Lab-grown diamonds have been in the news recently as they have been touted as a possible solution to world diamond shortages. Here's everything you need to know about lab-created diamonds in Singapore.
Lab-grown diamonds are diamonds that have been created in a laboratory rather than mined from the Earth. They are made by growing small crystals of diamond inside a controlled environment. The process of creating lab-grown diamonds is still in its early stages, so there is still much that is unknown about them. However, research into this type of diamond is ongoing, and it is hoped that future advances will allow for the production of larger and more accurate crystals.
The World Diamond Council has estimated that the global market for gem-quality diamonds will grow from $27 billion in 2020 to $50 billion by 2025. However, the demand for diamond has outpaced the availability of high-quality gems, which has led to a worldwide diamond shortage. Lab-grown diamonds could potentially play a role in alleviating this shortage, as they are not subject to the same limitations as natural diamonds.
The production of lab-grown diamonds does not damage the environment in any way. In fact, they have some benefits over traditional diamonds. For one, they are more sustainable. Diamonds are a finite resource, and as demand rises, mines can become exhausted. By creating diamonds in a laboratory, diamond deposits can be exploited without depleting the resources. Additionally, because they are made from carbon instead of mined minerals, lab-grown diamonds have a lower carbon footprint.