The lab-created diamond market is expected to grow by almost US$4 billion by 2025, according to an independent New York-based industry analyst. Paul Zimnisky, an independent diamond industry consultant said that in the past five years technology and production of high-quality lab-created diamonds have greatly improved and penetrated a wider consumer market due to a significant price difference with natural diamonds, jewellermagazine.com writes.Estimated lab-diamond production for use in jewellery has grown from just a few hundred-thousand polished carats per annum as recently as four years ago, to almost 3 million polished carats in 2021 worth almost $2 billion, Zimnisky said.There has also been a noted increase in the number of suppliers and retailers of these alternative products for novelty and use as carbon-neutral brands and “super material” industrial applications.“It appears that many consumers that are choosing a lab-diamond in the place of a natural diamond are doing so because of the notable price differential,” Zimnisky said, adding that based on a survey of prices “one can buy a better-than-average-quality 2.15-carat lab-diamond solitaire for the price of an equivalent 1.00-carat natural.”Ziminsky believes the price differential between generic lab-created and natural diamonds has steadily widened in recent years, “in some cases expanding from a 10–15 per cent differential just a few years ago to as much as 75 per cent, or more.”
Аlex Shishlo for Rough&Polished
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