China paves the way for production of lab-created diamonds
The production of laboratory-created diamonds in China is undergoing interesting changes. Two of the main Chinese producers, Zhengzhou Sino-Crystal Diamond Co Ltd and Zhengzhou Sino-Crystal Diamond Co Ltd, intend to produce lab-created diamonds for jewelry design and manufacture, in addition to stones for industrial purposes. .
According to Aruna Gaitonde, Asian writer Rough and polished, a website dedicated to analyzing the processes determining the development of global mining, gemstones and metals markets, the Henan-based Zhengzhou Sino-Crystal Diamond increased its R&D investment by 14, 4% to reach $ 75.2 billion last year.
“The company’s technological advancements in diamond manufacturing, refining and polishing, as well as its equipment, have enabled it to produce gem-quality diamonds in white, pink and blue. In addition, the increased investment was aimed at developing artificial intelligence in manufacturing and tapping into China’s growing consumer market for jewelry lab-grown diamonds. “
She says the Chinese domestic market has grown rapidly due to the scarcity of demand in the international market: “In China, where 90% of the world’s LGD diamonds are produced, diamonds grown for the consumer market account for 3% of the market. total diamond market. . “
Gaitonde refers to another Chinese company, Henan Huanghe Whirlwind, a publicly traded company engaged in the research, development, production and sale of ultra-hard materials and related products. An extra hard material is a material whose hardness value exceeds 40 gigapascals (GPa) when measured by the Vickers hardness test.
“Huanghe Whirlwind can now provide customers with product categories, complete specifications and stable performance of all kinds of extra hard materials and products, including monocrystalline extra hard materials and products and products, cubic boron nitride and products, polycrystalline diamond and products, as well as extra hard auxiliary materials.
“When it comes to lab-grown diamonds, Huanghe Whirlwind can be considered the biggest market leader today. Monocrystalline diamond produced by Huanghe Whirlwind is the staple product of the extra hard materials industry chain, and the company is one of the most important extra hard materials enterprises in Henan Province, ”Gaitonde explains. .
The amount of lab-created diamonds by Huanhge Whirlwind in 2020 accounted for around 20% of the global lab-created diamond market, of which Gaitonde believes “high-end quality will be over 50%.”
Its report, released last week, concludes: “In recent times, China’s domestic market has grown rapidly, and the dearth of demand in the international market has led to the growth of the Chinese market. In China, where 90 percent of the world’s LGDs are produced, diamonds grown for the consumer market represent 3 percent of the total diamond market.
She believes the market for lab-created diamonds is expected to represent 10% of the global diamond market by 2030. In 2019, China was by far the world’s largest producer, accounting for 56% of the production of lab-created diamonds. while India accounted for 15 percent of the share, with the United States producing around 13 percent.
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