Diamond News
A number of companies are now growing man made diamonds, chemically identical to natural ones, in a ...
Andrei VesselovskiA number of companies are now growing man made diamonds, chemically identical to natural ones, in a matter of weeks inside special labs.
More than 60 years after diamonds were first created synthetically in the 1950s, the industry is now worth around £10billion, according to forecaster Transparency Market Research.
It predicts the market will grow to a around £19billion by 2023, but some fear the cheaper product poses a grave threat to the natural diamond industry.
This astonishing rise is, in part, down to technological advances and a growing demand for man made diamonds which cost far less than natural ones.
Diamonds manufactured and sold by Washington Diamonds Corporation (WDC), which has perfected the process over fifty years, cost 'up to 50 per cent' cheaper than mined ones of 'equal quality'.
More than 60 years after diamonds were first created synthetically in the 1950s, the industry is now worth around £10billion, according to forecaster Transparency Market Research.
It predicts the market will grow to a around £19billion by 2023, but some fear the cheaper product poses a grave threat to the natural diamond industry.
This astonishing rise is, in part, down to technological advances and a growing demand for man made diamonds which cost far less than natural ones.
Diamonds manufactured and sold by Washington Diamonds Corporation (WDC), which has perfected the process over fifty years, cost 'up to 50 per cent' cheaper than mined ones of 'equal quality'.
| Inside the remarkable lab where diamonds are GROWN More than 60 years after diamonds were first created synthetically in the 1950s, the industry is now worth around £10billion and is expected to grow to an astonishing £19billion by 2023. |
