Africa: Industrial Diamond Market 2024

Industrial Diamond Market Size in Africa

The African industrial diamond market surged to $X in 2022, growing by X% against the previous year. In general, consumption recorded buoyant growth. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Industrial Diamond Production in Africa

In value terms, industrial diamond production expanded significantly to $X in 2022 estimated in export price. Overall, production enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Industrial Diamond Exports

Exports in Africa

In 2022, overseas shipments of diamonds (industrial) were finally on the rise to reach X carats after three years of decline. Over the period under review, exports recorded notable growth. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X carats. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, industrial diamond exports surged to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

Angola represented the main exporter of diamonds (industrial) in Africa, with the volume of exports reaching X carats, which was approx. X% of total exports in 2022. Botswana (X carats) ranks second in terms of the total exports with a X% share, followed by Zimbabwe (X%) and South Africa (X%). Democratic Republic of the Congo (X carats) and Central African Republic (X carats) took a little share of total exports.

Angola experienced a relatively flat trend pattern with regard to volume of exports of diamonds (industrial). At the same time, Botswana (X%), Zimbabwe (X%), Democratic Republic of the Congo (X%) and South Africa (X%) displayed positive paces of growth. Moreover, Botswana emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. By contrast, Central African Republic (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Botswana, Zimbabwe, South Africa and Democratic Republic of the Congo increased by X, X, X and X percentage points, respectively.

In value terms, Angola ($X) remains the largest industrial diamond supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a X% share of total exports. It was followed by South Africa, with a X% share.

In Angola, industrial diamond exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Zimbabwe (X% per year) and South Africa (X% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per kg, rising by X% against the previous year. Over the period under review, the export price saw modest growth. The pace of growth appeared the most rapid in 2019 when the export price increased by X%. The level of export peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per kg), while Botswana ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Angola (X%), while the other leaders experienced mixed trends in the export price figures.

Industrial Diamond Imports

Imports in Africa

In 2022, the amount of diamonds (industrial) imported in Africa reduced remarkably to X carats, waning by X% against the previous year. In general, imports, however, posted buoyant growth. The growth pace was the most rapid in 2015 when imports increased by X%. As a result, imports reached the peak of X carats. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, industrial diamond imports surged to $X in 2022. Over the period under review, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Botswana was the major importing country with an import of about X carats, which accounted for X% of total imports. It was distantly followed by South Africa (X carats), making up a X% share of total imports. Burundi (X carats) held a relatively small share of total imports.

Botswana was also the fastest-growing in terms of the diamonds (industrial) imports, with a CAGR of X% from 2012 to 2022. At the same time, South Africa (X%) displayed positive paces of growth. Burundi experienced a relatively flat trend pattern. Botswana (X p.p.) and Burundi (X p.p.) significantly strengthened its position in terms of the total imports, while South Africa saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Botswana ($X) constitutes the largest market for imported diamonds (industrial) in Africa, comprising X% of total imports. The second position in the ranking was held by South Africa ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Botswana stood at X%. In the other countries, the average annual rates were as follows: South Africa (X% per year) and Burundi (X% per year).

Import Prices by Country

In 2022, the import price in Africa amounted to $X per kg, increasing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per kg in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per kg), while Burundi (less than $X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%).

Source: IndexBox Platform

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