The difference between mined and lab-grown diamonds is indistinguishable to the naked eye, only a trained gemologist using specialized equipment can spot the difference. The price difference between mined and lab-grown diamonds is in the range of 30-70%, with lab-grown diamonds being cheaper and free from impurities.
It is a common misconception that lab grown diamonds are of inferior quality, but with advanced technology, they are made of even better quality than mined diamonds. There is also the misplaced notion that diamonds are expensive due to polishing and other processes. But as lab grown diamonds are made from scratch, it is relatively cheaper. Due to the price difference as well as the superior quality, lab-diamonds are being increasingly preferred over mined diamonds.
The difference between mined diamonds and synthetic diamonds are poorly defined, and their use depends upon market conditions, where slowing demand for industrial diamonds is substituted for gemstones and vice versa.90% of industrial grade diamonds are currently produced in China. The hardness of industrial diamonds is primarily used for cutting machinery and the like.