What is Onyx Stone Market Scope?
The growing importance of artificial jewellery is one of the main factors driving the growth of the onyx stone industry in the forecasted period. 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.
The Onyx Stone market study is being classified and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Onyx Stone market throughout the predicted period.
The Marble Factory (Canada), Ashland, inc. (United States), Xiamen Optimum Stone Co. (India), Project Stone Australia (Australia), Kalinga Stone (India), Custom Marble, Inc. (United States), Jiya Crystal and Craft (United States), Onyx Marble & Granite LLC (United States), Mont Surfaces (United States) and Eskandari Stone (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Marcolini Marmo SpA (Italy), UK Natural Stone Group (United Kingdom) and Marmi Vrech (Italy).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Onyx Stone market by Type, Application and Region.
On the basis of geography, the market of Onyx Stone has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Market Trend
- The incresing prices of gold and other gemstones such as diamonds are kindling consumer interest in artificially produced jewelry.
Market Drivers
- The increasing importance being given to artificial jewelry
Opportunities
- The increased spending on the interior refurbishment of residential properties has also spilled over to commercial properties such as offices and hotels
Restraints
- The counterfeit/artificially produced onyx stone based products
Challenges
- The availability of cheaper and easily available substitutes such as marble with the same aesthetics
Key Target Audience
Onyx Stone Manufacturer, Suppliers, Distributors, Government Regulatory Bodies, Government Research Organization, Private Research Organization and Others
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