# Diamonds: Overview

Jewellery, chipmaking and the saws that cut roads

Source page: https://www.materialinsights.org/commodities/diamond/overview/

What this tab covers What the commodity is used for, why, in what volumes and with what alternatives, and its chain from mine or field to end user. Also the latest price moves, top recent news, three things to know, and buttons into each tab.

#### Key uses

| Use | Share | Annual volume | Why this commodity | Alternatives |
|---|---|---|---|---|
| **Natural gem diamonds for jewellery** | n/a | about 69 million carats of gem-quality rough mined in 2025basis | Diamond is the hardest natural material, takes a high polish and disperses light strongly, so it keeps its sparkle for generations. Scarcity, certification and decades of marketing support a price per carat thousands of times that of industrial grit. The United States takes over half of world consumer diamond jewellery demand (Zimnisky 2025). USGS MCS 2026, Gemstones; Paul Zimnisky in Mining.com (Feb 2024) and GJEPC Solitaire (2025) | Laboratory-grown diamonds (about 20% of diamond jewellery demand by 2024, Zimnisky) Moissanite and cubic zirconia simulants Coloured gemstones (sapphire, ruby, emerald) |
| **Laboratory-grown gem diamonds** | n/a | n/a basis | Chemical vapour deposition and high-pressure high-temperature presses grow diamond that is physically identical to mined stone at a fraction of the price. The price gap with natural stones has widened, which is drawing price-sensitive buyers of stones under one carat and is one cause of the natural-diamond slump since 2023 (USGS 2026). ICRA via Business Standard (June 2025); USGS MCS 2026, Gemstones | Natural diamonds Moissanite and cubic zirconia |
| **Industrial abrasives for construction and stone: saws, core bits and grinding wheels for concrete, asphalt and stone** | n/a | part of more than 15 billion carats of synthetic industrial diamond made in 2025basis | Diamond grit bonded in saw segments cuts concrete and granite many times faster and longer than conventional abrasives. Synthetic grit is cheap (US import unit value $0.21/carat in 2025) and its size and shape can be controlled, so synthetic diamond supplies more than 99% of industrial use. USGS MCS 2026, Diamond (Industrial) | Cubic boron nitride Fused aluminium oxide Silicon carbide |
| **Drilling for minerals, oil and gas (polycrystalline diamond cutters and diamond-impregnated bits)** | n/a | n/a basis | Polycrystalline diamond compact cutters keep a sharp edge in hard rock, which cuts the number of bit changes on a well or exploration hole. At least four US companies make polycrystalline diamond from diamond powder (USGS 2026). USGS MCS 2026, Diamond (Industrial) | Tungsten carbide roller-cone bits Cubic boron nitride (some machining) |
| **Precision machining, electronics and chip production (wafer slicing, polishing, heat spreaders)** | n/a | n/a basis | Diamond wire and powders slice and polish silicon and sapphire wafers and lenses to nanometre finishes. Diamond also conducts heat better than any metal, so synthetic diamond is used in some high-power electronics as a heat spreader. USGS MCS 2026, Diamond (Industrial) | Silicon carbide and alumina abrasives Copper and aluminium nitride heat spreaders |

 No public source gives world shares by use. By carats, synthetic industrial grit dominates: more than 15 billion carats in 2025 against about 107 million carats of natural diamond (69 Mct gem plus 38 Mct industrial). By value, gem diamonds dominate (USGS MCS 2026).

#### From mine to user

1. **1. Exploration of kimberlite pipes and alluvial gravels** Most ore bodies hold less than 1 to about 6 carats per tonne of ore (USGS 2026). Natural diamond has been found in more than 35 countries.
2. **2. Mining** Open-pit and underground kimberlite mines in Botswana, Russia, Canada and South Africa; marine mining off Namibia; alluvial and artisanal digging in Angola, the DRC and West Africa. World natural output was about 107 Mct in 2025 (USGS).
3. **3. Recovery and sorting** Ore is crushed, the heavy fraction is concentrated, and diamonds are picked out by X-ray sorters. Rough is sorted into thousands of categories by size, colour, clarity and shape and valued.
4. **4. Rough sales and certification** Miners sell through sights to contracted buyers, tenders and auctions. De Beers sold 20.9 Mct of rough in 2025 at an average $142/ct (Engineering News 2026). Shipments travel with Kimberley Process certificates; G7 and EU sanctions bar Russian stones (USGS 2026).
5. **5. Cutting and polishing** India, mainly Surat, processes about 9 in 10 of the world's diamonds. India imported $10.8 billion of rough and exported $13.3 billion of polished in FY2025 (GJEPC via Reuters).
6. **6. Polished trading** Polished stones are graded, certified and traded through bourses in Mumbai, Antwerp, Ramat Gan, Dubai and Hong Kong. Hong Kong and Belgium were the third and fourth largest exporters of HS 7102 by value in 2024 (Comtrade).
7. **7. Jewellery manufacture and retail** Jewellers set stones and sell mainly in the United States (over half of demand), China, India and the Middle East. Weak retail sales since 2023 built midstream stocks and cut rough demand (USGS 2026).

#### Price movement snapshot 2026-10-25

No public daily or monthly benchmark price for this commodity in the datasets used.
 World production 65.7 m ct, 2024 Largest producer Russia 29.53% of world Reserve life 29 yrs reserves ÷ 2025 output

#### Three things to know

- Synthetic diamond supplies over 99% of global industrial diamond; world output exceeded 15 billion carats (USGS).
- US gemstone imports fell 44% in 2025, to about $11 billion from $19.6 billion (USGS).
- India accounted for 21.3% of world diamond exports and 25.1% of imports in 2024, the cutting trade's two-way flow (UN Comtrade).

#### Top recent news snapshot 2026-10-25, last 30 days

- [De Beers bets on consumers’ taste for the real to restore natural diamonds’ sparkle](https://news.google.com/rss/articles/CBMihAFBVV95cUxNbFZvLXhScDI1SmVNSEhxa3h1Zk9fZkV6QWk4QnN5ZEp0SjlKN2ZGUVJURnpUN2N6QUlTLUhKVG9GVlQwX0xGVndTeEt3Q0dkRzRETmhhQWlMbkI5R3EwaFdoQTNmMGRjMDZwcTdiVVdobzFLQWFpRTZ0eHNOU20tNW5iWU8?oc=5)Financial Times · 2026-09-26
- [Botswana nearing deal to raise De Beers stake to about 25%, Bloomberg reports](https://news.google.com/rss/articles/CBMiugFBVV95cUxORWI4VXJhN3M3Ulo0b09LVUNXNDZOTTJOTDVMdEI5TGo0S1hnMHJCS0xET2pOZ0FnNFA3M0I0TlcydGVkdThCckFKclp4R3JTLXRUQmd3Ni1RSHBkV3p2WWgybzFDaW41cGtSM0tiSWRLdGM4X1hHWFdPQzU1bUEzYzBYYVl0SE5fdC0yNkFpd2d2RC1ZanRydWpVMElBaUJQYWlpMWdUeDgzOVVRbW1HdzFnZFo0RV9pamc?oc=5)Reuters · 2026-10-13
- [Botswana Said to Near Agreement on Size of Its De Beers Stake](https://news.google.com/rss/articles/CBMisgFBVV95cUxOcHJoeEt1Y1NsaEhIU3hJcFp4ZTh4RlRKbVV4ZlFLWFFQYWpWbWxPbVNYMjVFcmVPRk9KQUVYQjBsalVtWmt0N2E5cGZ2Y2t6ZXgtMFZZZmQyVTViRmt1Rno0ZDd0RGZDbUd0UzFnUEVWV08wNEpmdXcyLWtRT3EtMGdNMmlGelBaV1UxREM2dzJCOUR5UzEwc2tCV0l3LTFQT1VPaEVBdEtnSFExaHowNENB?oc=5)Bloomberg.com · 2026-10-13
- [De Beers to open 100 Forevermark stores in India by 2030](https://news.google.com/rss/articles/CBMixAFBVV95cUxPZk9VelFTa1owX3JQWmo2RXJfZzVIZ0xlVklDdl83NTlGQ3Q3WkRmdF9vdG1pc25SY1R6Y3laSkZ2SWJEMXd0RDk5NktJdGFyRGR0YllEMnc2dWt1WmExRG5QZTFHTUNWbThGYXA3MDB4X2tmREdaZXhFeW1yZDd1TU05ZlhIcVZocEppbkRRWW55bnJEVzM2SkNtRHZNZEZ2Y2dNNC1iSldjd2xPRWRfcXhFaVlOa0I0YUg2VDlQQnozcEFB0gHLAUFVX3lxTE1uMmNCMGdpck1Ka2NZOUtFMVZETEE0azdjMTF4NjF0S2xlOEE4Wm44TTB3UWw0d2d6VXYtT2QzZngyRmtkUXpUYm1XbjJvRjZlNUhVZktCWjJ4WEVOVjBiQVNOaEhNSzJpMXhxNE5rbmR5QXkxdG1teWozc1A2X3RSbTFSalllU3JVc0g3cGIyTTFpYlV6OWNIZlhZdnhtc29iM3BTSkFqcWt3dVZPYnJBQWhHZ1lFRlFsM1hqejduNDk5UGktMkFyQUxz?oc=5)BusinessLine · 2026-10-16
- [Richemont and Signet In Talks to Join Bidder for De Beers](https://news.google.com/rss/articles/CBMiswFBVV95cUxPV2RlU25ZVlBJVFRlNVVmejJlVTNEWDVwVGhrdU1MaWZMdGdaLXlFcFAycjlmdGtkTFFQb2hBYl96anVwRUJUNnFlTWEtMmtYcnZaR3MyX2FMV3pXOVh2NjVacXlyUm43VEtkbzhwTTBhcUpQV0xTZU1NLXFUZUJKRlc3N1g1dmNfVHJYRGJSWVJib0F5OHNXRGxhYzBTbEJPaVhodnVhTVJlVzY4NklFS0RhWQ?oc=5)Bloomberg.com · 2026-10-15

#### Read the tabs
[Extraction](https://www.materialinsights.org/commodities/diamond/extraction/)[Production](https://www.materialinsights.org/commodities/diamond/production/)[Stocks](https://www.materialinsights.org/commodities/diamond/stocks/)[Cycles](https://www.materialinsights.org/commodities/diamond/cycles/)[Trading](https://www.materialinsights.org/commodities/diamond/trading/)[Movement](https://www.materialinsights.org/commodities/diamond/movement/)[Criticality](https://www.materialinsights.org/commodities/diamond/criticality/)[Characteristics](https://www.materialinsights.org/commodities/diamond/characteristics/)[Emissions](https://www.materialinsights.org/commodities/diamond/emissions/)

## Other sections

- [Summary](https://www.materialinsights.org/commodities/diamond/index.md)
- [Correlation](https://www.materialinsights.org/commodities/diamond/correlation/index.md)
- [Extraction](https://www.materialinsights.org/commodities/diamond/extraction/index.md)
- [Production](https://www.materialinsights.org/commodities/diamond/production/index.md)
- [Stocks](https://www.materialinsights.org/commodities/diamond/stocks/index.md)
- [Cycles](https://www.materialinsights.org/commodities/diamond/cycles/index.md)
- [Trading](https://www.materialinsights.org/commodities/diamond/trading/index.md)
- [Movement](https://www.materialinsights.org/commodities/diamond/movement/index.md)
- [Criticality](https://www.materialinsights.org/commodities/diamond/criticality/index.md)
- [Characteristics](https://www.materialinsights.org/commodities/diamond/characteristics/index.md)
- [Emissions](https://www.materialinsights.org/commodities/diamond/emissions/index.md)
- [Relationships](https://www.materialinsights.org/commodities/diamond/links/index.md)