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Cultivating a thriving diamond market and realizing the possibility of "diamond freedom"

March 26,2024


Recently, many netizens photographed passengers at Longmen High-speed Railway Station in Luoyang, Henan Province receiving lab-grown diamond gifts distributed by the Luoyang Municipal Bureau of Culture and Tourism. While many netizens lamented that Henan deserves to be called a "lab-grown diamond province", it also made lab-grown diamonds once again attract everyone's attention.

In recent years, lab-grown diamonds have become popular in the market with their unique charms such as high cost performance and freedom of choice.

 With the improvement of production technology, the domestic production of lab-grown diamonds continues to grow.

"The good news is that lab-grown diamonds are gradually being accepted by mainstream consumers due to their excellent properties, which has also broadened the overall size of the diamond consumer market and created new market demand. The rapid development of power diamonds in recent years has benefited from the public's awareness of lab-grown diamonds. At the same time, we also hope to strengthen people's attention to this industry through the influence of streaming. Shao Zengming, chairman of Power Diamond,  said in an interview.

Hu Junheng, manager of the diamond division of the Yellow River Cyclone Co., Ltd., also believes that the continuous progress of lab-grown diamond growth technology has laid the technical foundation for the commercialization of lab-grown diamonds. The involvement of leading companies in the jewelry industry has become a huge driving force for the development of lab-grown diamonds. In addition, IGI, GIA, NGTC and other authoritative jewelry appraisal institutions, as well as the trade standard setting agencies of various countries, have improved the market management standards of the lab-grown diamond industry, making the whole industry more qualitative and orderly.

In addition, Zhang Dong, director of Colored Porcelain Diamond Supply Chain (Hainan) Co., Ltd., added: "Since lab-grown diamonds are more environmentally friendly and most products on the market can be grown and produced in China, this will attract a new generation of young consumers. ”

In the past few years, the popularity of lab-grown diamonds has been rising, attracting a lot of capital to enter, and then, due to the overcapacity of the upstream and the lack of penetration of the downstream, there is no strong brand support, therefore, it cannot be ignored that the lab-grown diamond market is still facing a huge test.

Hu Junheng first affirmed that lab-grown diamonds have unique and excellent properties in optical, thermal, electrochemical and semiconductor applications. "However, due to the limitation of production costs, the price of products is high. Many fields are still in the research and development stage and have not been fully and widely used. In the future, we will further develop high-purity lab-grown diamonds and trace element doping technology, conduct in-depth research on the application of lab-grown diamonds in the industrial field, and provide customers with products with special properties and higher cost performance. ”

And Shao Zengming also put forward his point. "At present, the overall demand for lab-grown diamonds in the domestic consumer market is huge, but the market consumption is mainly based on online platform sales, and the quality of the products sold is uneven. This requires the formation of a large-scale lab-grown diamond brand, so that consumers can buy high-quality lab-grown diamond jewelry at a reasonable price, so that the market is more transparent, so that consumers can spend more securely. I believe that with the continuous popularization of lab-grown diamond-related knowledge, some problems in the industry will be slowly solved and contained. Shao Zengming said.

Although the lab-grown diamond market is currently facing some challenges, there is still plenty of room for development in the future. Relying on the large-scale industrial diamond industry with profound technical accumulation, it is believed that China's lab-grown diamond industry can grow rapidly.

In this regard, Shao Zengming is full of confidence in the future development of the lab-grown diamond market, and he believes that the lab-grown diamond market has huge room for growth in the next two years. "The maturity of the international market for lab-grown diamonds has stimulated the development of China's lab-grown diamond market. In the field of jewelry, many international jewelry brands have been gradually promoting lab-grown diamond series jewelry, and lab-grown diamonds will have more room for development in the jewelry market. ”

"I think it's an irreversible trend that lab-grown diamonds will eventually take a share of the market and gain the favor of consumers. In order to achieve better development, all industry players must strengthen their confidence and contribute to the better development of Chinese lab-grown diamonds to the world. Speaking of this, Zhang Dong replied.

When asked how to change the status quo, Shao Zengming believes that industry supervision and related policies should be gradually improved, standardize online sales platforms, and ensure the quality of lab-grown diamonds sold on the platforms. On this basis, influential enterprises are encouraged to lay out a national lab-grown diamond sales network, so that consumers can have a close understanding of high-quality lab-grown diamond products.

"In the future, the lab-grown diamond industry is facing a period of rapid development, not only in the application of jewelry rapidly expanding, but also in the industrial application of the proportion of products will gradually increase, so the development prospects of lab-grown diamonds will become broader and broader. We will further increase the development of lab-grown diamond synthesis technology according to market conditions, increase the output and output value of lab-grown diamonds, and further improve the profit margins of existing products. With the iterative upgrading of lab-grown diamond synthesis technology, the product quality has been continuously improved, the production cost has gradually decreased, and the rapid development momentum of lab-grown diamonds is obvious. In order to improve the comprehensive performance of lab-grown diamonds and meet the needs of the industry for the functional application of diamonds in optics, thermal, electronics and other aspects, we will continue to increase the development of high-purity lab-grown diamond synthesis technology and trace element doping and control technology, and continue to expand the application field and market space of lab-grown diamonds. Hu Junheng said.

With the popularity of social platforms and the promotion of various marketing activities, consumers' awareness and recognition of lab-grown diamonds are gradually increasing. Taking Xiaohongshu as an example, the number of notes related to the search keyword "lab-grown diamond" is more than 350,000. This has contributed significantly to the expansion of the lab-grown diamond market and the growth of demand.

In addition, as people pay more attention to environmental protection and sustainability, the eco-friendliness of lab-grown diamonds will attract more consumers. Lab-grown diamond companies can meet consumer demand for high-quality, environmentally sustainable diamond jewelry by improving product quality and service levels. At the same time, we pay attention to the needs of a new generation of consumers for personalized customization, so as to meet people's individual needs.
More importantly, the lab-grown diamond and supermaterial industries need to be mutually reinforcing. This requires enterprises to vigorously develop the application technology of diamond as a functional material and popularize it, so as to promote the progress of the entire industry.