The global lab-grown diamond (LGD) market is forecast to grow to between USD 60 billion and USD 100 billion by 2032, according to insights shared at the second Lab-Grown Diamond Symposium hosted by the Dubai Multi Commodities Centre (DMCC).
The event, themed “From Mass to Meaning: Creativity, Technology and Transformation in Lab-Grown Diamonds,” convened more than 150 global stakeholders to explore how LGDs are expanding beyond jewellery into semiconductors, optics, quantum computing, fashion, and lifestyle products.
Dubai, already a leading hub for diamond trade and technology-driven innovation, was highlighted as a key enabler in unlocking new growth opportunities. Experts emphasised the suitability of LGDs as a high-performance material, citing their thermal conductivity, optical clarity, and resilience, which make them ideal for advanced technology applications.
Ahmed Bin Sulayem, Executive Chairman and CEO 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.”
The programme also examined consumer trends, branding, digital storytelling, traceability, and the growing influence of Gen Z and Gen Alpha buyers. Notable speakers included Andrew Dunn of Quantum Brilliance, William Holber of Plasmability, Professor Ramachandra Rao of IIT Madras, and Peter Widmann of Swarovski, along with representatives from Diamond Foundry, HRD Antwerp, and OriginAll. Independent analyst Paul Zimnisky (seated, centre below) delivered the keynote address.
DMCC has positioned Dubai as a leading hub for both natural and lab-grown diamond trade, with over 30 LGD companies operating within its district, alongside more than 1,350 precious stones firms. The symposium reinforced DMCC’s role in driving growth across high-potential sectors while strengthening the UAE’s standing in technology, innovation, and precious stones industries.