Editor’s Note
This article highlights China’s significant role in the global lab-grown diamond market, producing half of the world’s supply in 2020. The data underscores the scale and technological focus of this growing industry.
According to industry data, the global production of lab-grown diamonds in 2020 increased from about 6 million carats to 7 million carats. China’s production accounted for 3 million carats, representing 50% of the global total, primarily utilizing the High Pressure High Temperature (HPHT) production method.
The lab-grown diamond production base in Henan Province is one of the world’s largest. Lab-grown diamonds, which are physically and chemically identical to natural diamonds, cost only 3,000 to 6,000 yuan per carat to produce, compared to the price of natural diamonds which ranges from 10,000 to 20,000 yuan per carat. Lab-grown diamonds now account for about one-third of the global diamond market share. The annual production value of the local industry in Henan has reached 10 billion yuan, creating numerous job opportunities and driving significant economic growth.