Lab Grown Diamonds | They’re Brilliant!
Lab-grown diamonds are becoming an increasingly sought-after replacement for natural earth-mined diamonds. As the name suggests, instead of being extracted from the earth, lab grown diamonds are created in a laboratory using advanced technology. In today’s article, we will explore the benefits of lab-grown diamonds against natural diamonds. We will focus on sustainability, environmental impact, ethics, cost considerations, and also, the future of the diamond industry.
Sustainability & Environmental Impact
Two significant benefits of lab-grown diamonds are sustainability and reduced environmental impact. Natural diamonds are often mined in environmentally sensitive areas, where the extraction process can cause significant habitat damage and loss of biodiversity at the mine site and surrounding area.
In contrast, the amount of energy and resources used to produce lab grown diamonds is significantly less than that required to mine natural diamonds. The controlled environment needed for lab-grown diamond production utilizes less energy, wastes less water, and expends fewer greenhouse gas emissions than the processes used to earth-mine diamonds, and as we continue to see improvements in the technology used to produce lab grown diamonds, they become an even more sustainable choice.
Furthermore, as society becomes more environmentally and ethically conscious, lab-grown diamonds may become the preferred choice for consumers looking for a diamond that is not only beautiful, but that is also sustainably sourced. This trend is evidenced by the increasing popularity of lab grown diamonds that we have seen in recent years and owing to increased consumer awareness of the environmental and social impacts of natural diamond mining we expect this trend toward lab-grown diamonds to continue. Consumers are becoming more mindful of the environmental damage caused by mining, as well as the human rights violations that can occur in the diamond industry. We are also seeing an upswing in consumers becoming more conscious of their own environmental footprint and looking for ways to reduce it.
Ethical Considerations
Another driver of increased lab-grown diamond popularity is the lack of social and ethical concerns. In the natural diamond mining industry, there have been numerous reports of human rights violations, such as forced labor and child labor. Additionally, there have been instances of diamonds being used to finance armed conflict, a practice known as “blood diamonds.” Conversely, lab-grown diamonds are not linked with any human rights or labor violations, so consumers have peace of mind that their diamond was not obtained through unethical means.
Cost
Lab grown diamonds are chemically identical and almost indistinguishable from natural earth-mined diamonds. Lab-grown and natural diamonds are both composed of pure carbon that has been subjected to the intense heat and pressure that is needed to form a diamond’s crystal structure. Lab grown diamonds have the same physical and optical properties as natural diamonds and are equally as hard, durable, and sparkle just as brilliantly. Lab-grown diamonds are also certified by world-leading gemological laboratories such as the GIA and IGI, showing consumers that lab-grown diamonds are judged by and meet the same standards and quality as mined diamonds. This is a key factor because in addition to their sustainability and identical chemical composition, lab-grown diamonds are significantly less costly than natural diamonds. Because they are grown in a lab rather than mined from the earth, the cost of producing lab grown diamonds is substantially lower. This lower cost is passed on to the consumer making lab-grown diamonds a more affordable option than mined diamonds. This is particularly beneficial for those who have always wanted a diamond but couldn’t afford it due to their traditionally high price points. The cost difference between lab-grown and natural diamonds can vary, with lab-grown diamonds typically costing around 30-40% less than natural diamonds.
Conclusion
In conclusion, lab-grown diamonds offer several benefits over natural earth-mined diamonds. They are chemically identical to natural diamonds, but more sustainable and cause less environmental damage than mined diamonds. Furthermore, lab-grown diamonds are less costly and not linked with any human rights or labor violations. As more consumers become aware of their benefits, the market for lab-grown diamonds is projected to grow exponentially. This is supported by various reports and surveys which indicate the demand for lab-grown diamonds is expected to increase in the future. Some estimate that the market for lab-grown diamonds could reach $22.8 billion by as early as 2035!
Contact BBJ Bangkok today for lab-grown diamond designs and see sustainability meet affordability.
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