Global Onyx Stone Market Growth Analysis - Forecast Trends and Outlook (2024-2032)

Global Onyx Stone Market Outlook

The global onyx stone market is likely to be driven by the growing gemstone market, which will grow at a CAGR of 5% in the forecast period of 2024-2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The Asia Pacific Leading the Onyx Stone Industry

In the forecast era, Asia Pacific is expected to lead the global market by consumption, with China and India expected to lead the market for onyx stone. This can be due to the widespread use and rising trend in the region to forsake old artificial jewellery at an economical price. The growth of the market in the region can also be attributed to the booming construction industry in Asian countries. North America and Europe are also expected to make a significant contribution to the onyx stone industry due to the growth of the tourism industry and the growing demand for tourist occupation facilities, including hotels and serviced apartments.

Onyx Stone: Market Segmentation

An onyx stone is a silica mineral of a parallel banded type. Agate stone and onyx stone both have banded shapes, with the main difference being that although agate has curved bands, there are parallel bands in onyx stone. In each stone, the colours kept by these bands differ and can range from white to almost any other colour. Onyx stone usually includes black or white bands of colour.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Based on colour, the market can be divided into the following:

• Black
• Red
• White
• Others

Based on the structure, the industry can be categorised as follows:

• Calcite
• Quartz
• Aragonite
• Others

It finds wide applications in the following sectors:

• Interior Decoration
• Stone Sculpture/Souvenirs
• Artificial Jewellery
• Others

The regional markets for onyx stone can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Jewellery Industry Bolstering the Market Growth

The growing importance of artificial jewellery is one of the main factors driving the growth of the onyx stone industry. The growing prices of gold and other gemstones, including diamonds, are fuelling market interest in artificially manufactured jewellery. Apart from the lower cost, these jewels also have an aesthetic appeal. Furthermore, the resale value of onyx stone jewellery is also high and does not change with consumer sentiments. The booming construction industry, which is one of the main drivers of the interior decoration market, is also propelling the growth of the onyx stone industry. Traditionally, increased expenditure on interior renovation of residential properties has also spilled over to commercial properties, including offices and hotels, which are also expected to contribute to the growth of the onyx stone industry.

Key Industry Players in the Global Onyx Stone Market

The report gives a detailed analysis of the following key players in the global onyx stone market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• UK Natural Stone Group
• Xiamen Yeyang Stone Group
• Aravali Group
• Michigan Stones Pvt Ltd
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Onyx Stone Market Report Snapshots

Onyx Stone Market Size

Onyx Stone Market Growth

Onyx Stone Companies