Evolution is the nature of the world. Technology evolves, and so do our priorities. We never thought we would run electric bikes or take our queries to a virtual assistant. Things change, and the world accepts it sooner or later. The same is with diamonds, and we never thought they could be grown above the ground, right? Laboratory-grown diamonds are stealing the hearts of Millennials and gen-z because of their low price, sustainability, and transparency but are yet to make a prominent presence in the world of diamonds.
The History of Diamonds
The first-ever diamond was worn as jewelry around the 11th century to add glitter to the crowns of kings and queens. For hundreds of years, kings and queens were the only ones who had the luxury of carrying diamonds in their headdresses. It was remarked as the most precious thing in the world.
According to studies, a diamond engagement ring was presented for the first time in 1477. Since then, there has been no turning back. Diamonds started making an appearance in all sorts of jewelry.
After hundreds of years, that is, in the 1800 and early 1900, there was a boom when various suppliers emerged around the globe, and diamonds were made available to everyone. In 1931, the Gemological Institute of America was set up, which invented the 4 C's of diamonds (color, cut, clarity, and carat).
In 2022, we are witnessing a revolution in this industry as lab-grown diamonds are taking over the market.
The History of Lab-Grown Diamonds
Lab-grown diamonds are something that was recently created. It has been that the first batch of lab-grown diamonds was made in 1954, and in 1980 is when they became commercially accessible.
The first lab-created diamonds were so small that they were almost invisible and had inferior quality. But since then, technology has constantly been evolving. The size and the quality of the diamonds now grown are mind-blowing.
The lab-grown diamonds are available in all sorts of quality ranges with color, clarity, cuts that are very similar to natural diamonds. Lab-grown diamonds are still in the growing stage. For many years, people and industries were hesitant about lab-grown diamonds because they could not accept that"lab-grown diamonds are real diamonds."Some primary reasons why we can see a change of attitude towards lab-grown diamonds
Increased awareness among people. More than 50% of the consumers are now known to the lab-grown diamonds industry, making them from the process.
Big jewelry brands are supporting it. Some started launching a whole new collection with lab-grown diamonds.
Celebrities promoting lab-grown diamonds. Leonardo DiCaprio and Penelope Cruz were the first of the many that followed.
Natural Diamond Reserves are running out. Some reports suggest that the reserve may run dry by 2030.
The Future of Lab-Grown Diamonds
The lab-grown diamond industry is on its inevitable journey to becoming the future face of the diamond industry. According to the Antwerp World Diamond Center, demand for synthetic diamonds is expected to grow by 20% annually.
Due to increased acceptance among jewelry makers, dealers, retailers, and consumers, the availability of lab-grown diamonds in markets is assumed to make a significant impact on its sale.
Institutes are taking bets on its bright future, and let's understand why.
Price plays a significant role, and estimates show that lab-grown diamonds with identical grades to natural diamonds can be up to 40% cheaper.
People care about the value of money. Even though jewelry is more of an emotion than a possession, they still want more for less and lab-grown diamonds give them just that.
The Source of lab-created diamonds is known. People know where they are made and by whom.
When a lab-created diamond is grown by the CVD method (Chemical Vapor Deposition), using 100% renewable energy, greenhouse gas emissions are less than 10% of a low-carbon diamond mine emissions.
Technology to create diamonds is constantly improving, ensuring that the quality will continually be enhanced for betterment.
Lab-created diamonds are IGA , GCAL and IGI certified. This builds trust among people and assures them of their buying quality.
The world's most prominent diamond players are entering this market, stating that if they do not have to compromise with beauty, excellence, and authenticity, they see it as the future in the long run.
Lab-grown diamonds are still precious, unique, and natural. We may see more efficiency in its manufacturing over time and even better quality. Lab-grown diamonds are the way into ecological luxury, they align with the next generation's values, and they are here to stay.