Editor’s Note
This article explores the rapid rise of China’s lab-grown diamond industry, highlighting the advanced production process that creates diamonds in weeks. It examines the sector’s significant growth, driven by technological innovation and shifting consumer preferences.
At the Yellow River Whirlwind lab-grown diamond factory on Renmin Road in Changge City, Henan Province, several cubic presses operate continuously under automated system control. Workers place high-purity raw material synthesis blocks into these presses, and within weeks, rough lab-grown diamonds are produced.
In recent years, the lab-grown diamond industry has garnered significant attention. According to data from market research firm Fortune Business Insights, the global lab-grown diamond market size is projected to grow from USD 25.89 billion in 2024 to USD 74.45 billion by 2032.
China’s lab-grown diamond market is also showing strong momentum. According to the “2024 China Jewelry Industry Development Report” released by the China Gems & Jewelry Trade Association, China’s total import and export value of rough lab-grown diamonds in 2024 was USD 122.96 million, a year-on-year increase of 82.11%; the total import and export value of finished lab-grown diamonds was USD 194.60 million, up 78.09% year-on-year.
Recently, 35-year-old Chenyang (pseudonym) spent around 10,000 yuan to buy a pair of one-carat lab-grown diamond earrings as a birthday gift for her close friend.
Chenyang said, adding that she would consider buying lab-grown diamond jewelry to “reward” herself in the future.
Unlike the “natural gestation” of natural diamonds, lab-grown diamonds are “cultivated” in laboratories. According to Li Jianhua, Chief Technical Engineer of the Diamond Division at Yellow River Whirlwind, lab-grown diamonds are currently primarily produced using two methods: High-Pressure High-Temperature (HPHT) and Microwave Plasma Chemical Vapor Deposition (MPCVD).
Liu Xiaolei, Sales Manager of the Diamond Division at Yellow River Whirlwind, stated in an interview that the demand for lab-grown diamonds has shown significant growth in recent years. This is due to both a shift in consumer attitudes and the multiple advantages of lab-grown diamonds themselves.
Compared to natural diamonds, lab-grown diamonds are nearly identical in composition, appearance, physical properties, chemical characteristics, and optical properties, while also offering certain price advantages. Unlike the lengthy growth process of natural diamonds, producing a one-carat lab-grown diamond can take as little as one week. With technological advancements, lab-grown diamonds have become a product that can be mass-produced with controlled quality.
On social media platforms like Xiaohongshu, Weibo, and WeChat, lab-grown diamonds are becoming a hot topic among young consumers. On Taobao, for example, searching for “lab-grown diamonds” reveals that some stores have sales exceeding 1 million yuan. On Weibo, the topic “lab-grown diamonds” has garnered 19.569 million reads and 42,000 discussions.
With the rise of self-rewarding consumption, more people are purchasing jewelry to reward themselves and express individuality. Guo Tianying, Manager of the Market Development Department at the Zhengzhou Lab-Grown Diamond International Trading Center (in preparation), said that an increasing number of consumers, especially younger ones, are beginning to view lab-grown diamond jewelry as a fashion choice rather than an investment.
said Mr. Liu, a consumer from Jilin.
said Ms. Wang from Shandong.
Currently, the lab-grown diamond industry still faces many challenges. Liu Yongqi, President of the Lab-Grown Diamond Branch of the China Gems & Jewelry Trade Association, stated that although the domestic lab-grown diamond industry is developing well, uneven development across the industrial chain and insufficient market awareness and penetration remain industry pain points.
The lab-grown diamond industrial chain can be divided into three main segments: upstream rough diamond manufacturing, midstream processing and polishing, and downstream retail.
The “2024 China Jewelry Industry Development Report” mentions that, according to incomplete statistics, China’s lab-grown diamond production in 2024 was approximately 22 million carats, a year-on-year increase of 144.44%, accounting for 63% of global total production.
Li Jianhua noted that although China’s lab-grown diamond industry holds an advantage in upstream production capacity, its midstream cutting and polishing capabilities are relatively weak, leading to uncoordinated development across the industrial chain.
said Wang Qinsheng, Chief Expert of the National Torch Program Superhard Materials Industrial Base and Honorary Chairman of the Diamond and Products Branch of the Chinese Mechanical Engineering Society. He believes that the weakness in the loose diamond processing segment has become a major bottleneck constraining industrial development, with high-value-added production still concentrated in foreign markets.
The “2024 Lab-Grown Diamond Industry Development White Paper” released by the Superhard Branch of the China Machine Tool & Tool Builders’ Association shows that China’s rough lab-grown diamond export volume showed significant growth in 2024, but the export value declined.
In the downstream market, due to low penetration, brands have yet to establish widespread value consensus and acceptance among consumers. Consumer perception of lab-grown diamonds is often biased, with many mistakenly equating them with “fake diamonds.”
Many netizens have posted on platforms sharing experiences of being questioned for buying “fake diamonds” after purchasing lab-grown diamonds, and some consumers even feel “inferior to natural diamonds” after buying them.
Currently, the variety of gem-grade diamonds on the market is increasing, with product quality varying greatly, making it difficult for consumers to distinguish between good and bad. Liu Yongqi advises consumers to carefully check relevant product inspection certificates when purchasing lab-grown diamonds, choose reports issued by authoritative institutions to understand product quality parameters, and purchase from reputable stores to protect their rights.
Currently, the lab-grown diamond industry overall exhibits a dual-driven development model of “technology-driven and market expansion.” How to lay a solid and stable foundation for the industry’s development is a topic of ongoing exploration within the sector.
First, enhance industrial chain layout, promote cooperation between upstream and downstream enterprises, and facilitate resource integration. Li Jianhua pointed out that to better address the “weak cutting and polishing segment” faced by the lab-grown diamond industry, midstream enterprises should improve their diamond polishing and processing technology levels to support downstream enterprises in expanding sales channels, forming a complete and efficient industrial chain system.
Wang Qinsheng suggested. He recommended strengthening the domestic workforce for loose diamond processing and improving the智能化水平 (intelligence level) of domestic loose diamond processing (cutting, polishing) to build a完善的 (complete) lab-grown diamond industrial chain, achieving seamless integration between rough, loose, and finished diamond production stages.
Second, policy empowerment to create fertile ground for industry development. Taking Zhengzhou, Henan as an example, as early as 2023, national lab-grown diamond production reached about 10 million carats, accounting for 50% of the global total, with Henan’s production accounting for over 80% of the national total. Zhengzhou’s annual production accounts for over one-third of the national total.
Zhengzhou is accelerating the construction of high-quality platforms. While promoting the introduction of the “Lab-Grown Diamond Inspection and Testing Standards,” it is also preparing to establish a National Lab-Grown Diamond Inspection and Testing Center; building a lab-grown diamond shared inventory platform and establishing a lab-grown diamond trading index system; forming a China Lab-Grown Diamond Industry Association Alliance to create a diamond industry ecosystem; and constructing superhard material industrial parks, innovation districts, cultural and creative parks, diamond exhibition halls, etc.
Liu Yongqi said.
Third, enhance brand value and reshape consumer perception. Wang Zhiqiang, General Manager of Henan Huifeng Diamond Co., Ltd., stated that lab-grown diamond enterprises can meet consumer demand for high-quality, environmentally sustainable diamond jewelry by improving product quality and service levels. Simultaneously, they should pay attention to the new generation of consumers’ demand for personalized customization to meet people’s individual needs.
Fourth, implement a global brand strategy. Going global is also a key focus for promoting high-quality industry development. Currently, the Zhengzhou Airport Economy Zone is actively promoting the construction of the Zhengzhou Lab-Grown Diamond International Trading Center, leveraging its openness and hub advantages to strive for local handling of import and export customs procedures for lab-grown diamonds, aiming to create a distribution center radiating domestically and reaching globally.
Although China’s lab-grown diamond brands have not yet formed sufficient cluster advantages, several enterprises such as Yellow River Whirlwind, Huifeng Diamond, and Zhongnan Diamond are choosing to start by完善产业链条 (improving the industrial chain) and increasing brand investment to “go global” faster.
Liu Yongqi stated.
