How many synthetic diamonds are on the market?
Release time:
2014-11-24 02:10
IGI International Gemological Institute synthetic diamonds are "real diamonds"? The answer is yes. It's just that natural diamonds are formed naturally over a long period of time, while synthetic diamonds are synthesized in a short period of time." The concept of "genuine and fake diamonds" is used to distinguish between diamonds and their imitations.
In May 2012, IGI Identification Laboratory (International Gemological Institute) received a batch of diamonds for inspection. A diamond merchant bought 605 diamonds ranging in size from 0.30 to 0.70 karat. At the time of purchase, he believed that the diamonds were all natural diamonds. IGI's final test found 461 undisclosed synthetic diamonds mixed in with the diamonds. In fact, the topic of synthetic diamonds has been a hot topic of discussion in the diamond industry in recent years, but there has been a lack of accurate statistics on the trading market. (HPHT synthetic diamonds, classic brilliant yellow) So, in the entire diamond consumer market, how many synthetic gem-quality diamonds are in circulation?
At present, the world's companies engaged in synthetic diamond production, in addition to the industry's well-known Gemesis (recently renamed Pure Grown Diamond), Chatham, Element Six, Scio, there are more manufacturers we do not know in private production, and new manufacturers continue to join the synthetic diamond industry. Tom Chatham, CEO of Chatham Created Gems, once pointed out, "There are many people engaged in diamond synthesis in Russia. They don't have their own official website, they just operate on LinkedIn or Facebook. Some of their products are of quite good quality. According to U.S. government statistics, at least 15 countries around the world are capable of producing synthetic diamonds, although they are likely to be mostly producing industrial diamonds."
Botswana is currently one of the world's most important drilling regions, and a local NGO has conducted a survey on the impact of synthetic gems on the mineral-based economy. In particular, the study points out that diamonds with smaller carats make statistics difficult. "It is almost impossible for us to count how many synthetic gems are in the jewelry supply chain and inventory. Natural gems and synthetic gems are difficult to distinguish with the naked eye. Moreover, due to cost considerations, many diamonds below 0.20 karat are not submitted for inspection at all." According to the experience of IGI laboratories, diamonds submitted for inspection are generally above 0.25 karat. For diamonds of 0.18 karat or smaller, the inspection fee is usually higher than the price of a single stone. It is these small weight diamonds that bring hidden dangers to industry transactions and increase the difficulty of statistics. Considering the above circumstances, it is difficult to draw conclusions about the market share of synthetic diamonds. Here to share with you the statistics given by some institutions, we will find that the results are not the same.
Earlier this year, the Gem & Jewellery Export PromotionCouncil published a study on synthetic diamonds and the industry as a whole, which concluded that the current production of synthetic diamonds is about 350000 carats, equivalent to the production of 0.125 billion carats of diamond raw ore.
In 2014, Frost & Sullivan's survey report on synthetic diamonds pointed out that in terms of market value, synthetic diamonds currently constitute 0.2 to 0.6 percent of the sales in the refined diamond market, which is about US $45 million to US $135,000,000, and predicted that this proportion would rise to 1.1 to 3% within two years, but the survey did not give a specific carat output.
Industry analyst Paol Zimnisky estimates that 1 million carats of gem-quality synthetic diamonds will be used in jewelry this year, which is about less than 1% of all diamond production. He also pointed out that "unless there is a larger distribution system, the production of synthetic diamonds will always be restricted." He believes that well-known jewelers and retail stores will eventually part of the counter sales of synthetic diamonds, although this will take some time. And without distribution channels, it is difficult to secure profits for manufacturers of synthetic gem-grade diamonds, especially when the production of industrial diamonds is profitable.
Bain Consulting's 2011 Global Diamond Industry Report noted that only 0.01 per cent of gem-quality diamonds are synthetic, but Bain only mentioned them in a chart without elaborating. (Polished synthetic diamonds of various colors cannot be identified by simple instruments. At present, colorless synthetic diamonds can reach D color)
The highest valuation of synthetic diamonds in the industry comes from Even-Zohar Chaim, an Israeli analyst and reporter. He believes that of the $22 billion refined diamond goods sold in 2012, at least $0.5 billion is the sales of synthetic diamonds, especially in the range of 1-3 karat diamonds. According to his valuation, synthetic diamonds account for 2.27 per cent of sales.
Of the many estimates above, those who actually trade in synthetic diamonds are more likely to believe the lower numbers, and they are skeptical of the supposedly large number of small-carat synthetic diamonds on the market, especially in the lighter-colored part. Chatham companies say that small diamonds in natural diamonds are enough to supply the market, and it is not cost-effective to synthesize colorless diamonds with small carat weights. Merchants are not willing to pay the same price as natural diamonds, and they usually believe that synthetic diamonds should be sold at a lower price.
But the problem is that in the cutting and polishing of diamonds, the cost of natural diamonds and synthetic diamonds is the same, and the price of small carat diamonds is not high, and the cost is almost all in cutting and polishing. Thus, while the trade in synthetic diamonds is growing around the world, it is still only on a small scale. Each synthetic diamond is synthesized in a tightly controlled environment and can only be produced one at a time. Synthetic diamond machines, however, are expensive and produce only a few diamonds a month. Assuming that synthetic diamond manufacturers want to achieve 10% of the annual natural diamond production, this figure is 15 million carats, and in order to achieve this scale of production, the cost of equipment alone exceeds US $10 billion.
In the future, with the progress of synthetic technology and the gradual decline in the cost of synthetic diamonds, more synthetic diamonds and jewelry may enter the trading market. We can find other areas of the jewelry industry, such as fully disclosed cultured pearls and synthetic colored treasures that can find their place in the market. Therefore, for the future of synthetic diamonds, whether consumers are willing to accept is the key. At the same time, beware of unscrupulous merchants selling synthetic diamonds as natural diamonds. IGI has repeatedly pointed out at industry conferences that today's international laboratories have the technical strength to detect and distinguish synthetic diamonds. The IGI identification laboratory issues an identification report for the synthetic diamond, identifying it as "LABORATORY GROWN DIAMOND" and inscribing "laboratorygrown and number" on the waist ". For consumers, the identification certificate issued by the authoritative identification laboratory is the fundamental guarantee of consumption.
In addition, in addition to synthetic diamonds, the market also has some diamond imitations, such as synthetic moissanite, synthetic cubic zirconia, synthetic sapphire and so on. The so-called "teach you to identify true and false diamonds in one second" circulated in the community is actually the so-called "line pressing method". Because of the high refractive index of diamonds, a black line is pressed against a diamond. Usually, the black line cannot be seen through the diamond. If the black line can be seen clearly, it is probably not a real diamond. However, this approach is limited, only applicable to round brilliant cut diamonds, and for synthetic moissanite such specific gravity, hardness, refractive index and diamond are very close to the stone, you also need the assistance of other methods.
Because the consumer market has little knowledge of synthetic diamonds and diamond imitations, these topics have caused some unnecessary panic in recent years. In fact, these worries are unnecessary, because IGI and other authoritative laboratories are fully capable and experienced to test all kinds of synthetic diamonds and imitations. As long as they recognize the description of "NaturalDiamond" natural diamonds on the identification certificate and really understand the information on the identification certificate, there is no need to worry too much.
At present, diamond consumption is still the most important part of jewelry. In the Chinese market, diamond wedding rings are gradually replacing gold as the rigid demand for young people to get married. Moreover, there are no longer only round and brilliant diamonds in the jewelry counter, and there are more and more special-shaped cutters and colored diamonds. In IGI, the fine drilling appraiser class has always been a popular classic course. In the course, you will learn: how to identify 4C diamonds, colored diamonds and fancy cutting, how to identify imitation diamonds, current international cutting-edge diamond synthesis and processing technologies, and domestic and foreign diamond industry chains, etc. The course adheres to IGI's consistent practical principles, has a large number of practical operation links and provides rich diamond samples for students to practice. The specific arrangement of the 2015 fine drilling course is as follows: if you are interested in signing up or consulting courses, please contact IGI Shanghai Branch 021-38760730 or shanghai@igiworldwide.com more course information. Please visit www.igiworldwide.com
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