Dubai To Host Global Lab-Grown Diamond Leaders As Demand Rises

Dubai is preparing to host the world's leading voices in lab-grown diamonds (LGDs) as the second Lab-Grown Diamond Symposium returns to DMCC's Almas Tower on Tuesday (September 30).

Framed around the theme Mass to Meaning: Creativity, Technology and Transformation, the symposium will convene global players from jewellery, fashion, technology, and finance to debate the future of an industry forecast to exceed Dh220–Dh367 billion by the early 2030s.

Ahmed bin Sulayem, executive chairman and CEO of Dubai Multi Commodities Centre (DMCC), said the symposium would showcase how LGDs are pushing into new sectors beyond jewellery.“We have seen first-hand how lab-grown diamonds are reshaping jewellery, expanding into lifestyle and fashion, and opening new frontiers in advanced technology - from semiconductors and quantum applications to diamond heat spreaders for lasers, data centres and high-power electronics,” he noted.

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He added that this year's theme will highlight the creativity, sustainability and innovation driving the next wave of growth.“Dubai is the place for these conversations, and I look forward to welcoming the sector's most influential leaders as we set the course for the next chapter,” Bin Sulayem said.

Lab-grown diamonds have surged from just one per cent of global diamond sales in 2015 to nearly 20 per cent today. In the US, the world's largest market, a 2025 survey of 17,000 couples showed that 52 per cent of engagement rings featured LGDs, up from 40 per cent in 2019.

Global LGD jewellery sales reached nearly Dh33 billion in 2024, with forecasts pointing to continued momentum. Market value is expected to rise from Dh95 billion this year to Dh272 billion by 2032, growing at more than 14 per cent annually.

As one of the world's leading diamond hubs, Dubai has been quick to integrate LGDs into its jewellery ecosystem. Retailers in the emirate say demand is growing rapidly, particularly among younger buyers who are drawn to the stones' lower prices and ethical sourcing.

Lab-grown diamonds are typically 70–90 per cent cheaper than mined equivalents, putting bigger, higher-quality stones within reach of more customers. A one-carat LGD now sells in Dubai for around Dh3,100, compared to Dh14,300–Dh18,400 for a natural equivalent. The price gap widens with size: a two-carat LGD averages Dh6,400 versus Dh110,000 for natural, while a three-carat stone is roughly Dh14,700 compared with Dh184,000–220,000 for mined.

Industry experts say Dubai's thriving gold and diamond districts, its tax advantages, and its growing reputation for sustainable luxury give it a unique edge in the LGD trade.

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