KEY POINTS:
- Natural diamonds often referred to as “blood diamonds” are notorious for their less than ethical extraction processes
- Synthetic diamonds are providing consumers with less costly access to luxury jewellery
- The resale value of lab diamonds is currently unknown
In the world of luxury and romance, diamonds have held a prominent place for centuries. First developed some 70 years ago, recent advances in technology have introduced an attractive alternative to traditional natural diamonds – lab-grown diamonds. These exquisite gems, grown in a controlled environment using modern science, are becoming increasingly popular. It is estimated that by the year 2025, the lab-grown diamond industry will be worth $34.7 billion.
In this article, we’ll explore why people should consider man-made diamonds over natural diamonds, highlighting their ethical, environmental and economic benefits.
One of the most compelling reasons to choose synthetic diamonds is their ethical nature. Unlike natural diamonds, which are often associated with controversial issues such as mining conflicts, man-made diamonds are completely free of these ethical dilemmas. Natural diamonds can sometimes come from areas where mining is linked to human rights abuses and environmental destruction.
Lab-grown diamonds, on the other hand, are produced in a controlled environment, ensuring that there is no worker exploitation and a minimal negative impact on the environment.
However, there are some concerns regarding the transparency of jeweller’s production lines.
“They cannot say whether the energy-intensive process to grow the diamond is green or whether the factory where the stones were cut and polished protects workers from incurable diseases such as silicosis.,” states Amber Shultz of the Sydney Morning Herald.
Another important benefit of man-made diamonds is their low environmental impact. Traditional diamond mining can lead to significant habitat destruction, soil erosion, and water pollution. In addition, mining operations require a large amount of energy and release greenhouse gases into the atmosphere.
A 2014 study by Frost & Sullivan found that mining diamonds produces 4,383 times more waste than growing lab diamonds and revealed that diamond mining uses 6.8 times as much water.
Synthetic diamonds require less energy and reduce carbon emissions, making them a more eco-friendly choice for conscious consumers.
Synthetic diamonds are created under controlled conditions, allowing for greater purity and clarity. Natural diamonds often contain defects, inclusions, and impurities, which can affect their overall brightness and attractive appearance.
While lab-grown diamonds are marketed as having exceptional clarity and virtually indistinguishable from their natural counterparts, the synthetic gems can contain small metal impurities left behind by the metal flux used to transport carbon dioxide into the diamond seed. Consumers can now own a flawlessly beautiful diamond without paying exorbitant prices.
The process of creating artificial diamonds in the laboratory involves cutting-edge technology, representing an outstanding feat of human ingenuity. These gems are grown using either high pressure, high temperature (HPHT) or chemical vapour deposition (CVD) methods, which simulate natural diamond formation.
Through science and innovation, diamond manufacturers have perfected the art of creating diamonds with the same physical and chemical properties as natural diamonds but at a low cost.
Perhaps one of the most important reasons to consider synthetic diamonds is their affordability. Natural diamonds have a high price due to their rarity and the costs involved in mining and distribution.
In contrast, lab-grown diamonds offer a cost-effective alternative as they can cost between 60% to 80% less than natural diamonds, allowing individuals to purchase larger, higher-quality stones within their budget. This accessibility opens up the world of diamond jewellery to a wider range of consumers, making luxury more accessible to more people..
Synthetic diamonds offer unmatched customization. These diamonds can be grown in a variety of shapes, sizes and colours to suit individual preferences. Unlike natural diamonds, which are unpredictable in nature, lab-grown diamonds can be created on demand, ensuring a constant and reliable supply. This availability also reduces dependence on mining, further contributing to a sustainable and responsible diamond industry.
Another hot pot of contention with regard to lab-grown diamonds is their value compared to natural diamonds. The truth is, the future value of lab-grown diamonds is uncertain currently. It is tricky to ascertain right now whether lab-grown diamonds will retain their value, increase or reduce. It could very well be that the value of lab-grown diamonds could increase to catch up with the value of natural diamonds in the coming years.
It all boils down to personal choice as natural diamonds will not disappear any time soon. Many people still believe they are the superior product because of their rarity and already established resale value. The rapidly evolving technology behind synthetic diamonds is revolutionizing the diamond industry, giving consumers a more responsible and satisfying choice. As awareness increases and technology advances, it is likely that lab-grown diamonds will continue to shine brightly as the preferred choice of conscientious diamond enthusiasts around the world.