Core Viewpoint - The diamond industry is undergoing a significant transformation, driven by technological advancements in China, leading to a decline in natural diamond prices and a challenge to the traditional business model dominated by companies like De Beers [1][4][11] Industry Overview - The discovery of diamond mines in South Africa in the 1870s initiated a capital-driven scheme by Western companies, particularly De Beers, which controlled 99% of diamond mines and artificially created scarcity, resulting in a 300% price increase in the 20th century [3] - The market penetration of diamond engagement rings in China surged from 5% in 1993 to 70% in 2019, demonstrating the growing demand for diamonds [3] Technological Disruption - A research team from the Chinese Academy of Sciences in Zhecheng, Henan Province, has achieved a technological breakthrough that produces lab-grown diamonds indistinguishable from natural ones, effectively challenging the long-standing scarcity myth [4][6] - Zhecheng's annual diamond production has reached 4 million carats, accounting for 44.4% of global output, establishing it as a key production base for lab-grown diamonds [6] Market Dynamics - The rise of lab-grown diamonds has led to a shift in consumer preferences, with brands like "Zheguang ZG DIAMOND" offering competitive pricing and quality, thus providing consumers with more choices [6][8] - A notable example includes a consumer purchasing a 6-carat diamond ring from Zheguang for 8,000 yuan per carat, significantly lower than the millions typically charged for natural diamonds of similar quality [6] Competitive Landscape - The market share of lab-grown diamonds has approached 50% as of July 2023, with projections indicating the global market could reach $21.4 billion by 2030, highlighting strong growth potential [8] - Traditional diamond companies are facing challenges as their reliance on high-priced marketing and brand premiums becomes less effective, with consumers increasingly valuing product quality and actual value [11]
美企破产后甩锅中国?外媒急眼:河南8000元钻石定价坏了百年行规
Sou Hu Cai Jing·2025-05-16 19:56