The synthetic diamond industry is developing extremely fast. Day by day it expands its influence on the jewelry market and occupies a special place in the hearts of jewelers and buyers. Why is it possible and what does attract people to the manufactured substitute of natural diamonds? Is it a low price? It is unlikely to be the case. Although natural diamonds were a very expensive product it was popular for a reason. So, synthetic diamonds are becoming more and more popular for a reason as well.
And this reason is not a price. Not only the price. But what else?
Figures
Market research demonstrates that this year has brought a 63% increase in selling engagement rings featuring synthetic diamonds compared to previous years. Many market analysts claim that man-made diamonds are more popular among youngsters or Millennial. It seems that this figure somehow confirms this idea highlighting the demand in the segment traditionally perceived as youth-oriented.
Moreover, India – the country, which cuts and polishes 90% of world-sold diamonds – announced its intention and capability to increase volumes. Taking reference to US demand, India declares readiness to double the export of polished lab-grown diamonds this financial year.
Why demand is growing?
Madestones, for example, positions its product as an innovative alliance of science and technology, which supports sustainability. There is nothing to add to this positioning and it is indeed exploited by all the traders and manufacturers worldwide.
It says us that synthetic diamond is not merely a product but it is a culture of sustainable living, a life philosophy of consciousness, and a kind of identity. We mean here not only fashion identity but personal telling about whom I am and what my values are.
Why identical products do have different values?
Natural diamonds are a kind of unchangeable matter. People cannot control growth or any other aspect, so miners need an eternal story to sell them. This story has to have an everlasting effect and be actual across times and spaces, touch the soul, and nurture the desire to have a dream item.
That is why natural diamonds are mostly about intangibility, divinity, romance, and luxury.
Contrary to naturally-occurred gems, synthetic diamonds are extremely adaptable. They are constantly changing, For the 50 years of evolution, they had multiple transformations in the production process. The core algorithm is stable but approaches are varied.
Let’s talk, for example, about raw materials.
Natural diamonds and artificial diamonds are made of carbon seeds. In terms of this, the raw material is the same. Yet, we cannot know what kind of process resulted in carbon emission beneath the Earth. Consequently, we cannot control it or change something.
Producers of man-made diamonds can choose the most relevant raw material to improve diamond quality or ensure the safety of production processes.
Thus, at the very beginning carbon was taken from the mined materials. Then, the process of growing diamonds in the laboratory was not much safer than mining. Yet, step by step, scientists replace mined carbon with carbon extracted from the air which contains excessive portions of CO2. In such a way, the synthetic diamond industry became a purifying industry when making so-called air diamonds.
Later manufacturers started to get carbon from the cremation ashes and developed a unique product known as the memorial diamond.
At the same time, gemologists explored ways to decrease the level of water and energy consumption by labs. They enabled us to find the method for making diamonds at room temperature.
From day to day more and more companies become CO2-neutral.
All the time from the moment of emergence, the synthetic diamond industry adapts to challenges. We were focused on sustainability but the pace of the event is the same in terms of response to the fashion demands of the consumers.
Most likely, here is the secret formula to the popularity of synthetic diamonds: high quality, a deep philosophy, and extreme adaptability.
