Development Prospect of Diamond Tool Industry in China

With increasingly mature development of synthetic diamond technology as well as China's rapid economic take-off, China has made more accumulation and progress in diamond tool manufacturing technology, and has had the strong ability of manufacturing. Due to the huge advantage on labor cost of Chinese enterprises, and the pursuing trend of technology research and development, we have made our country enterprises with obvious advantages in the product price.

The rapid growth of market demand makes diamond tools companies spring up like mushrooms. So far, we have thousands of diamond tools enterprises in China, and has already formed diamond tools production bases represented by Danyang in Jiangsu, Shijiazhuang in Hebei and other places, and some enterprises with internationally competitive advantages. Our country has become an important producer of diamond tools in the world and exporter, whose annual output value has more than ten billion RMB.

Our development space in diamond tools industry is larger. Although it was affected by the financial crisis in 2008, but in the long term, its broader application fields have helped the demand of diamond tools greatly increased year by year, and the demand of some high-end products is on the rise. The time of economic slowdown in China is shorter, and we are driven by increasing investment in fixed assets, so the major downstream market of diamond tools (stone, construction) is affected relatively less by the economic downturn, and the transfer trend of our diamond tools industry has not changed. The industry will keep steady growth whose future growth will be between 15% and 20%.