Diamond Bit Industry Has Formed A Certain Scale in China

Diamond bit is a drilling accessory with diamond as cutting tool. The diamond bit industry in China has formed a certain scale and has huge potential in the future.

 

Diamond bits are drilling accessories with diamonds as cutting tools. Diamond drilling refers to a drilling method that uses diamond as abrasive to break the rock at the bottom of the hole in a rotary manner and take the core from the core pipe. Due to its high hardness, good wear resistance and pressure resistance, diamond can drill many kinds of hard rocks as well as holes at different angles and depths. It has the advantages of high drilling efficiency, good quality, low consumption of steel and light equipment.
Diamond bits are mainly used in coal mine, iron ore, gold mine, oil drilling, geological exploration, tunnel construction and other fields. Diamond bits are mainly divided into geological drills and engineering drills according to their use.
In 2017, the market size of diamond bit industry in China was about 4.457 billion yuan, an increase of 12.95% compared with 3.946 billion yuan in 2016.

In 2017, the output of diamond bit industry in China was about 96.335 million, which increased by 9.18% compared with 8.825 million in 2016.
The demand of diamond bit industry in China is about 4659,000 in 2011 and 8.68 million in 2017.
"Research Report on Market Supply and Demand Forecast and Development Trend of China Diamond Bit Industry 2018-2024 issued by Intelligent Research Consulting shows that advanced diamond bit technology has been applied in geological exploration, energy exploration, waste material shaping, road traffic, material processing and other fields abroad. Compared with traditional technology, it has a series of advantages such as wide adaptability, large mining depth, high efficiency, low comprehensive cost, safety and environmental protection." With the development of economic construction in China, infrastructure construction is constantly strengthened, especially the implementation of energy exploration, South-to-North Water Transfer, high-speed railway construction, material processing and other projects in China, which brings about a huge market demand for diamond bit tools.
In recent years, with the continuous progress of process technology, large-scale enterprises in the industry generally improve product quality, reduce the consumption of raw materials and manpower, and improve labor productivity by technological transformation and introducing foreign advanced production processes and production equipment, thus forming a scale advantage, which further improves the market pricing ability of enterprise products. At present, there are hundreds of diamond bit manufacturers in China, mainly distributed in Central China.