Diamond bit is a drilling accessory with diamond as cutting tool. Diamond drilling refers to a drilling method that uses diamond as abrasive to break rock at the bottom of the hole in a rotary way and take rock (ore) core with core pipe. Because of its high hardness, good wear resistance and compression resistance, diamond can drill many kinds of hard rocks, and drill holes at different angles and depths. It has the advantages of high drilling efficiency, good quality, less steel consumption 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 drilling and engineering drilling according to their uses.
In 2017, the market size of China's diamond bit industry was about 4.457 billion yuan, up 12.95% from 3.946 billion yuan in 2016.
The output of China's diamond bit industry in 2017 was about 9.635 million, an increase of 9.18% compared with 8.825 million in 2016.
In 2011, the demand of China's diamond bit industry was about 4659,000, and by 2017, the demand of China's diamond bit industry reached 8.68 million.
Research Report on Market Supply and Demand Forecast and Development Trend of China Diamond Bit Industry in 2018-2024 issued by Zhiyan Consultancy shows that advanced diamond bit technology has been applied in geological exploration, energy exploitation, waste material shaping, road traffic, material processing and other fields abroad. Compared with traditional technology, it has wide adaptability, large mining depth, high efficiency, low comprehensive cost and safety. A series of advantages such as environmental protection. With the development of China's economic construction, infrastructure construction has been continuously strengthened, especially the implementation of energy mining, South-to-North Water Transfer, high-speed railway construction, material processing and other projects in China, which put forward a huge market demand for diamond bit tools.
In recent years, with the continuous progress of technology, large-scale enterprises in the industry generally improve product quality, reduce the consumption of raw materials and manpower, improve labor productivity through technological transformation and introduction of foreign advanced production technology and production equipment, thus forming a scale advantage, thereby enhancing the market pricing ability of enterprises'products. At present, there are hundreds of domestic diamond bit manufacturers, mainly distributed in central China.