Lab-grown diamonds are an important aspect of the evolving trends in the jewelry industry.
- Lab-grown diamonds are expected to reach a market value of nearly 52 billion U.S. dollars by 2030.
- China is a significant producer of lab-grown diamonds, but the United States dominates the retail market.
Lab-grown diamonds have lower environmental footprints and production costs compared to mined diamonds.
- The price difference between lab-grown and natural diamonds has been reducing over the years.
- The United States is a major player in synthetic diamond production and import/export market.
- Synthetic diamond production involves significant energy consumption, varying based on production methods.
- Lab-grown diamonds are gaining market share and are projected to account for 10% of the global diamond market by 2030.
