Lab-grown diamonds are gaining popularity among newlyweds who are seeking a more ecologically responsible alternative to traditionally mined gems.
According to some jewelers, there has been an astounding surge of over 2,000 percent in interest over the course of five years, with individuals discovering the attractiveness of this more cost-effective choice.
In terms of physical and chemical attributes, lab-grown diamonds are indistinguishable from their naturally sourced counterparts, while being priced at a remarkable 85 percent lower.
A recent survey conducted among 1,500 engaged couples and spouses unveiled that 70 percent of them would be open to selecting a lab-grown option. Their rationale primarily revolves around value for money (55%) and sustainability (43%) as the pivotal factors driving this shift.
However, a notable 69 percent confessed that they would struggle to differentiate between the two gem varieties. This prompted the diamond retailer Queensmith to conduct an experiment with passers-by, who were both taken aback by the price differential and found it challenging to distinguish between the two types of gems.
Based in London’s historical Hatton Garden district, Queensmith revealed an astounding surge of 2,860 percent in the market for lab-grown diamonds within a mere five years. In 2019, lab-grown sales constituted just a solitary percent of total diamond sales; however, the ongoing year has witnessed a meteoric rise to 81 percent of the overall sales, and the jeweler is en route to achieving sales of 1,900 lab-grown diamonds in 2023.
A representative from the brand, which initiated the survey, disclosed that a significant 46 percent of individuals were not even cognizant of the existence of lab-grown diamonds.
“It’s no surprise to see people willing to move away from mined diamonds. Lab-grown diamonds provide a great alternative that is less impactful on the environment, which is a big concern for most people.”
Fifty-three percent of individuals intending to get married would opt for a more affordable engagement ring if it allowed them to allocate more funds towards their wedding day. The primary focuses include the venue (53 percent) and the wedding attire (34 percent), followed by the rings (31 percent) in third place.
For a portion of these individuals, this prospective scenario has already materialized. More than twenty-five percent of those surveyed by OnePoll revealed that they either possessed jewelry featuring a lab-grown diamond or were acquainted with someone who did.
The Creation Process
While not as uncommon as their natural diamond counterparts, these gems are perceived as equally stunning by individuals. They are available in various hues such as yellow, pink, green, orange, blue, and transparent. These man-made diamonds are produced using methods that replicate the natural creation process and are primarily generated through two techniques: chemical vapor deposition (CVD) or high pressure high temperature (HPHT).
In the HPHT process, pure carbon is compressed within a metal cube and subjected to intense heat and pressure via electric pulses. This leads to the breakdown of carbon, resulting in its crystallization into diamond form. Any minute traces of metals within an HPHT diamond are usually inconspicuous to the naked eye, and many experts consider HPHT diamonds to possess higher quality compared to CVD diamonds. These diamonds are reported to share the same atomic structure as mined diamonds, thereby maintaining optical, chemical, and physical identicalness.
“As people become more knowledgeable about lab diamonds, I’m sure we’ll see increased demand and clients looking to learn more for themselves.”
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