Every year, more and more people turn to lab grown diamond growers when it comes time to buy jewelry. Not only do these man-made diamonds look like natural diamonds (they even have the same chemical composition!), but they’re also significantly cheaper and easier to purchase than their mined counterparts, making them perfect for those who are on a budget or don’t have access to quality mined diamonds. But while they’re relatively new, one big question remains: how big can lab has grown diamond growers get?
The background of lab grown diamond Growers.
lab grown diamond growers, which are also known as cultured diamonds, have been manufactured since 1953 and come from a few different techniques. Currently, there are two common techniques for making lab-grown diamonds in bulk—chemical vapour deposition (CVD) and high pressure/high temperature (HPHT). Since they first came onto the market at a lower price point than mined diamonds, these stones have grown to become an alternative option for consumers and fashion designers alike. The consumer buying lab-grown diamonds are looking for a diamond that’s still naturally formed but at a much more affordable price tag.
Fashion designers are interested in using lab grown diamond growers because of their unique ability to create colourless stones with fewer impurities. And both consumers and fashion designers can benefit from lab-grown diamonds’ increased availability due to their low cost of production compared with mined diamonds. It’s estimated that lab-grown diamond production will increase by nearly 700 per cent over the next decade alone! That’s great news for anyone who wants a diamond or anyone who wants to invest in one. But how big can lab grown diamond growers get? Here’s what you need to know about CVD and HPHT technology before you start investing your money…
Everything You Need To Know About CVD Diamonds
If you’re wondering what lab-grown diamonds are and how they stack up against mined diamonds, here’s what you need to know. There are a few types of lab-grown diamond materials, but CVD is one of them—and it’s turning out to be one of the most popular methods for growing gem-quality stones. What exactly is CVD, though? And how does it work? Learn more about what you need to know about CVD diamonds. You may even decide that lab-grown diamonds are right for you!
What Is a Lab-Grown Diamond? A lab-grown diamond is just like a natural diamond in every way, except it’s manmade in a lab instead of mined from deep within the earth. Lab diamonds can often be grown faster than natural ones—it typically takes two years to grow some lab-grown stones; while mined ones can take thousands of years.
The Growth Rate Of CVD Diamonds
Lab grown diamond growers were first created in 1954, but due to low industrial demand for synthetic diamonds during the 70s and 80s (diamond prices were falling), growth was slow for CVD diamonds manufacturer. In more recent years, however, growth has picked up considerably with several new facilities have opened over the last 5 years. I estimate a compound annual growth rate of 16% from 2011 to 2019. This implies that in 5 years there will be 18 times as many lab-grown diamonds as there are today!
But is it realistic to expect such strong growth? Here’s why I think so… The most important factor is supply – right now all lab grown diamond growers come from just two companies, both of which have been operating since 2004. As they continue to grow their production capacity by adding new machines they will bring down costs and make it easier for other producers to enter the market. This should drive further growth in production capacity at existing facilities which could easily lead to a 4x increase by 2019.
Where Will The Industry Be In 5 Years From Now?
For a good look at how quickly lab grown diamond growers are growing in demand, consider that while many industry experts predicted they would reach $200 million annually by 2020, they’re now on track to hit that number within one year. What will be driving lab-grown diamond sales so hard and fast over the next five years? It turns out there are several factors at play. For starters, lab created diamonds growers have consistently been of higher quality than their mined counterparts.