The diamond production sector is undergoing radical changes, though the reasons for this are not entirely clear. The emergence of synthetic diamonds is completely changing the landscape; however, the cumulative impact of factors such as decreased demand, economic sanctions, and increased ethical consumer awareness is reshaping the future of a product that has historically been one of the most sought-after in the world.
The global diamond market is valued at around $80 billion and is in a state of significant decline, as noted by Tim Treadgold in Forbes: "The diamond industry is losing its luster due to the rise of synthetic diamonds in the market." This shift can be explained by several factors, at the forefront of which is increased awareness.
