Views:6 Author:Site Editor Publish Time: 2019-05-22 Origin:Site
Since the early 21st century, diamonds have been increasingly applied in industrial processes. They have been important in several high-tech applications in the global industries. There have been recorded successes and breakthroughs in the lasers and semiconductor industries owing to the growth in the synthetic-diamond manufacturing. With the introduction of the synthetic diamonds in the industrial diamond market, there is distractions in the sales of conflict diamonds which are produced in Some African countries (those politically unstable) where the proceeds from such sales are used by their government to fund violent conflicts.
Basically, industrial diamonds are used for grinding, lapping cutting, and polishing. A good example is the diamond drill bits which are applied in the cutting of shapes from materials. The Nanodiamonds commonly known as the diamond powder is used as lubricant additives, in the manufacture of flat-screen televisions, other computer components. They are also applied in the medical field for healthcare purposes.
Industrial diamonds are valued based on their ability to conduct heat and their hardness unlike ornamental diamonds, which are valued for their color, quality, and cut. About 80% of all mined diamonds occur as gem stones which are unstable. However, industrial diamond market is occupied by the industrial diamonds.
Artificial Creation of Synthetic diamonds involves setting up laboratory conditions that stimulation the natural process of diamond formation. From its inception in the 1950s till now over 5 billion carats have been manufactured. These synthetic diamonds are primarily utilized as industrial diamonds. They have been applied in the production of diamond drill bit sets which have found wide range application in the manufacturing industries. Due to the fact that diamond manufacturers have control over various properties of the diamond such as electron mobility, heat conductivity, hardness and more, manufactured diamonds can be more desirable for industrial purposes.
About 95% of industrial diamonds are used for sanding, cutting, polishing and drilling (as in the diamond bit drill bit). However, they have other applications in optics and in high-tech industries where the diamonds are of high thermal conductivity.
There is continuous growth in the synthetic diamonds market as most research is channeled to the high thermal conductivity synthetic diamonds.
The industrial-diamond market strength is vulnerable to the volatile global economy. Industrial diamond producers face challenges and risks from the heat of political strife particularly in those areas where the diamonds are mined. As at today, African countries where diamond is mined are always faced with armed conflicts from local militia as seen in Botswana. However, the advent of the synthetic diamonds represent a threat to the natural diamond producers as more and more consumers are comfortable with them.
It is estimated that the global industrial Diamond Market is worth over $27 billion though there was a drop in the growth rate between 2008 and 2013 due to global economic recession. However, in most developed countries like the US and Canada, growth rate is expected to be stable.
The equipment used in diamond drilling plays major role in the industrial diamond market.