Custom Lab Grown Diamonds Add a New Dimension to the Industry
NEW YORK, Jan. 19, 2023 /PRNewswire/ -- The global demand for diamonds is on the rise. To illustrate, high demand for diamond jewelry from emerging markets such as China, India, Brazil, and Thailand is driving the global diamond mining market. In addition, and perhaps unexpectedly, rising demand for diamonds for use in industrial applications has also boosted the global market. Diamonds that are not of commercial quality are used in industrial applications, such as grinding wheels for drilling, cutting, polishing applications, electronic chips, and laser components. In recent years, a new way to obtain diamonds has emerged. Lab grown diamonds, which are made in laboratories and factories and are identical to natural diamonds in their composition and appearance. Adamas One Corp. (NASDAQ: JEWL), Signet Jewelers Limited (NYSE: SIG), Rio Tinto Group (NYSE: RIO), Anglo American plc (OTC: NGLOY), Movado Group, Inc. (NYSE: MOV)
- In addition, and perhaps unexpectedly, rising demand for diamonds for use in industrial applications has also boosted the global market.
- Lab grown diamonds, which are made in laboratories and factories and are identical to natural diamonds in their composition and appearance.
- Increase in adoption of lab grown diamonds in the fashion and jewelry sector, along with increasing application of these diamonds in the industrial sector have spurred the demand for lab grown diamonds across myriad of industry verticals.
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