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Global Onyx Stone Market is expected to be Grow at a Healthy Pace During 2021-2026, Aided by the Growing Gemstone Market

According to a new report by EMR titled, ‘Global Onyx Stone Market Report and Forecast 2021-2026’, the global market to be aided by the growing gemstone market, which is expected to grow at a CAGR of 5% in the forecast period of 2021-2026.

The global market of onyx stone is being significantly aided by the rising importance of artificial jewellery amongst the consumers across the world. Due to the lower cost and an appealing factor, the onyx stone is further preferred by the consumers. Furthermore, the resale value of onyx stone is also high and does not change with consumer sentiments. The upwards surging construction industry is also aiding the gemstone market due to possible opportunities for interior designing. However, the increasing cases of coronavirus pandemic did hinder the market in the year 2020, but with vaccines expected to hit the market within the year, the market growth is expected to grow further.

Companies like AVG Stone (US NASDAQ: STNE) have also facilitated in maintaining the demand across the globe for products made with onyx stone. On the basis of geography, North America is one of the major regions driving the market demand, specifically from the demand generated from regions like the United States, owing to the higher disposable incomes of the consumers in the region. Also, the Asia Pacific and European regions are expected to drive the demand further due to the increasing urbanisation and growing demand from application sectors.

Market Breakup by Colour, Structure, Application and Region:

  • In terms of colour, the market is divided into black, red, white, and others.
  • By structure, the market is segmented into calcite, quartz, aragonite, and others.
  • The market is bifurcated on the basis of application as interior decoration, stone sculpture/souvenirs, artificial jewellery, and others.
  • Region-wise, the global market for onyx stone can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is significantly being aided by the growing gemstone market across the world.
  • The rapidly increasing prices of gold and other gemstones are further fuelling the demand for artificial gemstones.
  • The growing construction industry is propelling the demand for interior decoration, which is further aiding the market of onyx stone.
  • The increasing trend towards decorating office spaces and hotels is also facilitating the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for onyx stone for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the colour, structure, applications, and regional markets of onyx stone.
  • The report also gives the regional price trends of onyx stone for the (2016-2020) and (2021-2026) periods.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global onyx stone market include UK Natural Stone Group, Xiamen Yeyang Stone Group, AVG Stone, and Michigan Stones Pvt. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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