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Everything You Need To Know About Lab-Grown Diamonds

Last updated on October 08, 2024

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The market for lab-grown diamonds in Australia is booming. Back in 2016, they only accounted for around 1% of the diamond market. Today, that number is estimated to be between 50% in volume and 20-25% in value,, accounting for an impressive $23.3 billion in global annual sales. 

So, what’s the story behind this rise in popularity, and why are people making the switch to lab grown stones? 

This guide unpacks some of the questions you may find yourself asking, from the process and science behind lab grown diamonds, to their aesthetics, qualities and price point. If you’re thinking of taking a different approach to diamonds, this is the article for you.

Table of Contents

  • What Are Lab Grown Diamonds?
  • The Fascinating History of Lab Grown Diamonds
  • The Science Behind Lab Grown Diamonds
  • Unpacking the Environmental and Ethical Considerations of Lab Grown Diamonds
  • Cost Comparison: Lab Grown Diamonds vs Mined Diamonds
  • Exploring Market Trends and the Future of Lab Grown Diamonds
  • A Guide to Buying Diamonds in Australia
  • Designing and Customising Lab Grown Diamond Jewellery
  • How to Care for Lab Grown Diamonds
  • Conclusion: Is a Lab Grown Diamond Right for You?

What Are Lab Grown Diamonds?

diamond ring and bracelets on woman

Lab grown diamonds are, in fact, physically and chemically identical to their mined counterparts. The key difference lies in their origin. However, rest assured there are tools that can easily identify if your diamond is natural or lab grown.

Natural diamonds form under extreme pressure and heat over millions of years deep within the Earth's mantle. Natural diamonds are a scarce resource with entirely unique characteristics, sources and require a long journey to creation. No two natural diamonds are exactly the same. 

Lab grown diamonds, however, are created in a laboratory environment using technology that mimics these natural conditions and can be created within weeks or months.  The manufacturers are getting increasingly skilled at creating lab grown diamonds to a specific quality. Natural diamond value increases the cleaner and higher quality of the diamond because this is just nature relying on its environment to make the determination, making clean and high quality diamonds increasingly scarce.

The resulting lab grown diamonds can provide similar brilliance, fire, and hardness (10 on the Mohs scale) as mined diamonds, making them an increasingly popular alternative diamond rings and other jewellery.

The Fascinating History of Lab Grown Diamonds

The concept of lab grown diamonds isn't new. General Electric's first successful synthesis of diamonds occurred in 1955, the culmination of efforts begun by scientists as far back as 1879. 

However, the early methods were expensive and resulted in small, industrial-grade diamonds. Technological advancements in recent decades, particularly the development of High Pressure High Temperature (HPHT) and Chemical Vapour Deposition (CVD) processes, have revolutionised lab grown diamond production. These techniques allow for the creation of larger, high-quality diamonds at a more accessible price point. Let’s investigate them further. 

For more on lab grown diamonds and the difference between HPHT and CVD diamonds check out this video 

Lab-Grown Diamond Facts

90%

For a similar size and quality stone, lab grown diamonds can cost up to 80% to 90% less than mined diamonds.

Source: forbes.com.au 

The Science Behind Lab Grown Diamonds

assedding diamond

While the science itself may seem complex, there are essentially two primary methods for growing diamonds in a lab. Understanding the pair can help you choose the method and stone that’s right for you. 

 

High Pressure High Temperature (HPHT)

This process replicates the extreme conditions within the Earth's mantle. A tiny diamond seed is placed into a chamber under immense pressure and heat, making pure carbon that crystallises around the “seed”, forming a rough diamond.

 

Chemical Vapour Deposition (CVD)

This method involves placing the diamond seed in a vacuum chamber filled with carbon-enriched gases. Microwaves or lasers are then used to break down the gas molecules, releasing carbon atoms that then bond to the seed. The process gradually builds a rough diamond, layer by layer, over time

When comparing the two processes, CVD diamonds generally have fewer impurities, meaning the resulting stone is potentially higher in clarity. HPHT diamonds, on the other hand, can be grown in a wide range of colours, making them well-suited to beautiful coloured gemstone jewellery. 

While both of these methods produce different looking rough diamonds, even compared with rough natural diamonds, once they are cut and polished, to the layman's naked eye the differences are indistinguishable. 

 

The Properties of Lab Grown Diamonds - At a Glance

  • Hardness: Diamonds are the hardest natural substance on Earth, making them highly scratch-resistant.

  • Clarity: Like natural diamonds, lab grown diamonds can range in clarity from flawless to heavily included.

  • Brilliance: Lab grown diamonds possess the same fire and brilliance, with the ability to refract light and create that sought-after sparkle.

Unpacking the Environmental and Ethical Considerations of Lab Grown Diamonds

One of the most common questions raised around lab grown diamonds is their ethical and environmental implications. 

In some circumstances, traditional diamond mining can have a detrimental impact on the environment, from deforestation, to land degradation and water pollution. However, what is not well publicised is the incredibly stringent regimes placed on mining companies from the governing bodies where they mine to address environmental and ethical implications. In many countries, mining companies must build natural highway-like structures for the wildlife to circumvent mining operations and minimise the environmental impact. In addition to this, most mines in the world are required to have a plan in place for reclamation of the lands that mining is being conducted in. Some governments required up to $10 million in funds to be placed on hold to guarantee reclamation of the mining lands. Developing nations also rely on the mining industry to provide the revenue for governments who in turn can provide basic infrastructure to help the population such as hospitals, schools, access to fresh water, roads and access to a better quality of living. An example of the positive effects of the diamond industry on developing nations is Botswana in Africa, where the Botswana government receives half of its revenue from the diamond allowing for free education for all children, universal healthcare, and many employment opportunities.

Lab grown diamonds attempt to address these concerns, sometimes offering what looks like a more sustainable alternative. However, lab grown diamonds still use energy and resources in the massive factories where they are produced to create these gems. No industry can state that they have zero impact on the environment.

Choosing any diamond is usually made with ethical sourcing in mind. Mined diamonds can be linked to conflict diamonds, which finance wars and human rights abuses. For those seeking natural diamonds with ethical sourcing, certifications such as a GIA certificate can provide information on the diamond's journey from the earth to your jewellery. There are also regulations on the industry that prevent certain ethical sourcing, such as the G7’s ban on rough diamonds from Russia in the current world climate. 

Lab grown diamonds can bypass this ethical dilemma, but it too must be monitored to ensure it is presenting a true story and not one which only pretends to have no downside. 

With the majority of consumers expressing a desire to buy ethical jewellery, and the price of lab grown diamonds constantly reducing in price, it has become an attractive alternative for young couples who struggle under the high interest rates and overall increasing cost of living.

holding up lab grown diamonds

Cost Comparison: Lab Grown Diamonds vs Mined Diamonds

Lab grown diamonds are often priced around 30% lower than their mined counterparts of comparable quality. This price difference makes lab grown diamonds a more affordable option for achieving a larger or higher-quality diamond within your budget. 

Natural diamonds are often priced higher as they are a finite resource and are still the preferred option for many Australians when choosing their diamond. It is the available supply compared with the dominant demand that affects their value.

The cost of all diamonds can still be influenced by factors like the 4Cs, although current practices show that the normal grading standard are not being applied as strictly to lab grown diamonds. So while prices may vary significantly, the buying process and factors to consider are relatively similar. You can find a comprehensive explanation of the 4Cs approach to diamond grading in this article

Exploring Market Trends and the Future of Lab Grown Diamonds

rings on chain

The lab grown diamond market has experienced phenomenal growth. Consumer awareness and price savings are driving this surge. Advancements in technology are also enabling the production of even larger, higher-quality lab grown diamonds, further expanding their appeal.

Experts have mixed opinions about the continued strong growth for the lab grown diamond market in the coming years. However, current data suggests a downwards trend of lab grown diamonds in engagement rings compared with natural diamonds. As there are pros and cons to both lab grown diamonds and natural diamonds, with everyone's preferences and priorities differing, only time will tell what the future holds for the diamond market.

A Guide to Buying Diamonds in Australia

Now that you're armed with knowledge about lab grown and natural diamonds, here are some valuable tips for making your purchase:

1. Do your research: Familiarise yourself with the 4Cs and what factors influence the price of diamonds. Conduct your own research on the difference between a natural and lab grown diamond to determine which option best suits your needs and wants.


2. Shop with a reputable jeweller: Choose a jeweller who specialises in your chosen diamond and has a strong reputation for ethical sourcing and quality. You may want to check out some Q Certified Jewellers for a jeweller that meets your needs and expectations.


3. Ask for a grading report: Ensure the diamond comes with a grading report from a reputable gemological laboratory. The International Gemological Institute (IGI) report is the most popular for lab grown diamonds, while the Gemological Institute of America (GIA) report is the gold standard for natural diamonds.


4. Consider your budget and priorities: Determine your budget and prioritise which of the 4Cs are most important to you. For example, you might prioritise a larger size over a slightly lower clarity grade.


5. Ask questions: Don't hesitate to ask the jeweller any questions you may have about the diamond, its origin, and their policies.

Designing and Customising Lab Grown Diamond Jewellery

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Lab grown diamonds provide exciting opportunities for custom jewellery design. You can work with a jeweller to create a truly unique and personalised lab grown engagement ring, pendant, or any other jewellery piece that reflects your style and preferences. Popular settings for lab grown diamonds include classic solitaires, halos, and three-stone styles.

Check out our Step-by-Step Guide on Customising Your Engagement Ring to explore your own personalisation, no matter the type of diamond you choose.

How to Care for Lab Grown Diamonds

Lab grown diamonds are just as durable as mined diamonds, but proper care is still essential. Here's how to keep your lab grown diamond sparkling for years to come:

  • Clean your diamond regularly: Use a mild dish soap and warm water solution to gently clean your diamond. An ultrasonic cleaner can also be effective, but consult your jeweller first.

  • Store your diamond safely: Store your diamond jewellery in a soft pouch or jewellery box to prevent scratches from other gemstones or metals.

  • Schedule professional cleanings: Particularly important for lab grown diamond engagement rings, consider having your diamond professionally cleaned and inspected by a jeweller every six months to a year.


 Find more essential maintenance tips and answers to common questions in our guide to cleaning diamond rings.

colourful diamond

Conclusion: Is a Lab Grown Diamond Right for You?

The right diamond for you is as unique as you are. By taking into consideration the things that are most important to you when choosing your diamond, such as the 4Cs, ethical and sustainability concerns, and the rarity of your diamond, you can make the best choice for yourself. This article has provided you with a stepping stone of information for you to learn what’s best for you.

In short, lab grown diamonds offer a similar sparkle and brilliance as mined diamonds. If you're looking for a stunning and competitively priced option for your next jewellery purchase, a lab grown diamond could be the perfect choice. 

At JewelCover, we understand the importance of protecting your precious jewellery investment. Whether you choose a lab grown diamond or a mined diamond, we offer comprehensive jewellery insurance and engagement ring insurance in Australia, covering jewellery against loss, theft, or damage. Get a free quote online today..

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Lab Grown Diamonds - Australia - Frequently Asked Questions

Are lab grown diamonds real diamonds?
Expert jewellers consider lab grown diamonds a viable alternative for those who want a big stone at a low price. They boast similar brilliance, hardness, and makeup as mined diamonds. The major difference? Their origin and value. Lab grown diamonds are created in laboratories, while mined diamonds take millions of years to form underground. Despite this difference, both are recognised as diamonds by the US government trade department, however this is not the case worldwide, as there is currently push back in Europe which feels that lab grown diamonds can be misrepresented to the public.
What are the advantages of lab grown diamonds?
Lab grown diamonds avoid the social issues that can come with mined diamonds and leave a smaller footprint on the planet. Their affordability also allows you to stretch your budget for a bigger or higher quality stone. Plus, coloured options are readily available, and you're guaranteed a transparent origin. In short, lab grown diamonds allow you to choose a beautiful stone that may align with your values and budget.
Does a lab grown diamond look different to a mined diamond?
No, a lab grown diamond will not look different to a mined diamond to the naked eye. Because they share the same essential physical properties, they exhibit the equivalent sparkle, brilliance, and fire. Even a trained jeweller may need specialised equipment to distinguish between them. So, when it comes to beauty and visual impact, you can't tell the difference between a lab grown and a mined diamond.
Can you insure a lab grown diamond?
Absolutely! Lab grown diamonds can be insured just like mined diamonds. In fact, many reputable jewellery insurance companies, including JewelCover, offer coverage specifically jewellery including lab grown diamonds. Remember, even though lab grown diamonds are more affordable, they are still valuable possessions. You may want to consider insurance coverage which may help you to wear your jewellery more and enjoy the experience of ownership.

 

This article is advisory in nature and is offered as a resource to be used together with your professional insurance advice. It is an overview only and is not intended as a substitute for consultation with your insurance advisor or other professional advice.

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