Diamond Slurries Market Size, Share, Growth, and Industry Analysis, By Type (Water-Based, Oil-Based Slurries, and Others), By Application (Advanced Ceramics, Semiconductors, Optics & Photonics, and Others), Regional Insights, and Forecast From 2024 To 2032

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Diamond Slurries Market Report Overview

The global diamond slurries market size was USD 0.06 billion in 2023 and is projected to grow from USD 0.07 billion in 2024 to USD 0.16 billion by 2032, exhibiting a CAGR of 11.23% during the forecast period. Asia-Pacific holds leading position in diamond slurries market share in 2023.

A mixture of water and small solid particles is called slurries. The diamond slurries are the particles of diamond mixed in water. These particles are generally not suspended in liquids and balanced in suspension due to agitation during the slurry’s use. In diamond slurries, the particles are tiny-sized, and the liquid, which can be water or oil based as emulsion and oil, is the most common. The viscosity of slurries is higher than suspensions, but still, they can be poured easily from a container. The high viscous slurries are called gels. 

The diamond slurries produce a stabilized slurry in water and oil-based products. It reduces the “settling” out of diamond particles as it produces more homogenous products and decreases the fluctuating concentration risks. A stabilized slurry has slightly increased viscosity as compared to the non-stabilized product. These slurries can be used in lapping high-pressure ceramic seals, metallic components, orthopedic implants, sapphire substrates prior to polishing, and others. It is also used in metals, semiconductors, optics, and photonics, which is estimated to propel market growth. 

COVID-19 Impact: Disruption in Manufacturing and Supply Chain Halted the Growth

The global COVID-19 pandemic has been unprecedented and staggering, with diamond slurries experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The pandemic impacted every market and the chemicals and equipment sector was also not an exception. The spread of COVID-19 resulted in stringent rules and guidelines to avoid the virus spread. These guidelines included shutting down the manufacturing industries, which affected the growth rate of the market. Disruption in manufacturing and supply chain was noticed. The workforce witnessed a downfall due to their health concerns. Even though the pandemic supplemented a majority of the workforce to work from their homes, the limited budget deemed the work rate. The demand for the chemicals witnessed a downfall due to low manufacturing and supply.

LATEST TRENDS

"Rapid Developments in the Electronic Industry to Propel Growth"

The rising per capita income and urbanization are leading to a higher demand for electronics globally. The growth of the electronics industry is coupled with the diamond slurries market growth. The rising demand for products in the electronic industry will further surge the growth of the market. The electronic industry uses the product in polishing and cleaning wristwatches and mobile services. These factors are anticipated to foster the demand for electronics in the global market, which is expected to further propel the product demand. These factors are anticipated to drive maximum growth in the global market.  

Diamond Slurries Market Segmentation

• By Type Analysis

By type, the market is segmented into water-based, oil-based slurries, and others. 

The oil-based segment is estimated to lead the segment due to the expanding emulsion segment in the global market. 

• By Application Analysis

Based on application, the market is classified into advanced ceramics, semiconductors, optics & photonics, and others. 

DRIVING FACTORS

"Ecologically Friendly Attributes to Increase the Market Growth"

Most diamond slurries are meticulously crafted to be environmentally benign, adhere to the highest requirements of workplace safety, and have good cleaning capabilities. Less rework, improved process control, a decrease in unproductive working hours, and cheaper unit costs are some of the driving factors of the market. Additionally, it is environmentally friendly and is mixed with glycol lubricant to offer better durability. It can efficiently distribute the diamond particles evenly and separate them through a stable liquid carrier. These factors are projected to foster diamond slurries market growth in the foreseeable future. 

"Natural Finish and Durability to Augment Market Growth "

Mechanical seals, aviation parts, medical equipment, electronics, and valves are just a few of the many non-metal and metal components that can be processed successfully using diamond slurries. Furthermore, the slurry offers durability and a natural finish to the surfaces, which makes it a choicest finish option. Using the diamond slurries gives an enhanced and glossy look to the product. Thus the metal, semiconductors, optics, and other such industries are rapidly adopting the product. These factors are anticipated to aid market growth. 

RESTRAINING FACTORS

"Tedious Cleaning To Impede the Market Growth"

Lubrication is required to provide a smooth connection between the conditioning rings and  lap plates well as to assist the diamond product spread out evenly over the lap plate. In order to provide the optimum cutting action, maintain even diamond dispersion across the lapping surface, and generate uniform finishes, lubricants used with any diamond compound or slurry/slurries should be compatible with the carrier. The time of Lapping and the quantity of compound or slurry/slurries required to do the work will both be reduced by using the right lubricant in conjunction with a compatible compound or slurry/slurries. However, the process can get tedious and messy and can require additional cleaning work. Furthermore, if oxalic acid is present or in powder, it may cause blistering to the marble and limestone owing to the labor skill. These factors may impede the diamond slurries market

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Diamond Slurries Market Regional Insights

"North America to Lead the Market Due To Rising Demand for the Product from Various Industries "

North America is anticipated to hold a dominant part of the diamond slurries market share owing to the higher demand for jewelry and diamond products. 

Europe is forecasted to hold a significant part of the diamond slurries market share attributable to the rising demand for fine rings, bracelets, and jewelry. 

Asia Pacific is projected to show sizable growth owing to the rising industrialization resulting in higher demand for metal lapping and polishing pads.

KEY INDUSTRY PLAYERS

"Key Players to Adopt Long-Term Growth Strategies to Gain a Competitive Advantage"

New sustainable products and solutions that give clients greater efficiency and higher value are being developed by the companies. Additionally, the businesses are attempting to boost sales through investments, acquisitions, and innovation. To better serve their different markets, they are increasing their production capacity. Due to the presence of multiple large corporations, the market is competitive. It is also defined by the existence of a sizable global consumer base, with the companies executing their businesses through specialized distribution networks. 

LIST OF TOP DIAMOND SLURRIES COMPANIES

• Iljin Diamond
• Eminess Technologies
• Qual Diamond
• Henan Union Precision Material
• ITW (Buehler)
• Asahi Diamond Industrial
• Saint-Gobain
• MicroDiamant
• Beijing Grish Hitech
• N.G.S Photoelectric
• Henan Boreas New Material
• Lapmaster
• LAM PLAN SA
• Mipox Corporation
• Kemet International Limited
• Fujimi Corporation
• Engis Corporation
• Dopa Diamond Tools
• NanoDiamond Products
• ST?HLI Group

REPORT COVERAGE

The report offers a comprehensive analysis of the market based on various aspects such as:

• Emerging trends which are anticipated to foster market growth.
• Factors expected to drive maximum growth.
• Various growth opportunities coupled with the emerging trends.
• Factors that may limit the market growth.
• Key players and their headquarters.
• An in-depth analysis of the market segments is provided in the report.

The report comprises all possibly includable aspects to offer an in-depth analysis of the market. The study provides precise data on market insights. It provides an examination of a competitive advantage that is thought to be important for the development of business strategy. The paper outlines several avenues for the sector's expansion and development.