Why Lab-Grown Diamonds Are The Future Of Engagement Rings

For decades, mined diamonds have been marketed as a girl’s ‘best friend.’ Engagement rings had to feature this nature-formed gemstone to make proposals more meaningful. 

Why Lab-Grown Diamonds Are The Future Of Engagement Rings
[image: adobestock]

However, running this billion–dollar industry, where resource-intensive mining practices take a heavy toll on the environment, the people who work in these mines, and those who transport them. In 2003, the Kimberley Process was established to minimize the damaging impacts of so-called ‘blood diamonds.’ 

Since then, the global market for laboratory-grown diamonds has steadily increased. As such, the worldwide market value for lab-grown diamonds reached USD$22.45 billion in 2022. Experts project a steady industry growth of up to US$37.32 billion by 2028.

If you’re still unsure about which retailer is the best, do your research and Compare Blue Nile vs Brilliant Earth for better understanding. We’ll discuss why these manufactured gems should be the top choice for future couples.       

[image: adobestock]

1. .Lab-Grown Diamonds Look The Same As Natural Diamonds     

Natural diamonds are formed underground and subjected to intense pressure and high temperatures. While some of these gems develop in a few months, some natural diamonds take hundreds of years to create. 

Technological advancements make lab-grown diamonds look the same as mined diamonds. Laboratories have perfected the duplication of this natural process inside laboratories in shorter periods, eliminating the stark differences between these natural and manufactured gems.  

Both varieties have the same characteristics dictating value and quality: color, clarity, cut, and carat. They even sparkle in the same way. Because of these metrics, it’s easy to shop engagement rings online or in physical stores.  

2. Only Lab-Grown Diamonds Can Meet The Growing Demand For These Precious Stones

Some die-hard organic diamond fans could argue that the lab-grown counterparts couldn’t match the former’s rarity, which drives natural diamonds’ high market prices. Similarly, one of the world’s most famous diamond houses refused to sell manufactured versions of these precious stones for several years, but it seemed it was the only way to respond to market needs. 

Besides the call for better mining practices, the supply of natural diamonds has been falling in recent years, and experts projected a deficit in 2021. Raw diamond mining peaked in 2006, with outputs totaling 176 million carats. As with natural resources, this production volume may never be matched because the diamond supply is dwindling. That said, the demand for lab-grown diamonds is projected to increase steadily. 

3. Lab-Grown Diamonds Have Greater Purity And Better Quality

One thing that makes manufactured diamonds superior to their natural counterparts is the absence of inclusions, also known as impurities. As mentioned, diamond quality is determined by the four Cs, which include clarity. The lack of any inclusions means better quality and prices.

Moreover, stones grown inside labs are manufactured under rigorous processes and controlled environments to ensure purity. Manufactured stones have zero defects and, in most cases, look more impeccable than their mined counterparts. And that’s what buyers get when they purchase lab-created diamonds from VRAI and other reputable suppliers.  

4. They’re More Affordable 

Manufacturing diamonds cost less than mining because it’s less resource intensive. There’s no need to hire people to work overtime in mines or pay armed guards to secure the tunnels and the supply chain. As such, diamonds grown in labs are priced up to 60% lower than natural diamonds. 

With such affordable prices, future brides can get the ring of their dreams without worrying about the price tag. This also means they can get engagement rings with bigger stones and better sparkles while still having enough cash for a luxurious honeymoon experience. 

5. They’re Sustainable  

Lab-grown diamonds enable couples access to a wide range of high-quality engagement and wedding rings without guilt. Because no communities and people were harmed during the manufacturing processes of these gems, couples don’t have to think about the environmental, social, and economic impacts of possessing a diamond ring.      

Skipping unethical mining practices and their implications also translates to sustainability. The dwindling supply of natural diamonds is partly blamed on too much extraction in the previous years. Conversely, labs for diamond production can always adjust to market movements. For instance, at the first sign of a deficit, suppliers can always increase their production and slow down once the supply and demand stabilize.         

Concluding Thoughts  

Mined and lab-grown diamonds look identical, yet they don’t share the same manufacturing conditions. One is formed underground, while the other is developed above ground with fewer damaging impacts. As such, they don’t share the same prices, too. 

Lab-grown diamonds offer a better alternative to mined gemstones because of sustainability, affordability, and in some cases, better overall quality. With such benefits, the market can continuously supply these brilliant and valuable pieces for years.