Diamond Tools Market By Solution (Fuel Management, Asset Tracking, Fleet Safety, Fleet Performance Reporting, Diagnostics, Navigation, Equipment/Fleet Maintenance, Others); By Technology (Satellite, Cellular); By Form Factor (Integrated, Embedded, Tethered); By Hardware (Infotainment Display Unit, Telematics Control Unit); By Vehicle Category (Existing Fleet, New Fleet); By End-use (Agriculture, Construction, Mining, Others); By Geography, Segment revenue estimation, Forecast, 2024-2032.

The diamond tools market was worth USD 15.2 billion in 2023 and will be worth USD 21.94 billion by 2030, growing at a CAGR of 4.7% during the forecast period.

 

The diamond tools market is on the rise due to the necessity of its application in industries such as construction industry, electronics, and the automotive industries in terms of cutting, grinding and drilling. The market is estimated to rise at a CAGR of about 6% from 2023 to 2030 owing to rising infrastructure projects more specifically in the developing countries like India and China. For instance, diamond saw blade is very popular for cutting concrete and stone because of its efficiency and long lasting in large construction projects. New trends that have emerged in the market include the application of PCD tools which are durable and possess higher cutting velocities, especially in the area of aerospace and automotive industries. Also, advancement in sustainable construction is creating the market for diamond tools due to its durability that cuts the frequency of usage of new abrasives hence reducing the waste material and cost.

 

There are enormous opportunities for the diamond tools market as different sectors including electronics, aerospace and construction require high precision tools. Currently, the market is expected to grow at this pace, with around 6 per cent growth in every year, and the key opportunities exist in emerging markets such as Asia-Pacific due to infrastructure and industrial development. For instance, the increase in the use of diamond coated tools in semiconductor manufacturing area, where accuracy is the key, provides a good prospect. Some of the recent development include new stronger and more cost effective synthetic diamond that has triggered demand for diamond tools in more fields. Furthermore, the trend towards sustainability is another advantage of diamond tools due to their longevity and therefore decreased consumption of material and reuse of waste, including environmentally friendly actions.

 

 

Market Segmentation

By Tool Type

• Diamond Grinding Wheels

• Diamond Cutting Tools

• Diamond Saw Blades

• Diamond Drilling Bits

• Diamond Polishing Pads

 

By Material Type

• Synthetic Diamond Tools

• Natural Diamond Tools

• Polycrystalline Diamond (PCD) Tools

 

By End User

• Industrial Manufacturing

• Construction Industry

• Aerospace Industry

• Electronics Industry

• Automotive Industry

• Mining Industry

 

By Functionality

• Drilling

• Polishing

• Cutting

• Grinding

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

Segment Analysis for the Diamond Tools Market

By Tool Type:

Leading Segment: Diamond Saw Blades

Diamond saw blades hold the largest market share, accounting for approximately 35% of the market, driven by their extensive use in construction & stone processing industries. These tools are critical for precision cutting in concrete, granite & marble. Major players like Hilti & Bosch provide advanced diamond saw blades tailored for heavy-duty cutting applications. This segment is projected to expand at a steady CAGR of 7% due to consistent demand from the construction industry.

Fastest-Growing Segment: Diamond Drilling Bits

Diamond drilling bits are growing at a CAGR of 9%, propelled by increased demand in mining and oil & gas exploration. These bits are known for their durability & efficiency in drilling through hard substrates like rock & concrete. Companies like Sandvik & Baker Hughes have been innovating in this space to cater to deeper & more complex drilling requirements, particularly in emerging markets like APAC.

 

By Material Type:

Leading Segment: Synthetic Diamond Tools

Synthetic diamond tools dominate the market with over 60% of the share, as they are cost-effective & highly durable compared to natural diamonds. These tools are widely used across construction and manufacturing industries for their uniform properties. Element Six, a subsidiary of De Beers, produces high-performance synthetic diamond tools that are critical for industrial applications.

Fastest-Growing Segment: Polycrystalline Diamond (PCD) Tools

PCD tools are experiencing rapid growth at a CAGR of 10%, driven by their superior wear resistance & efficiency in high-precision applications such as aerospace & automotive. These tools are essential for machining non-ferrous metals & composite materials. Companies like Sumitomo Electric & Kennametal are leaders in this segment, providing advanced PCD solutions for specialized industries.

 

By End User:

Leading Segment: Construction Industry

The construction industry accounts for approximately 40% of the market share due to the high demand for cutting, grinding & drilling tools in infrastructure development. Urbanization and mega-projects in regions like the Middle East (e.g., NEOM City in Saudi Arabia) drive the demand for diamond tools in this sector. The segment is expected to grow at a steady CAGR of 6.5%.

Fastest-Growing Segment: Aerospace Industry

The aerospace industry is growing at the fastest pace, with a CAGR of 11%, as it increasingly adopts diamond tools for precision machining of lightweight composites & hard to machine alloys. Boeing & Airbus suppliers utilize diamond-coated cutting tools for engine components, ensuring enhanced durability & efficiency.

 

By Functionality:

Leading Segment: Cutting

The cutting functionality segment holds the largest market share of over 40%, driven by its applications in construction, mining & manufacturing. Diamond tools for cutting, such as saw blades & cutting discs, are crucial for slicing through tough materials like concrete & metals. Companies like Makita and Norton offer advanced cutting tools designed for industrial use.

Fastest-Growing Segment: Polishing

Polishing tools are growing rapidly at a CAGR of 8%, fueled by increasing demand in the electronics & automotive sectors. These tools are essential for achieving smooth finishes on surfaces like glass, ceramics & metal components. Diamond polishing pads are widely used in semiconductor manufacturing to achieve precision finishes.

 

By Region:

Leading Region: Asia Pacific

Asia Pacific dominates the market with over 45% of the share, driven by the rapid growth of the construction, manufacturing & electronics industries in countries like China, India & Japan. For instance, China’s Belt & Road Initiative has spurred demand for diamond tools in large-scale infrastructure projects. The region is projected to expand at a CAGR of 8%, maintaining its leadership position.

Fastest-Growing Region: Middle East & Africa

The Middle East & Africa region is growing at the fastest rate, with a CAGR of 9.5%, due to increasing investments in construction & mining projects. Initiatives such as Dubai Expo 2025 & South Africa’s mining expansion have created significant opportunities for diamond tool manufacturers. Companies like Husqvarna are focusing on this region to tap into its growing demand for diamond-based cutting & drilling tools.

 

Key Players

• Diamant Boart

• Asahi Diamond Industrial Co., Ltd.

• Ehwa Diamond

• Husqvarna Group

• Tyrolit Group

• Saint-Gobain

• Hilti Group

• Norton Abrasives

• Shinhan Diamond

• Bosch Power Tools

 

Diamond Tools Market Report Coverage

Report Attribute	Details
Forecast Period	2023 – 2030
Market Size Value in 2023	USD 15.2 billion
Revenue Forecast in 2030	USD 21.94 billion
Overall Growth Rate	CAGR of 4.7%
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR (2023 - 2030)
Segmentation	By Tool Type, By Material Type, By End User, By Functionality, By Region
By Tool Type	Grinding Wheels, Cutting Tools, Saw Blades, Drilling Bits, Polishing Pads
By Material Type	Synthetic Diamond, Natural Diamond, Polycrystalline Diamond
By End User	Construction, Electronics, Automotive, Aerospace, Mining
By Functionality	Drilling, Polishing, Cutting, Grinding
By Region	North America, Europe, Asia-Pacific, LAMEA
Country Scope	US, Canada, Mexico, UK, Germany, France, China, Japan, India, South Korea, Australia, etc.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.