A metal-based matrix is usually used for the fabrication of diamond bits in order to achieve favorable properties and easy processing. In the effort to reduce the cost and to attain the desired bit properties, researchers have brought more attention to diamond composites. In this paper, Fe-based impregnated diamond composites for drill bits were fabricated by using a pressureless infiltration sintering method at 970 °C for 5 min. In addition, boron was introduced into Fe-based diamond composites. The influence of boron on the density, hardness, bending strength, grinding ratio, and microstructure was investigated. An Fe-based diamond composite with 1 wt % B has an optimal overall performance, the grinding ratio especially improving by 80%. After comparing with tungsten carbide (WC)-based diamond composites with and without 1 wt % B, results showed that the Fe-based diamond composite with 1 wt % B exhibits higher bending strength and wear resistance, being satisfactory to bit needs.
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