A synthetic diamond is a diamond produced through chemical and physical processes in laboratory conditions (mostly from a seed of a naturally occuring diamond). Like a diamond produced by nature, it is composed of carbon with identical crystallographic structure and physical properties. There is still some debate within the diamond industry regarding the correct terminology for such stones - at the moment they are known either as: Synthetic diamond or Man-made diamond.
Synthetic diamonds are a 20th century phenomenon. Because of its unique properties, diamond is a very valuable substance, not only in its application as a gemstone, but also in many other areas such as grinding, cutting and drilling.
Currently around 560 million carats are produced synthetically on a yearly basis. The bulk of this is of industrial grade and powders, but diamonds are also increasingly wanted as a high-tech material. Diamonds are used nowadays as radiation and short wave UV detectors, X-ray monochromators, heat sinks and other applications. The diamonds used in a number of these types of functions must be of an extraordinary quality, rarely found in nature. This has led scientists worldwide to develop methods to produce very high-quality synthetic diamonds.