Published By : 08 Mar 2016 | Published By : QYRESEARCH
In current times, the demand for moissanite is on a steady rise. Reasons such as resemblance of moissanite with diamond, increasing demand among consumers for luxury jewelry products, and increasing awareness among consumers about the product are the reasons for the same. These factors are surging growth of the moissanite market globally. But, the demand for moissanite is impeded due to several reasons.
First and foremost, the emergence of new technologies has facilitated the creation of gemstones that are of a higher grade than moissanite. Moissanites are silicon carbide compounds that are created in an artificial laboratory environment. Presently, Charles & Colvard Ltd. is the only company in the world that has an exclusive patent on the thermal process for the manufacture of moissanite gemstones. Cree Inc. and Norsel AB are some companies that are involved in the supply of raw material for moissanite.
Moissanite exhibits remarkable radiance and resilience properties similar to diamond at about one-tenth of the price of diamond. These exhibit a refractive index of 2.65 and its hardness on the Mohs scale is 9.5, because of which the product is scratch resistant. The two stones are so close to each other that only a trained eye can spot the difference between the two. Another attribute of moissanite lies in its durability and it does not impart a yellowish color that many diamond substitutes impart after a period of time.
Rings are the largest application segment of the moissanite market. Moissanite rings are significantly popular among consumers, either for self-use or for gift purposes. Earrings are also an important application segment of the moissanite market. This is because increasing purchase of big-sized earrings that are decorated with moissanite stones are reasons for the same.
North America is the largest market for moissanite. This is because consumers are spending large sums on beauty merchandise, which is easy on the pocket and proffers luxury as well. Europe is the second-largest market for moissanite. In this region, shifting preference of consumers towards moissanite in place of other diamond substitutes such as cubic zirconia are the reasons for this.
In a recent industry development, Charles & Colvard Ltd. has announced the launch of its Forever 14 Moissanite 14-karat gold jewelry line. This is in collaboration with digital jewelry retailer EVINE Live.