The lab-created diamond market has been rapidly growing in recent years, which has led to speculation about how it might affect the natural diamond market.
One potential impact is that lab-created diamonds may become a more affordable alternative to natural diamonds, as they are produced using advanced technology and do not require the costly and time-consuming process of mining. This could lead to a decline in demand for natural diamonds, and potentially result in a decrease in the value of natural diamonds.
Another potential impact is that lab-created diamonds may become a more popular choice among consumers, as they are often considered to be more sustainable and ethically-sourced than natural diamonds. This could lead to an increase in demand for lab-created diamonds, and potentially result in a shift away from natural diamonds in the diamond market.
However, it’s also important to note that lab-created diamonds still account for a relatively small percentage of the overall diamond market, and the natural diamond industry is still a significant global player. Additionally, many consumers still prefer the uniqueness and rarity of natural diamonds, and may be willing to pay a premium for them.
In conclusion, while the lab-created diamond market will likely continue to grow, it is not expected to completely replace the natural diamond market. It is likely to create more competition and alter the pricing structure of the diamond market, but it is not likely to lead to a complete extinction of natural diamond industry, as some natural diamonds will always hold a special significance to certain consumers.
Author: Barry Klein – Certified Gemmologist