CIS: Industrial Diamond Market 2023

Industrial Diamond Market Size in CIS

The CIS industrial diamond market dropped to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, showed strong growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Industrial Diamond Production in CIS

In value terms, industrial diamond production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a strong increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Industrial Diamond Exports

Exports in CIS

In 2022, shipments abroad of diamonds (industrial) increased by X% to X carats, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, industrial diamond exports skyrocketed to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Russia was the key exporter of diamonds (industrial) in the CIS, with the volume of exports reaching X carats, which was near X% of total exports in 2022. It was distantly followed by Armenia (X carats), mixing up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to industrial diamond exports from Russia stood at X%. At the same time, Armenia (X%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Armenia increased by X percentage points.

In value terms, Russia ($X) remains the largest industrial diamond supplier in the CIS, comprising X% of total exports. The second position in the ranking was held by Armenia ($X), with a X% share of total exports.

In Russia, industrial diamond exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in the CIS stood at $X per kg in 2022, falling by X% against the previous year. Over the period under review, the export price recorded a deep reduction. The growth pace was the most rapid in 2013 an increase of X%. As a result, the export price attained the peak level of $X per kg. From 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Russia ($X per kg), while Armenia amounted to $X per kg.

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

Industrial Diamond Imports

Imports in CIS

In 2022, the amount of diamonds (industrial) imported in the CIS surged to X carats, picking up by X% against the previous year. Overall, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, industrial diamond imports skyrocketed to $X in 2022. In general, imports, however, saw a pronounced reduction. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the one major importers of diamonds (industrial), namely Armenia, represented more than two-thirds of total import.

Armenia was also the fastest-growing in terms of the diamonds (industrial) imports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of Armenia increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Armenia ($X) constitutes the largest market for imported diamonds (industrial) in the CIS.

From 2012 to 2022, the average annual rate of growth in terms of value in Armenia totaled X%.

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per kg, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a abrupt curtailment. The growth pace was the most rapid in 2015 an increase of X%. As a result, import price attained the peak level of $X per kg. From 2016 to 2022, the import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Armenia.

From 2012 to 2022, the rate of growth in terms of prices for Armenia amounted to X% per year.

Source: IndexBox Platform

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