Moissanites vs. Blood Diamonds

Diamonds, generally worn for special events like proposals, have a hidden dark side—blood diamonds. These gems have cost over 50,000 lives in Africa over the last 10 years. Despite having rich reserves of diamonds, the Central African Republic (CAR) remains one of the world's poorest countries. Corruption and lawlessness are common in Africa. With weak governance and high corruption, diamonds are not properly regulated, leading to crime, violence, and smuggling. The money from this goes to armed groups and officials. Many people have died in religious wars. To tackle the ethical problems associated with traditional diamonds, many companies are now using moissanites. 

Moissanite vs. Diamond
Moissanite resembles exactly like a diamond. Moissanite has a more refractive index, higher than a diamond, which means it can split light more than a diamond making it more shiny and brilliant. Their gravity is relatively lower than diamonds making it significantly lighter than diamonds. However, its hardness is 9.5 on the Mohs scale, diamonds being 10. Moissanites have tiny white lines and can range in colors like green, yellow, or brown, and they shine brighter than diamonds due to the absence of a yellow tint. Some moissanite may fluoresce under UV light, often appearing greenish or bluish. Diamonds can also fluoresce, but the patterns and intensity can differ.

The Discovery and Legacy of Moissanite

Moissanite was first discovered by Henri Moissan, a French chemist who found this tiny particle in a meteorite crater. Initially, he thought it was a diamond because of its resemblance, but further research revealed it was silicon carbide. In honor of his contribution, the mineral was named moissanite. Moissan's research into its potential uses paved the way for future scientists and researchers.

Cubic vs. Hexagonal Moissanite

In the early days, moissanites used to be in different shapes and types, leading to some confusion. This variation was primarily due to differences in pressure and temperature in the production of moissanite. Moissanites are made of silicon carbide and have over 150 carbon structures- polytypes. The two most popular types are - cubic and hexagonal lonsdaleite forms.

Cubic Moissanite
It has a cubic arrangement of silicon and carbon atoms. This form of moissanite has a crystal structure similar to that of diamonds. Cubic moissanite is known for its radiance and hardness, making it a popular choice for high-quality jewelry. 

Hexagonal Lonsdaleite Moissanite
It was named after the British crystallographer Ida Newton. It has a hexagonal crystal structure. This form of moissanite is less common but is known for its unique properties and appearance. Hexagonal lonsdaleite moissanite exhibits different optical characteristics compared to cubic moissanite and its rarity can make it more intriguing for collectors and enthusiasts.

Processes for Synthesizing Moissanite 

In the CVD process, a seed crystal is chosen upon which the moissanite will grow. The seed crystals are generally made of graphite or silicon. The gasses used are silane or methane, which helps in silicon decomposition. The process occurs within a controlled chamber, with high temperatures ranging from 1400 to 1500 degrees Celsius and low pressure. Microwaves facilitate reaction with the gases to generate plasma which then reacts with silane and methane to form silicon carbide crystals.

The HPHT process creates the same conditions found deep inside the Earth where diamonds naturally form. It uses graphite as the carbon source and applies very high pressure (50,000-60,000 times greater than air pressure) and high temperatures (about 1,300-1,600 degrees Celsius). This causes the carbon atoms to turn into diamonds. Then, the pressure and temperature are slowly lowered to complete the diamond-making process.

Perception Challenges of Moissanite & Moissanite Demand Projections

Luxury products do not change their pricing according to the market, in fact, they increase their prices to create desire amongst consumers. This creates a challenge in establishing a luxury perception among consumers, as consumers may think of it as a fake diamond despite its close resemblance to a diamond. Engagement rings, being a high-value market, do not prefer lab-grown diamonds. The mass market can constitute price-sensitive consumers. Moreover, there is no supply-demand problem in moissanite as opposed to diamonds, making it less desirable. These synthetic gems are made in labs, so there's no issue with supply and demand. However, this also creates a problem for the luxury market. Luxury is usually linked to high prices and exclusivity, which makes people desire it more. Since moissanites are more affordable, they don’t have the same luxury appeal.  
According to a McKinsey report, Gen Z is inclined towards brands that source ethically and are free from scandals. The report said, 80 percent are likely to avoid brands that are involved in unethical sourcing. This significant shift in consumer behavior depicts that the newer generation is more likely to support brands that support the same causes as they do. Additionally, they are willing to pay a premium to a brand that speaks to their style, customization, and authenticity. If the government were to highlight the unethical sourcing of diamonds, the diamond market may significantly be reduced. Similar to the shift that occurred with fur coats in the 1990s.
Diamonds do not have a clear market price, and they are not very easy to sell, unlike gold or silver. This makes them a poor choice of investment.
The synthetic diamond market, valued at approximately $2.5-3 billion, includes both industrial and gem-quality diamonds. This sector is experiencing substantial growth, with a Compound Annual Growth Rate (CAGR) of around 6-10% annually. This rapid expansion is fueled by technological advancements in production methods, such as Chemical Vapor Deposition (CVD) and High-Pressure High Temperature (HPHT), which have significantly enhanced the quality and availability of synthetic diamonds. Additionally, increasing consumer awareness of ethical and environmental issues has made synthetic diamonds a more attractive alternative to natural diamonds. While synthetic diamonds currently hold a smaller market share compared to natural diamonds, which are valued at about $80 billion, they are gaining traction, especially in industrial applications and jewelry. The growth rate of synthetic diamonds far exceeds that of natural diamonds, which grows at a more modest 2-4% CAGR. As consumers continue to value ethical sourcing and cost-effectiveness, synthetic diamonds are expected to capture a larger segment of the market.

Sources

Synthetic moissanite: A new man-made jewel {Kurt Nassau16 Guinea Hollow Road, Lebanon, NJ 08833, USA} 
Lab-grown diamonds on the luxury market – How can they gain a competitive Advantage? {Lisa Welp} 
https://www.drthomaswu.com/uicmpaccsmac/Gen%20Z.pdf https://media.bain.com/Images/PR_BAIN_REPORT_The_global_diamond_industry.pdf

 

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