Dubai: DMCC has released a special edition of its Future of Trade thought leadership report series focused on lab-grown diamonds (LGDs), the rapid global rise of this nascent technology and its transformative impact on the industry.

The report, titled “Coming of Age – The Future of Lab Grown Diamonds,” is a culmination of industry expertise and in-depth analysis. It provides a strategic compass for stakeholders navigating the LGD landscape and examines the dynamics that have driven the meteoric rise of the industry over the past few years.

The LGD industry reached a remarkable global retail sales value of $12.24 billion in 2022, surging as the fastest-growing segment within the jewellery sector and expanding to encompass new domains such as semiconductors and quantum computing.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC said, “The LGD industry is navigating a phase of transition, adapting to slower growth, disruption and market shifts in the United States, while exploring untapped markets like China, Europe, India and the Middle East. With the rise of the LGD industry symbolising the intersection of technology and trade, the potential it holds is monumental.

“As a global trade hub, Dubai offers a strategic location for LGD innovation and trade, envisioning a future where LGDs redefine industries and sustainability norms… We are excited to see Dubai positioned as a pioneering force in this transformative era,” he added.