MENA: Industrial Diamond Market 2023

Industrial Diamond Market Size in MENA

The MENA's industrial diamond market declined dramatically to $X in 2022, waning by X% against the previous year. In general, consumption, however, enjoyed a significant increase. As a result, consumption reached the peak level of $X, and then fell sharply in the following year.

Industrial Diamond Production in MENA

In value terms, industrial diamond production declined to $X in 2022 estimated in export price. In general, production, however, showed significant growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Industrial Diamond Exports

Exports in MENA

In 2022, industrial diamond exports in MENA declined to X carats, waning by X% against 2021. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The volume of export peaked at X carats in 2021, and then dropped in the following year.

In value terms, industrial diamond exports skyrocketed to $X in 2022. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X carats, which was approx. X% of total exports in 2022. Lebanon (X carats) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the diamonds (industrial) exports, with a CAGR of X% from 2012 to 2022. At the same time, Lebanon (X%) displayed positive paces of growth. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Lebanon saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest industrial diamond supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Lebanon ($X), with a X% share of total exports.

In the United Arab Emirates, industrial diamond exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per kg, jumping by X% against the previous year. In general, the export price, however, continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. The level of export peaked at $X per kg in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per kg), while Lebanon totaled $X per kg.

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

Industrial Diamond Imports

Imports in MENA

In 2022, the amount of diamonds (industrial) imported in MENA shrank remarkably to X carats, which is down by X% against the previous year's figure. Over the period under review, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X carats in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial diamond imports reduced sharply to $X in 2022. Overall, imports recorded a precipitous curtailment. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then declined remarkably in the following year.

Imports by Country

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

The United Arab Emirates 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 the United Arab Emirates decreased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported diamonds (industrial) in MENA.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at X%.

Import Prices by Country

The import price in MENA stood at $X per kg in 2022, waning by X% against the previous year. Over the period under review, the import price showed a mild setback. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per kg in 2021, and then dropped rapidly in the following year.

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

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

Source: IndexBox Platform

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