China's Synthetic Diamond Market is Promising

In recent years, China's oil and natural gas exploitation has become increasingly popular. The development of the west regions and west-east natural gas transmission have posed a strong market demand for diamond tools. According to recent statistics in geological drilling, water and electricity, the market demand for diamond drill bits is around 150,000 to 200,000 pieces, consuming about 3,500,000 carats to 4,500,000 carats of diamond. China cannot meet the demand for PCD drill bits for oil drilling, and the quality is cannot reach the standard. Currently, China depends mainly on import. As a result, oil and natural gas exploitation is a promising diamond market.

According to a survey of China synthetic diamond drill bits market, China's automobile output reached 2,000,000 sets in 2000, and the figure increased to 3,500,000 sets in 2005. So far, however, domestic diamond tools could hardly meet the demand for large number of automatic production line sets, which were brought in from the automobile industry. Therefore, China diamond cutting tools market is of great potential. In addition, China's telecommunications and ceramics industry are developing at a fast pace and have a favorable prospect, so diamond wire drawing dies and diamond for ceramics will increase substantially, and the potential market is huge. China is also expanding synthetic diamond international market.