Chinese lab-grown diamond companies eye opportunities at Las Vegas jewelry exhibition

Video: More than 50 Chinese lab-grown diamond companies took part in an ongoing jewelry show in Las Vegas, the United States, aiming to further develop the overseas market. (Xinhua)

Lab-grown diamonds, also known as lab diamonds or engineered diamonds, are made of the same chemical, physical and optical properties as earth-grown diamonds. They are increasingly popular in the United States and other countries, with sales booming.

LAS VEGAS, June 5 (Xinhua) -- More than 50 Chinese lab-grown diamond companies are participating in an ongoing North America's leading jewelry show in the U.S. city of Las Vegas, aiming to develop their overseas markets further.

The annual JCK Show at the Venetian Resort and Hotel provides an optimal stage for the global jewelry trade community.

"The joint appearance of Chinese lab-grown diamond companies at the JCK Show helps to improve the market awareness and recognition of Chinese brands and products," said Tang Jingjing, president of Tanghe Technology, a company founded in north China's Inner Mongolia Autonomous Region in 2018.

A man inspects a lab-grown diamond at the exhibition area of a Chinese lab-grown diamond company during an ongoing North America's leading jewelry show in Las Vegas, the United States, June 2, 2023. (Photo by Zeng Hui/Xinhua)

The global lab-grown diamond market was valued at 22.45 billion U.S. dollars in 2022 and is forecasted to grow to over 37 billion dollars by 2028, according to a report in March by ResearchAndMarkets.com, a leading source for international market research reports and market data.

"China is a major global producer of lab-grown diamonds, while North America is the biggest lab-grown diamond market worldwide," said Zhou Zhihua, marketing director of Henan Liliang Diamond Co., Ltd, a leading company in China's lab-grown diamond industry.

"We are improving the technical level through innovation and entering the international market with better quality diamonds, which will give consumers more choices," Zhou said, adding that the JCK Show is a platform for Chinese companies to know more about the North American market.

A man visits the exhibition area of Tanghe Technology during an ongoing North America's leading jewelry show in Las Vegas, the United States, June 2, 2023. (Photo by Zeng Hui/Xinhua)

Lab-grown diamonds, also known as lab diamonds or engineered diamonds, are made of the same chemical, physical and optical properties as earth-grown diamonds. They are increasingly popular in the United States and other countries, with sales booming.

Last year, JCK celebrated its 30th anniversary, attracting more than 17,000 attendees and 1,800 exhibitors worldwide, according to the organizer RX, part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.

With the continuous stream of visitors coming to the exhibition area of Liliang Diamond company, Ketan Jodhani, a wholesale jeweler from Quality Gold Inc. in Ohio, told Xinhua that he is satisfied with the quality of the company's lab-grown diamonds and after-sales service.

"We are quite happy working with them," Jodhani said, "and I hope it goes for years and years."