The Onyx Stone Market to throng the growth bar in the next 10 years

An onyx stone is a parallel banded variety of silica mineral. It is worthwhile noting that agate stone and onyx stone also banded forms with the only difference being that while agate possesses curved bands and onyx stone has parallel bands. The colors possessed by these bands vary in each stone and can range from white to almost any other color. Onyx stone normally contain either black or white colored bands. Onyx stone is a general name given to other forms of banded stone such as alabaster, marble, obsidian, and opal. Onyx stones with controlled banding are referred to as Cave Onyx and Mexican Onyx. Onyx stone is formed with bands of chalcedony displaying alternating colors. Onyx stone is cryptocrystalline and consists of intergrowths of silica based minerals such as quartz and moganite. Sardonyx is another type of onyx stone wherein, the band coloration is in shades of red as opposed to black which is more commonly found in onyx stone. The most famous variety of onyx stone is black onyx, but, it is not commonly found in comparison to onyx stone with colored bands. However, artificial treatments are carried out on onyx stones in order to give the black coloration to black onyx and the red and yellow coloration in sardonyx. Banded calcite stones found in countries such as India and Mexico are also referred to as onyx stones. These stones are much softer than original onyx stone and the majority of carved calcite stone sold in the markets is currently referred to as onyx stone. The production of artificial onyx stone is carried out using common chalcedony and plain agates. The varied coloration which is commonly found in onyx stones id produced by soaking or boiling the chalcedony in sugar solutions and subjecting the chalcedony to sulfuric or hydrochloric acid which will s=consequently carbonize the soaked sugar on the surface of the stone. Apart from the aforementioned method of producing onyx stone dyeing methods are also deployed to give the characteristic black band coloration to chalcedony in order to produce artificial onyx stone. In addition, nitric acid is also used in conjunction with the dyeing treatment to get rid of undesirable colors in the artificially created onyx stone.

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Market Dynamics – Onyx Stone Market:
The increasing importance being given to artificial jewelry is one of the key factor which is fueling the growth of the onyx stone market. The rising prices of gold and other gemstones such as diamonds is kindling consumer interest in artificially produced jewelry. Apart from the lower cost these jewelry also possess aesthetic appeal. Further, the resale value of onyx stone based jewelry is also high and does not change with market sentiments. Other factors which are also contributing to the growth of the onyx stone market is the booming construction industry which is one of the key drivers of the interior decoration market. Traditionally, the increased spending on interior refurbishment of residential properties has also spilled over to commercial properties such as offices and hotels which in turn is also expected to help in the growth of the onyx stone market.
However, there are also few challenges, which are adversely impacting the growth of the onyx stone market such as counterfeit/artificially produced onyx stone based products and the availability of cheaper and easily available substitutes such as marble with the same aesthetics provided by onyx stone thus affecting the potential earnings and value creation between the market participants. The cheaper variety of onyx stone is easily produced by using banded calcite which is extensively found in Asia and Latin America.

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Onyx Stone Market: Market Segmentation
The global onyx stone market can be segmented on the basis of color, structure, and application.
On the basis of color, the global onyx stone market is segmented into:
• Black
• White
• Red
• Others
On the basis of structure, the global onyx stone market is segmented into:
• Calcite
• Quartz
• Aragonite
• Others
On the basis of application, the market is segmented into,
• Artificial Jewelry
• Interior Decoration
• Stone Sculpture/Souvenirs
• Others (Kitchen Tops, Stone Furniture, etc.)

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