Dubai Takes the Spotlight as Global Hub for Lab Grown Diamonds

Dubai Jewellery News: Dubai prepares to host the world’s top minds in lab-grown diamond innovation

Dubai is once again positioning itself as the epicenter of the rapidly growing lab-grown diamond (LGD) industry. The city will welcome global leaders, innovators, and visionaries to the second Lab-Grown Diamond Symposium at DMCC’s iconic Almas Tower in coming weeks. The event, themed Mass to Meaning: Creativity, Technology and Transformation, aims to chart the course for an industry projected to reach a staggering value between Dh220 billion and Dh367 billion by the early 2030s.

Dubai cements its position as a global leader in lab-grown diamonds, uniting creativity, technology, and sustainability under one sparkling skyline.
Image Credit: Lauren B Jewelry

According to Ahmed bin Sulayem, executive chairman and CEO of Dubai Multi Commodities Centre (DMCC), this year’s symposium will underscore how LGDs are expanding beyond traditional jewelry into multiple high-tech fields. “We have seen firsthand how lab-grown diamonds are reshaping the jewelry landscape, moving into lifestyle and fashion, and opening doors in advanced technology — from semiconductors to quantum applications and even diamond heat spreaders for lasers and data centers,” he said. This Dubai Jewellery News report highlights how Dubai continues to cement its status as a world leader in gemstone innovation and trade. Bin Sulayem emphasized that the symposium’s focus on creativity, sustainability, and transformation will play a defining role in shaping the future direction of the global jewelry sector.

The meteoric rise of lab-grown diamonds

Over the past decade, lab-grown diamonds have transformed from a niche product to a mainstream luxury choice. In 2015, they represented just one per cent of global diamond sales; today, that number has surged to nearly 20 per cent. In the United States alone, a recent survey of 17,000 couples found that 52 per cent of engagement rings now feature lab-grown stones, up from 40 per cent in 2019.

Engagement rings featuring lab-grown diamonds are becoming a new wave in Northern America and Europe
Image Credit: Cullen Jewellery

In financial terms, global LGD jewelry sales reached almost Dh33 billion in 2024 and are expected to continue their steep climb. Analysts predict the market will expand from Dh95 billion in 2025 to Dh272 billion by 2032, growing at an impressive annual rate of more than 14 per cent.

Dubai’s growing dominance in the LGD trade

As one of the world’s premier diamond hubs, Dubai has rapidly embraced the LGD revolution. Retailers across the emirate report surging demand, especially among younger consumers drawn to affordability, modern aesthetics, and sustainable sourcing. Lab-grown diamonds cost between 70 and 90 per cent less than mined stones, bringing luxury within reach of more buyers. For instance, a one-carat LGD sells for about Dh3,100, compared to Dh14,300–Dh18,400 for its natural counterpart, while larger stones display even wider price differences.

A sustainable and profitable future

Industry experts believe Dubai’s well-established gold and diamond markets, coupled with its tax advantages and reputation for sustainability, make it a natural hub for the global LGD trade. The city’s commitment to responsible luxury and innovation ensures that it will remain a major player as the industry transitions into a new era of technology-driven elegance.

As demand for ethical, affordable, and beautiful alternatives grows, Dubai is poised to lead the global dialogue and development in this dynamic sector, reinforcing its place as a pioneer in the diamond world.

For the latest Dubai Jewellery News, keep on logging to Gems News.