Industrial diamond

World production of natural and synthetic industrial diamond was about 648 million carats in 2006, with 79 percent of the production coming from Ireland, Japan, Russia, South Africa, and the U.S. U.S. consumption was was an estimated 602 million carats, imports were over 391 million carats, and exports were about 83 million carats. About 87 percent of the industrial diamonds market uses synthetic diamonds, which are expected to become less expensive as technology improves and competition from low-cost producers increases.