Drop in Prices Anticipated for Synthetic Diamond Products (posted 7/29/09)
According to Merchant Research & Consulting Ltd.’s “Industrial Diamond and Industrial Diamond Market Review 2009,” world industrial diamond consumption is expected to continue to grow. Constant dollar prices for synthetic diamond products, including CVD diamond films, will decline due to more cost-effective production technologies and high competition between low-cost producers in China and Russia.
Industrial diamond is currently produced in 31 countries, and the total worldwide industrial diamond output is estimated to be around 645 million carats. Congo (Kinshasa) is the leading producing country, followed by Australia and Russia. These three countries produce more than 73% of the world’s natural industrial diamond.
Both synthetic and natural diamonds have industrial uses. Synthetic industrial diamond is superior to its natural diamond counterpart because its properties can be tailored to specific applications and it can be produced in large quantities. Thus, synthetic diamond amounts to 88% of the industrial diamond used in the world.
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