Japan to enter the laboratory-grown diamond industry

Sold for around half the price of a similar natural gem, lab-grown diamonds are starting to catch on in Japan as more people embrace the idea of buying gems that are physically and chemically indistinguishable from natural diamonds, according to a report in www.japantimes.co.jp.
Production of lab-grown diamonds reached 6 mn to 7 mn carats in 2020, with most of the sales coming from the U.S., according to a report by Bain & Co. That figure could potentially triple by the end of the decade as demand climbs, particularly in China and other markets.
“I doubt we even have a 1% share of the market here because of the little supply and lack of resale market,” said Shigeyuki Ishida, representative director of Japan Grown Diamond Association. “It will grow from here.”
Mayumi Kawamura, who sells lab-made diamonds online, is sure that Japanese consumers will be a driving force in its sales. According to her Japanese people always look for an economic, environmental and ethical alternative to natural stones, which have long been associated with conflicts in Africa and the massive environmental footprint of modern mining.
Kawamura’s promote necklaces, earrings and bracelets studded with lab-made diamonds on Instagram and a photo-sharing platform to sell items costing about $70,400.
Even so, the Japan Jewelry Association has said that it “does not consider synthetic (lab-grown) diamonds as gemstones, because they are man-made and not scarce,” according to Hisao Kato, senior director of the association.
Kawamura however, insists this will change: “I see it as my mission to change this.”

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished