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Advances in technology have increased the price difference between lab-created and mined diamonds by as much as 1,000 per cent, a new report has revealed According to Bain & Co and the Antwerp World Diamond Centre's 10th annual Global Diamond Report, Brilliant Under Pressure: The Global Diamond Industry 2020-21, the retail price difference between natural and synthetic stones has widened yet again.
In 2020, the retail price of price of a 1-carat, G colour, VS-clarity lab-created diamond fell to only 35 per cent of an equivalent mined diamond According to the report's authors, the fall in price is expected to put lab-made diamonds in reach of more consumers "We believe additional price drops will make lab-grown diamonds accessible to broader groups of price-sensitive consumers and push them further into the fashion category, where they have growth potential," the report reads.
Diamonds manufactured via the high-pressure high-temperature method, largely concentrated in China, made up 60 per cent of global production; however, chemical-vapour deposition diamonds are gaining market share in both the US and India The Great Diamond Debate: Round IISynthetic diamonds prices fall 60 per cent. . Source
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