DMCC FORECASTS USD 100 BILLION LAB-GROWN DIAMOND MARKET GROWTH AT SECOND LGD SYMPOSIUM IN DUBAI

Global lab-grown diamond market forecast to reach between USD 60 and 100 billion by 2032, with new opportunities in semiconductors, optics, quantum computing, fashion and lifestyle products

Second edition of the Lab-Grown Diamond Symposium highlights Dubai’s role in unlocking these opportunities given status as leading precious stones hub and a global focal point for tech innovation

Event hosted by DMCC brought together over 150 global stakeholders across the LGD, technology and innovation sectors

DMCC, the world’s leading international business district that drives the flow of global trade through Dubai, has concluded the second edition of the Lab-Grown Diamond (LGD) Symposium, highlighting global LGD market growth valued at between USD 60 and 100 billion for the industry by 2032. 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 LGDs are moving beyond jewellery to power next-generation technologies and open new creative frontiers in fashion and consumer products.

With Dubai standing as one of the world’s leading diamond trade hubs and a destination for pragmatic innovation, the emirate stands as a key enabler of unlocking growth tracks in the LGD 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

Experts examined the role of LGDs 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 LGDs in creative industries. Beyond jewellery, designers and brands are now experimenting with the integration of LGDs into fashion items such as sunglasses, shoes, and wearable technologies, as well as interiors and lifestyle products. This is being driven by LGDs’ accessibility, versatility and the opportunity for more customisable designs that are not always feasible with natural diamonds.

Ahmed Bin Sulayem,
Executive Chairman and CEO - DMCC

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, said: “Lab-grown diamonds are powering global innovation – from quantum computing and semiconductors to jewellery design, aerospace and construction. With the market set to reach USD 60–100 billion by the early 2030s, this is among the most dynamic sectors worldwide. Dubai is uniquely placed to connect its luxury, industrial and high-tech dimensions, and DMCC is the platform where that convergence happens. Building on our inaugural event, this second Lab-Grown Diamond Symposium again brings the world’s leading experts to Dubai, cementing its status as the hub for critical dialogue and the next phase of LGD growth.”

The programme also featured sessions that examined topics including branding, digital storytelling, traceability, and the shifting expectations of Gen Z and Gen Alpha consumers.

Speakers at the Symposium included Andrew Dunn (Quantum Brilliance), William Holber (Plasmability), Prof. Ramachandra Rao (IIT Madras), Peter Widmann (Swarovski), and representatives from Diamond Foundry, HRD Antwerp, OriginAll, and others. The programme also featured a keynote by independent analyst Paul Zimnisky.

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.