Grown diamond production to reach upto 20 million carats by 2030: PHD Chamber of Commerce and Industry

A study by PHD Chamber of Commerce and Industry views the production of grown diamonds would scale up to 20 million carats by 2030, reports say. In comparison, the natural diamond production by 2030, would reduce to 62 million carats from 125 million carats in 2015.

referring to the same time period, the study tells that demand for diamonds will stand at 221 million carats, the lab grown diamonds are expected to serve atleast 13 percent of this demand supply gap, and the potential to meet more demand is not limited in lab grown diamonds. At present, grown diamond production stands at 3,60,000 carats as per the study, reports say.

The study further identifies grown diamonds as those grown by ‘scientists in the diamond greenhouse’ and are identical to the mined diamonds with similar properties. Also, the grown diamonds, as per the study inform about the diamond’s ecological and origin guaranteed source, reports say.