Scientists have figured out how to grow synthetic diamonds in just 150 minutes, and that could be bad news for natural jewelry.
In a study published in a scientific journal Nature Last week, researchers from the Institute of Basic Sciences in South Korea detailed a new method of growing diamonds using a mixture of liquid metals.
The researchers created a mixture of gallium, iron, nickel and silicon and then placed it in a graphite chamber that rapidly heated and then cooled the metal while exposing it to a mixture of methane gas and hydrogen. Carbon atoms from methane leaked into the molten metal, becoming the embryo of diamonds.
Diamond fragments began to appear within 15 minutes, and after 150 minutes, “an almost continuous diamond film had formed,” the researchers write. lead time for “Oppenheimer” – a little more than 180 minutes.
This new method is even faster than current laboratory growing methods, which can take up to several months. It also uses significantly less pressure and heat, the researchers say. And it’s far from billions years required for a natural diamond to grow.
The research is still in its early stages, but the newly published study provides an opportunity for other researchers around the world to further innovate, according to Rodney Ruoff, a professor at the Ulsan National Institute of Science and Technology who led the study.
“Time will tell in terms of scalability and cost,” Ruoff wrote in an email Luck.
Making diamonds in a laboratory is becoming faster and easier than ever – just like it is with natural diamonds. a fall sales. Natural stones are losing their luster for some younger consumers who are increasingly prioritizing affordability and sustainability.
Is the future of diamonds synthetic?
In the first three months of 2024, 13.5% of diamond jewelry sold in the U.S. was made from lab-grown stones, according to Edan Golan, a diamond industry analyst.
Golan points to three main reasons lab-grown diamonds are attractive, especially to younger consumers: lower prices, larger jewels and environmental friendliness.
According to Golan, for two hypothetical diamonds with a similar appearance, the lab-grown version would be about 80% cheaper than its natural counterpart. Consumers get better value for money as they can access larger, brighter stones at lower prices when they purchase lab-grown stones.
The share of lab-grown ring sales in the first quarter of 2024 was significantly higher for engagement rings at 43%. According to Golan, the average American gets married around age 30, when he is often not yet at his earning peak. Proposing with a lab-grown engagement ring makes sense for those still in the early stages of their financial journey, Golan said.
“You’re still paying off student loans, you’re still on a car loan, and all of those things are part of your decision-making process,” he added.
To reach these younger consumers, major jewelry retailers are sprucing up their assortments with lab-grown products. Pandora, the world’s largest jeweler, began offering lab-grown diamonds in 2021. In 2023, the Copenhagen-based company’s revenue from sales of lab-grown diamonds reached DKK 265 million ($38.5 million), and its share price nearly doubled that year. .
On the other hand, De Beers, a company that once controlled 85% of the world’s reserves of natural diamonds, reported year-on-year sales decline of 37% in December 2023. Wall Street Magazine reported De Beers parent Anglo American was set to put the controversial diamond mining and retailing company up for sale last week.
Despite the sales challenges, Golan said it is unlikely that lab-grown diamonds will surpass real diamonds in popularity in the foreseeable future, as legacy companies such as Tiffany & Co. and Cartier, support the desirability of natural gemstones. But he predicts that demand for lab-grown stones will continue to grow in the near future.
“Especially if the next few years are difficult economically,” Golan said.
More sustainable?
Lab-grown diamonds are generally considered more environmentally friendly than their natural counterparts, especially given the well-documented story human rights violations in the diamond mining industry.
And while some independent lab-grown jewelry makers choose to disclose their sustainability practices, many large manufacturers are far less transparent about their supply chains.
Associated Press reported in February that several major lab-grown diamond producers in China and India did not respond to its questions about their sustainability practices. Most of China and India’s electricity is generated by burning coal.
“A lot of energy goes into creating a lab-grown diamond,” Golan said. “The question, however, is what is the source of this energy?”
Outsiders should not generalize the entire lab-grown diamond industry as “good” or “bad” for the environment, Golan said, since sustainability practices vary depending on the individual manufacturer.
The Golan listed producers in India, Israel and Namibia as relying heavily on solar energy. Some lab-grown diamond producers also offset their energy consumption with solar panels or use electric vehicles in their operations, Golan said.
“It’s not a binary thing,” he said.