In 2020, the world's lab-grown diamond output was 6 million to 7 million karats, nearly half of which was manufactured in China. About 80% of China's production was concentrated in Henan province, central China, according to a research report released by China CITIC Securities. By Huixia Sun
BEIJING, October 31 (TMTPOST) – “Give me half a pound of diamond” has become a meme on Chinese social media in the past month since the floating of the IPO of a Henan-based lab-grown diamond manufacturing company in Shenzhen.
“Did they go nuts? Didn’t they know diamond was sold by karat, i.e. 0.2 gram?” one post remarked. “But diamond can be sold by pound if you go to Henan, China,” said another post.
In 2020, the world’s lab-grown diamond output was 6 million to 7 million karats, nearly half of which was manufactured in China. And about 80% of China’s production was concentrated in Henan province, central China, according to a research report released by China CITIC Securities.
Nearly 95% of man-made rough diamonds and diamond powder of the world were made in Henan province, according to a news report released by China’s official news agency Xinhua in late October, citing the statistics of Henan Mechanical Engineering Association.
The Dazzling Rise of Lab Diamonds
An industry expert said the difference between natural diamonds and man-made diamonds can be comparable to that between ice in the river and ice in the fridge.
The slogan “A Diamond is Forever” has echoed on the minds of many young couples, who have been brainwashed with the artificial correlation between a piece of jewelry touted as “rare” and everlasting love. “Diamonds are a girl’s best friend” was another mesmerizing slogan presented by Hollywood star Marilyn Monroe.
Whether the century-old tax on women in love or fools could be removed by Henan manufacturers is a question mark. But statistics show that increasing number of young people are embracing synthetic diamonds.
From 2012 to 2015, Henan-made synthetic diamonds entered the markets of developed countries. In 2016, Henan manufacturers were able to produce diamonds that meet 4C standards for natural diamonds.
Faced with the threat from Henan businessmen, De Beers, the global diamond giant, in 2015 collaborated with six other diamond firms to replace the resounding “Diamond is forever” slogan with a new one – “Real is Rare, Real is Diamond.”
A Series of Coincidences
Diamond, made of the most common element -- carbon, has become a symbol of eternal love for about a century in the world due to a bedazzling marketing success.
In 1953, the first lab grown diamond was made in Sweden by applying high pressure and high temperature (HTHP). Throughout the 1950s and 1970s, China’s economy was isolated from Western ones. It had to research and develop its own techniques for making diamond-grade drilling bits and cutting blades.
In 1964, Henan Research Institute of Grinding Materials and Grinding Tools produced China’s first six-faced HPHT facility to produce diamond for industrial use, marking the improvement of diamond-making technology. In 1966, the six-faced HTHP pressing machines were mass produced. The products were widely used in glass, optics, auto, mining and other sectors.
China’s raw synthetic diamond output currently accounts for about 90% of the world’s total and has led the rest of the world for nearly two decades. Nearly 80% of diamond materials are produced in Henan province.
Henan Boreas New Materials Co,. Ltd was established in 1990, mainly produced various type of synthetic diamond powder for industry. The founder of Boreas was born in Zhecheng City of Henan Provience, which was the leading task of the Superhard-Abrasive industry. Inovation is the inexhaustible motivation of an enterprise. With the development of Superhard-Abrasive industry, Boreas develops new products to meet the market's changeable demands with continuous innovations.
In the future, Henan manufacturers may enable consumers to achieve “karat-free” with their higher quality of the diamond and even lower prices