering the production process of several manufacturing industries and businesses. Moreover, trade barriers are further reducing the demand-supply of various products and services.

Key Takeaways from the Study

  • The players including ILJIN DIAMOND CO., LTD., Element Six UK Ltd, Hyperion Materials & Technologies, Zhecheng Hongxiang Superhard Material Co., Ltd, Engis Corporation, and Dev Group hold a major market share of diamond powder Market in year 2020.
  • In terms of value, the gate valves segment accounted for substantial share of the market in 2020 and is expected to expand at a substantial CAGR during the forecast period.
  • In terms of value, the two-way valve segment held significant share of the market in 2020, as it is majorly used associated with high reliability, affordability, compact size, safety, and fast switching option.

Report Scope

Report Metric

Details

Market Value in 2020

US$ 262.7 Million

Market Growth Rate (from 2020 to 2028)

4.8%

Historical Data

2018, & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (US$ Million)

Market Segments

By Product Sizes, by Synthesis, by Applications, and by Region

Key Companies Profiled

ILJIN DIAMOND CO., LTD., Element Six UK Ltd, Hyperion Materials & Technologies, Zhecheng Hongxiang Superhard Material Co., Ltd, Engis Corporation, Dev Group among others.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Manufacturers, raw material suppliers, and distributors
  • Demand Side: Biotechnology and Pharmaceutical, Electronics and Semi-Conductors , Oil and Gas, Power and Energy, Others
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.
  • Associations and Industry Bodies: The Working Group of Diamond Experts (WGDE), European Powder Metallurgy Association (EPMA), Industrial Diamond Association and Industrial Supply Association.