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Taking Over: More Than 50% of All LGDs are Now Produced in China

China has become the world’s largest lab-grown diamonds producer in 2020
LGD seed lab diamonds
Credit: Lightbox Jewelry

A Bain report backed by AWDC and quoted in Rough & Polished claims that China has become the world’s largest lab-grown diamonds (LGD) producer in 2020.

 

Lab Grown Diamonds Store
Credit: Iris Hortman

According to the report, LGD production reached 6-7 million carats in 2020, with 50% to 60% of it manufactured in China “using high-pressure, and high-temperature technology”. According to the Global Diamond Industry 2020-21 report, chemical vapour deposition technology for the production of LGDs “is gaining share, with India and the US emerging as major production centres”.

 

Lightbox Jewelry lab diamonds
Credit: Lightbox Jewelry

 

As for LGD prices, there was a fall in retail prices in 2020 while wholesale prices remained stable. “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 reports says.



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