Lab Grown Diamond Industry : An outlook

Lab grown diamonds are same as mined diamonds minus polluting of our home planet and cruelty to humanity. Today with ever advancing technology we can make these diamonds within the matter of weeks and of better quality too. There are two types of lab-grown diamonds CVD and HPHT. India particularly specializes and leads in the chemical vapor decomposition (CVD) technology that is certified as the purest type of diamonds. These diamonds are relatively priced lower than the mined diamonds despite being 100 % diamonds because of direct cut down on capital and labor-intensive charges.

The global diamond industry has been facing headwinds lately while lab-grown diamonds seem to have emerged from the shadows of natural diamonds and established itself a growing footprint in the gems and jewellery industry.
With largest population of millennials in the world, a report has said that India is perceived to become the largest market for lab-grown diamonds in the future. India alone witnessed a sharp rise in lab-grown diamond exports worth $443 million which rose 102 per cent year-on-year.

This segment of the diamond is growing at an annual growth rate of 15-20 per cent. GIA predicted LGD sales to reach over $100b in near years from $20b today.