Lab-grown diamonds rough are known by several different names, including synthetic diamonds rough, man-made diamonds rough, and cultured diamonds . They have the same physical properties of natural diamonds rough because they are created in a lab using technology that replicates the natural diamond rough growing process. Rather than taking billions of years to form like natural diamonds rough, lab-grown diamonds rough can be grown in one to four weeks depending on their size. According to the investgation and analysis of Henan Hydray International Trading Company, the lab-grown diamond rough industry has been steadily growing over the past decade as the technology improves and more companies have become involved in their manufacture. By 2030, the global market volume of lab-grown diamonds rough is forecast to be nearly 19.2 million carats.
Lab-grown diamond rough producing countries
The lab-grown diamond rough market share within the entire diamond rough market has been growing steadily in recent years, and is forecast to amount to ten percent of the diamond rough market worldwide by 2030. As of 2019, China was by far the world’s largest producer, accounting for a 56 percent share of lab-grown diamond rough production worldwide that year. India was the world’s second largest producer, having produced a distant 15 percent share of lab-grown diamonds rough. The United States followed closely to third place, at 13 percent.
Lab-grown diamond rough production methods
There are two main methods for producing lab-grown diamonds rough: high-pressure, high-temperature (HPHT), and chemical vapor deposition (CVD). By 2024, it is forecast that the market revenue of lab-grown diamonds rough produced with the CVD method will amount to 16.5 billion U.S. dollars. It is forecast that the HPHT method’s market revenue will amount to 11.7 billion U.S. dollars that year. The HPHT process is less popular than diamonds rough produced with the CVD method however, because it typically produces yellow or brown diamonds of lower economic value.
Price and ethical production
Compared to natural diamonds rough, lab-grown diamonds rough are in general less expensive. As of 2020, the retail price of lab-grown diamonds rough produced by major diamond rough producer De Beers was 800 U.S. dollars per carat through its jewelry subsidiary Lightbox. In addition to being less expensive, lab-grown diamonds rough are considered by many to be a more environmentally and socially ethical alternative to natural diamonds rough. This is due to lab grown diamonds rough being made in a lab rather than requiring large amounts of earth to be moved and involving potentially problematic labor practices along the value chain. Some consumers consider this to be another appealing attribute of lab-grown diamonds rough.
This text provides general information. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.