According to a recent report, a Hong Kong-based developer of tech systems for detecting lab-grown, imitation and treated diamonds has created a new device aimed at amplifying the range of detectable merchandise to include all rough and polished stones in the lower yellowish-to-light-brown colour ranges.
According to the developer, this is the first device capable of identifying the yellowish gems together with the colourless to a near-colourless range of diamonds.
The way it works is that the system scans the rocks at the temperature of liquid nitrogen as opposed to examining them at room temperature.
The firm’s founder and the president noted that the aim is to provide as accurate results as possible, insisting that all diamonds being tested to detect the possible presence of synthetically-produced goods be examined at temperatures in a liquid nitrogen atmosphere.
Since this can only be done reliably and safely in a proper laboratory setting, the firm has chosen not to sell the equipment it has developed, but rather to use it exclusively as part of the service it provides the trade.
The new DND system improves that offering, widening the range of goods that can be screened to include all goods at the lower end of the standard colour range.
DND stands for Diamond Natural Device and, according to its manufacturer, the system is also capable of scanning loose diamonds and diamonds set in jewellery, in large quantities, and with no size limitations, in short periods of time.
The diamond market in Hong Kong
Another report, in-depth research on the current situation of the Gems and Jewelry industry, offers a strategic assessment of the market.
The industry report focuses on the growth opportunities, which will help the Gems and Jewelry industry to expand operations in the existing markets globally.
Gems and Jewelry refer to earrings, bracelets, necklaces, crafts, and others with a certain value, made with natural jade jewellery (minerals, rocks, biological, etc.), artificial gems, and precious metals such as gold, silver, platinum.
The report noted that the Gems and Jewelry industry concentration is very low, there are more than 50 hundred manufacturers in the world and high-end products mainly from the US and Western Europe.
The US has a long history and unshakable status in this industry. With regards, Switzerland and France are also leaders in the industry. China (and Hong Kong) also possesses the major manufacturers.
Another report noted that the size of the Gems and Jewelry Market is expected to grow by US$103.06 billion during 2019-2023.
Innovation in terms of design and manufacturing technology is one of the primary factors that will trigger the growth of the global gems and jewellery market in the upcoming years. The demand for personalized jewellery is growing among customers, as it allows them to select their desired designs and further customize their jewellery by adding gemstones and other precious stones.
Vendors are using advanced technology such as laser technology and induction technology to fulfil these requirements. Similarly, various designers are also using innovative 3D printers that use the Rapid Prototyping (RP) technology to review the design concepts, which help them in understanding the requirements and complexity in the manufacturing of any jewellery designs.
The adoption of advanced technologies will drive the growth of the global gems and jewellery market at a CAGR of almost 7% during the forecast period.
Furthermore, various e-commerce players across the world are focusing on developing a platform based on augmented reality technology. This platform will not only help the customers to virtually try the jewellery but also help them decide the perfect product match according to their need and look. Consequently, such developments will drive the demand for jewellery through the online distribution channel, and consecutively, stimulate the growth of the global gems and jewellery market.
Thus, the aforementioned company and its technology are signifiers of the start of the new growth phase in the industry and the importance of and need for technological innovation in the field.