From potential buyers to potential sellers, the market for Lab Grown diamonds is the source of the most heated debate.
Synthetic diamonds were supposed to generate 6-7 million carats in 2020, compared to diamond mining. It peaked at 152 million carats in 2017 and is at around 111 million carats.
IGI’s most recent poll found that 71% of U.S. jewelry buyers are familiar with Lab Grown diamonds. In 2016, 70% of respondents were open to the idea of purchasing a lab gem; this year, that number has increased by 15%.
Lab created diamond marketing targets young people concerned about the environment and cost. De Beers, Vrai, and Kima also offer synthetic diamonds.
Bad things happened when people managed the mined diamond industry, which uses unfair labor and isn’t transparent.
Lab Grown diamonds’ environmental, social, and economic impacts must be examined. Some say firms and consumers are too quick to embrace Lab Grown diamonds as sustainable. Let’s dive into this comprehensive resource and learn the amazing truths of Lab created diamonds.
What Are Lab Grown Diamonds?
The process of creating these diamonds is called chemical vapor deposition (CVD). High temperatures and pressures are applied to carbon atoms on a suitable substrate. This procedure produces a superior-grade diamond in terms of clarity and color.
Lab diamonds like CVD diamonds and HPHT diamonds are made by heating and pressing a sheet of carbon. Man-made diamonds are better and cheaper because they lack intricacy and faults.
These diamonds are collected and purified in an oxygen-free environment (HPHT).
The end product is a crystal with an ideal structure and a flawless exterior. It has also been found that these diamonds have less pollution than natural diamonds.
Synthetic diamonds offer buyers greener diamond choices. That’s why the diamond industry is now promoting artificial diamonds so that more consumers can buy Lab Grown diamonds. Also, several premium brands are now displaying synthetic diamonds.
Are Synthetic Diamonds Less Harmful to the Environment?
The mining process for diamonds is fraught with potential ecological disasters. Lab Grown diamonds need power and fossil fuels compared to mined diamonds.
The Lab Grown diamond business extracts energy and carbon from sustainable sources. Aether’s diamonds are the first artificial diamonds since carbon dioxide is removed from the air.
CEO Ryan Shearman tells Refinery29, “We’re reducing our customers’ carbon footprints.” Shearman said the company uses solar and wind power to make diamonds. Aether’s carbon-negative goods don’t employ Lab Grown diamond seeds.
According to a 2011 UVA research, Lab Grown diamonds require 20 kilowatt-hours per carat. A high-pressure, high-temperature single-stone press requires 175 to 225 kWh per raw carat, say, diamond makers.
The Man-Made Diamond Market Is Going Through A Period Of Expansion
Synthetic diamonds, which people make, are the newest thing in the diamond business. This is a time of expansion for the market for Lab created diamonds. This kind of diamond is becoming more in demand every day. Synthetic diamonds are flaw-free, so buyers prefer them.
Untrained eyes can’t tell Lab Grown from mined diamonds. But they offer more. These conflict-free diamonds are guilt-free purchases. Laboratory-grown stones are sterile and pose no threat to local or global ecosystems.
Further, there are several advantages to utilizing Lab created stone instead of genuine diamonds. Cost is one factor; synthetic diamonds are far more affordable than natural ones. More so, since they are produced in labs, they are subject to stringent laws and restrictions.
Pollution and other environmental dangers won’t affect them. They also outlast natural diamonds by a significant margin. A guy or woman should consider buying an artificial diamond instead of a real one.
What Does the Millennial Generation Think About Lab Grown Diamonds?
Millennials want to know what they are receiving when they purchase diamonds. Lab Grown diamonds reveal the diamond’s creation process, providing the transparency they want. They want to know where and how their diamonds were mined.
They care about the world at large and want to buy diamonds that are mined humanely. Young adults are more likely to purchase diamonds if they have a good reputation and are mined responsibly.
They are picky about how they look and feel, so they will only wear things that capture who they are. They value their clothing and only wear their favorites. They are always searching for novel fashions to try out.
For the most part, millennials are the consumers that choose Lab Grown diamonds. When mined, they create no pollution or environmental impact. They enhance diamond jewelry, giving the wearer more tremendous respect and appreciation.
You may also be able to get them for a fair price, so you won’t feel bad about buying them.
Celebrities Support Lab created Diamonds
This source has convinced most young people to buy Lab Grown diamonds. Many celebrities are purchasing lab-made diamonds and urging others to do likewise. Younger generations may change the jewelry business by rejecting natural diamond preconceptions.
Hilary Duff, Jennifer Garner, Beyonce, Blake Lively, Gisele Bundchen, and Mariah Carey support diamonds.
It takes over a billion years for a natural diamond to form deep below the surface of the Earth. Due to their slow productivity, mining activities may deplete natural diamond deposits.
Potentially, mankind might exhaust the supply of diamonds obtained via mining. High demand for diamonds and other jewels might make satisfying demand challenging. Historical pre-owned diamond jewelry would cost extravagant prices.
What Makes Synthetic Diamonds the Wave of the Future?
Now more than ever, people are looking for ways to live greener lives and purchase environmentally responsible goods. As a result, the market for Lab Grown diamonds is expected to expand. Reasons for the increasing demand for synthetic diamonds include:
- Growing a natural stone may take years, and the energy required to cut and polish it can be enormous. On the other hand, diamonds generated in a lab may be created in only a few days, thanks to modern techniques. Therefore, they are much better than mined diamonds.
- Lab Grown diamonds don’t pollute since they are not mined. True, they aid in the protection of the natural world.
- When broken down, a Lab Grown diamond will not release harmful substances like cyanide as a real diamond would. Because of this, they are not as dangerous to people.
- Scarcity makes Lab Grown diamonds cheaper than natural ones. In addition, they bring excellent value for the money.
- Man-made diamonds may be tailored to the preferences of the buyer. Therefore, they provide more versatility than their natural diamond counterparts.
- A Lab Grown diamond is in great demand because of its rarity and distinctive qualities. People take pride in possessing unique items.
Lab Grown stones are the jewelry industry’s future, thanks to technological advances. The process employed to grow diamonds should be accepted in today’s technological age. Lab Grown diamonds are a remarkable development for society overall.
The pearl business has already begun to embrace man-made stones. Cultured pearls, like laboratory-created diamonds, are developed from a seed implanted in an oyster. The market is 100% cultured pearls. Cultivated diamonds are the future of diamonds, much like cultured pearls.