Editor’s Note
This article highlights the rapid growth of the lab-grown diamond market and Dubai’s pivotal role as a trade and innovation hub. The recent DMCC symposium underscores the industry’s shift from mass production to a focus on creativity, technology, and meaningful transformation.
The global lab-grown diamond market is set to grow to $60-100 billion by 2032, and Dubai is standing as one of the world’s leading diamond trade hubs and a destination for pragmatic innovation.
DMCC revealed its latest market projections at the second edition of the Lab-Grown Diamond (LGD) Symposium. The event, hosted under the theme “From Mass to Meaning: Creativity, Technology and Transformation in Lab-Grown Diamonds”, brought over 150 global leaders together to explore how lab-grown diamonds are moving beyond jewellery to power next-generation technologies and open new creative frontiers in fashion and consumer products.
DMCC noted that Dubai stands as a key enabler of unlocking growth tracks in the lab-grown diamond industry, which is being driven by three clear forces: expansion in jewellery and lifestyle markets, continued industrial demand and the rapid emergence of high-technology applications.
During the event, experts examined the role of lab-grown diamonds as a high-performance material for advanced technology. Their superior thermal conductivity, optical clarity and electronic resilience, combined with a more cost-efficient price point, make them ideally suited for applications in semiconductors, photonics and quantum systems.
In parallel, the symposium examined the growing use of lab-grown diamonds in creative industries. Beyond jewellery, designers and brands are now experimenting with the integration of lab-grown diamonds into fashion items such as sunglasses, shoes and wearable technologies, as well as interiors and lifestyle products. This is being driven by lab-grown diamonds’ accessibility, versatility and the opportunity for more customizable designs that are not always feasible with natural diamonds.
The program also featured sessions that examined topics including branding, digital storytelling, traceability and the shifting expectations of Gen Z and Gen Alpha consumers.
Through its international business district, DMCC has played a central role in positioning the emirate as a global hub for both natural and lab-grown diamond trade. Today, DMCC is home to over 30 lab-grown diamond companies, operating within a wider ecosystem of more than 1,350 precious stones firms.
The LGD Symposium further reinforces DMCC’s commitment to supporting the growth of high-potential sectors, while advancing the UAE’s global standing across the technology, innovation and precious stones industries.
