Dubai is set to gather the top experts in lab-grown diamonds (LGDs) as the second Lab-Grown Diamond Symposium returns to DMCC’s Almas Tower on Tuesday, September 30.
With the theme Mass to Meaning: Creativity, Technology and Transformation, the symposium will bring together global leaders from jewellery, fashion, technology, and finance to discuss the industry’s future, which is projected to reach Dh220–Dh367 billion by the early 2030s.
Ahmed bin Sulayem, executive chairman and CEO of Dubai Multi Commodities Centre (DMCC), mentioned that the symposium will highlight how LGDs are expanding beyond jewellery. “Lab-grown diamonds are transforming jewellery, moving into lifestyle and fashion, and pioneering new areas in advanced technology, like semiconductors and quantum applications,” he stated.
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He also noted that this year’s theme will emphasize the creativity, sustainability, and innovation fueling the next growth wave. “Dubai is the ideal location for these discussions, and I look forward to hosting the industry’s key leaders as we chart the future,” Bin Sulayem added.
Lab-grown diamonds have grown from one per cent of global diamond sales in 2015 to nearly 20 per cent now. In the US, the largest market globally, a 2025 survey of 17,000 couples indicated 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 expectations of continued growth. Market value is anticipated to rise from Dh95 billion this year to Dh272 billion by 2032, expanding over 14 per cent annually.
Dubai, one of the world’s premier diamond hubs, has swiftly incorporated LGDs into its jewellery market. Retailers note a rapid increase in demand, especially among younger consumers attracted by the stones’ affordability and ethical sourcing.
Lab-grown diamonds typically cost 70–90 per cent less than mined ones, making larger and higher-quality stones accessible to more buyers. A one-carat LGD in Dubai is priced at around Dh3,100, whereas a natural equivalent ranges from Dh14,300–Dh18,400. The price difference increases with size: a two-carat LGD averages Dh6,400 compared to Dh110,000 for natural, while a three-carat stone costs about Dh14,700 against Dh184,000–220,000 for mined.
Industry experts highlight Dubai’s dynamic gold and diamond districts, tax benefits, and growing renown for sustainable luxury as factors giving it a competitive advantage in the LGD market.
