DMCC forecasts $100 billion lab-grown diamond market by 2032

Dubai: The global lab-grown diamond (LGD) market could be worth between $60 billion and $100 billion by 2032, according to forecasts presented at the second Lab-Grown Diamond Symposium hosted by DMCC in Dubai.

The event, held under the theme “From Mass to Meaning: Creativity, Technology and Transformation in Lab-Grown Diamonds”, brought together more than 150 international stakeholders from the diamond, technology and innovation sectors.

Prospects beyond jewellery

Industry experts highlighted how LGDs are expanding into semiconductors, photonics, quantum computing, and other high-technology fields, thanks to their thermal conductivity, optical clarity, and durability. These properties, combined with cost efficiency, are making them attractive for advanced industrial use.

The symposium also explored the creative potential of LGDs in fashion and lifestyle products. Designers are incorporating them into items such as sunglasses, shoes, wearable technology, and interiors, offering customisable options not always possible with natural diamonds.

Dubai’s dual status as a global diamond trade centre and a hub for tech-driven innovation positions the emirate as a key player in unlocking growth across luxury, industrial, and high-tech applications for LGDs.

Quantum computing, semiconductors

Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, said:
“Lab-grown diamonds are powering global innovation – from quantum computing and semiconductors to jewellery and fashion.

"With the market set to reach $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.”

DMCC is already home to over 30 lab-grown diamond companies, operating within its wider community of more than 1,350 precious stones firms. By hosting the symposium, DMCC aims to reinforce Dubai’s role as a global hub for both natural and lab-grown diamond trade, while supporting the UAE’s wider goals in technology, innovation, and precious stones industries.