Tools commonly used in the Diamonds-Industrial (Wholesale) industry for day-to-day tasks and operations.

• Diamond saw blades
• Diamond grinding wheels
• Diamond drill bits
• Diamond wire saws
• Diamond polishing pads
• Diamond core bits
• Diamond cup wheels
• Diamond hand pads
• Diamond chain saws
• Diamond wire loops

Common products and services typical of NAICS Code 423840-15, illustrating the main business activities and contributions to the market.

• Diamond cutting tools
• Diamond grinding tools
• Diamond polishing tools
• Diamond wire saws
• Diamond core drilling equipment
• Diamond abrasive wheels
• Diamond cutting blades
• Diamond sawing equipment
• Diamond polishing pads
• Diamond wire loops

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Kimberley Process Certification Scheme (KPCS): The KPCS is a joint initiative between governments, industry, and civil society to prevent the trade of conflict diamonds. It requires participating countries to certify that rough diamond exports are conflict-free. The certification is issued by the government of the exporting country and must accompany each shipment of rough diamonds.
• Responsible Jewellery Council (RJC) Certification: The RJC is a non-profit organization that promotes responsible ethical, social, and environmental practices in the jewelry supply chain. The certification is awarded to companies that meet the RJC's standards for responsible business practices.
• International Organization for Standardization (ISO) 9001 Certification: The ISO 9001 certification is a quality management system standard that ensures a company's products and services meet customer and regulatory requirements. It is applicable to any organization, regardless of size or industry.
• ISO 14001 Certification: The ISO 14001 certification is an environmental management system standard that helps organizations minimize their environmental impact. It is applicable to any organization, regardless of size or industry.
• Conflict-Free Smelter Program (CFSP): The CFSP is a program that verifies that smelters and refiners of tin, tantalum, tungsten, and gold are not sourcing from conflict-affected or high-risk areas. The program is managed by the Electronic Industry Citizenship Coalition (EICC) and the Global e-Sustainability Initiative (GeSI).

A concise historical narrative of NAICS Code 423840-15 covering global milestones and recent developments within the United States.

• The industrial diamond industry has a long history dating back to the 15th century when diamonds were first used for polishing and cutting tools. In the 18th century, the discovery of diamond deposits in Brazil led to a significant increase in the supply of industrial diamonds. The industry continued to grow in the 19th century with the discovery of diamond deposits in South Africa, which led to the establishment of large-scale diamond mines. In the 20th century, the development of synthetic diamonds and the use of diamond coatings for electronic components and cutting tools further expanded the industry. In recent years, the demand for industrial diamonds has increased due to the growth of the electronics and automotive industries. In the United States, the industrial diamond industry has a more recent history. In the 1930s, General Electric developed a process for producing synthetic diamonds, which led to the establishment of the first synthetic diamond manufacturing plant in the US. During World War II, the US government invested in the development of synthetic diamonds for military applications. In the post-war period, the use of synthetic diamonds expanded to a range of industrial applications, including cutting tools, abrasives, and electronic components. Today, the US is a major producer and consumer of industrial diamonds, with a significant portion of the industry focused on the wholesale distribution of diamonds for industrial use.

The anticipated future trajectory of the NAICS 423840-15 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The industrial diamond market is expected to grow in the coming years due to the increasing demand for industrial diamonds in various industries such as construction, mining, and oil and gas. The growth of the construction industry in the US is expected to drive the demand for industrial diamonds used in cutting and drilling tools. Additionally, the increasing demand for synthetic diamonds in the electronics industry is expected to further boost the growth of the industrial diamond market. However, the market is expected to face challenges due to the high cost of production and the availability of low-cost alternatives. Overall, the industrial diamond market is expected to grow steadily in the coming years.

Recent groundbreaking advancements and milestones in the Diamonds-Industrial (Wholesale) industry, reflecting notable innovations that have reshaped its landscape.

• Diamond Wire Saws: Diamond wire saws are used in the construction industry for cutting concrete and other materials. They are more efficient and produce less waste than traditional saws.
• Synthetic Diamonds: Synthetic diamonds are increasingly being used in the electronics industry due to their superior thermal conductivity and hardness.
• Diamond Coatings: Diamond coatings are used in various industries such as aerospace and automotive for their wear-resistant properties.
• High-Pressure High-Temperature (HPHT) Diamonds: HPHT diamonds are synthetic diamonds that are produced using high pressure and high temperature. They are used in various industries such as oil and gas drilling and mining.
• Diamond Impregnated Bits: Diamond impregnated bits are used in the mining industry for drilling through hard rock formations. They are more efficient and produce less waste than traditional bits.