Production of rough diamondsCurrent market and technology trends
Summary: The production of rough diamonds already reached a peak value more than 10 years ago. Predictions see a continuation of the market downturn for mined diamonds up to 2030. Nevertheless, the medium- and long-term market outlook is good, especially in view of the rising prices and improved technologies. This article provides an insight into current market developments and explains important trends.
In 2016, the diamond jewelry sales market was at a level of US$ 80 billion while the market for industrial diamonds was US$ 25 billion. The volume relations, on the other hand, are significantly different. While only around 23 million carats (or 4.6 t) of cut and polished diamonds went into the jewelry market, some 16 billion carats or 3200 t of diamonds were produced for the industrial market. Only 12.5 t of the mined rough diamonds, i.e. less than 0.01 %, go into the production of industrial diamonds, 99.9 % of which are produced synthetically. In the meantime, the synthetic...