Morgan Stanley released a report about lab-grown diamonds recently, calling attention to how they are disrupting the diamond trade. You can read a summary via the link below, but before you do, I thought I’d add a few words to temper the excessive drama that most media lend to these kinds of stories.
The truth is that lab-grown diamonds are a welcome source of new gems for consumers and the jewelry industry. That’s because the supply of mined diamonds, according to current industry projections, will decline in years to come, as known mine sources begin to peter out.
At the same time, demand for ALL diamonds is predicted to expand, not only for use in beautiful jewelry, but also for a variety of other high-tech industries that take advantage of a diamond’s hardness for industrial use. Lab-grown diamonds will fill this supply gap.
For consumers, this is good news, as it also gives you a choice between lab-grown and mined stones. If you fret diamonds might be the source of human rights abuses or have environmental impacts, a lab-grown diamond may be your best option.
As for the diamond trade, increased supply of lab-grown diamonds means sustainability in workers’ jobs. Diamond cutters and polishers need a steady supply of rough diamonds in order to work! So, as you read this article, keep these facts in mind – and celebrate the benefits of this great example of high technology.