Agate market Size, Share, Growth, And Industry Analysis By Type (Gray, Red, Blue, Others), By Application (Decoration, Grind Products), Regional Insights, and Forecast To 2032

Updated On: 08 July 2024

agate market Report Overview

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The global agate market size was USD 9317.73 million in 2021 and is expected to reach USD 13570.47 million by 2027, exhibiting a CAGR of 6.47% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Agate is a semi-precious stone formed from chalcedony, a crystalline form of quartz that comes in various colors and one of its main characteristics is bands. They most typically form in cavities in volcanic rock when water containing silica seeps into those cracks and hardens. The colors of each stone are formed naturally by the interaction of trace elements such as manganese, chromium, nickel, iron and titanium. Polishing is the best technique to bring out the unique colors and patterns inside. Agates are colorful stones with valuable properties that make them popular with collectors and consumers. Agate is a type of microcrystalline quartz, which means it forms as layers of silica gel that forms around volcanic rocks or hot springs. It is found in many colors, including red, pink, brown, black and white, with a striped pattern throughout, known as "mutton fat".

 The growth of the market is due to the increase in the demand of performance products in various applications and regions. Some of the key factors expected to drive the growth of the global agate market are raising disposable incomes, rising awareness of natural stones, and growing demand in emerging markets.

COVID-19 Impact: Pandemic Halted The Ongoing Construction Projects Reduced Market Growth

The global crisis caused by the COVID-19 pandemic has negatively affected the activity market and brought real challenges to its operations. For example, natural stone industrial quarries, processing facilities, logistics and administrative facilities had to stop their operations to contain the pandemic. Restrictions in various countries forced natural stone producers to close completely, causing an economic crisis and layoffs. Companies have been unable to meet demand for ongoing major construction projects such as hospital construction due to transport restrictions and the reluctance of workers to work due to fear of the COVID-19 virus. The import-export of natural stone had a negative impact, which caused a sharp drop in demand in domestic and foreign markets. All these factors negatively affected the size of the natural stone market during the pandemic.

Latest Trends

"Sharp Increase In Construction Activity Around The World Creates Enormous Opportunities "

Agate has a special feature; it is a potential opportunity in the jewelry and decoration industry. Consumers love unique interior design and decorative materials for carvings, decorations and jewelry. Agate is a common choice for beaded jewelry such as bracelets, necklaces, and earrings in addition to cameos. A cameo is a gem that contains an artistically carved bust, figure or person in raised relief. Polished agate tiles are also attractive interior items in the kitchen and bathroom. In addition, its affordability and durability are expected to continue to open new avenues for large enterprises and markets. The construction sector has experienced significant growth in recent years due to rapid urbanization, the development of smart cities and mega projects. Natural stones such as marble, granite and others are widely used in the residential and commercial sectors for infrastructure development and reconstruction and renovation. Because of its appearance and easy maintenance, it is widely used for table tops, wall coverings, floors, vanity tops, tiles and more. Similarly, soapstone, another natural stone, is the softest material for countertops because it is completely resistant to heat and dirt. It has a high resistance to wear and scratches, which is why it is used as a floor covering.

agate market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Gray, Red, Blue, Others.

 Gray is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Decoration, Grind Products.

Decoration will be the dominating segment.

Driving Factors

"Rising Applications In Various Usages To Propel The Market Expansion "

The most important factor in the growth of the agate market is its use for grinding products. Agate is an ideal choice and is used in laboratories and top kitchens around the world to make delicate sauces and pastas and to grind dry spices and herbs because of its ability to control grinding and virtually eliminate dirt from the mortar, rammer stands up. When a metal mortar and pestle is used, it is generally accepted that metal particles penetrate the soil powder, causing either a health risk or contamination when precise scientific measurements are made of the soil powder. In the kitchen, dense agate is much more desirable in terms of cross-contamination and cleanliness (hygiene) than more porous porcelain, which can create bacteria in the pores and cause a health risk. In addition, technological development leading to the development of new equipment and processes and strengthening of mining capacity of various large companies is also a factor affecting market revenue growth during the forecast period.

"Blooming Jewelry Industry To Support The Growth Of The Market "

The growing importance of artificial jewelry is one of the most important factors in the agate market growth. The rise in the price of gold and other precious stones, including diamonds, increases the market's interest in artificial jewelry. In addition to their low cost, these gems also have an aesthetic appeal. In addition, the resale value of performed works is also high, which does not change according to the opinions of consumers. The booming construction industry, which is one of the main drivers of the interior decoration market, is also boosting the growth of the onyx stone industry. The increase in spending on internal renovation of residential premises, traditionally, has also spread to commercial premises, including offices and hotels, which are expected to contribute to the growth of the agate industry as well.

Restraining Factor

"Environmental Issues Associated With The Processing To Hamper The Market Growth"

Environmental issues associated with active geode processing and toxic by-products of the process are some of the key factors that are expected to somewhat hamper the market revenue. These mineral stones have to go through a long process of cutting, crushing, polishing and finishing, during which a considerable amount of waste is generated, which can be harmful to the environment and the mining process, and the product itself is not environmentally friendly, i.e. the mineral are not recyclable, these are some of the other factors that will significantly curb the revenue of the market during the forecast period.

agate market Regional Insights

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"North America to Dominate The Market Growth Due To High Product Demand"

North America dominated the global agate market share in terms of revenue in 2019. During the forecast period, the region is expected to grow significantly due to high product demand stemming from its growing popularity as an ornamental stone and its potential applications for decorative purposes. Furthermore, rising disposable incomes of consumers along with growing awareness of luxury lifestyles are likely to boost regional growth in the coming years. 

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Gemstone (India)
• Yasin And Sohil Agate (India)
• Yanghong Agate (China)
• Tencan Powder (China)
• Xinchangbao Agate (China)
• Jingxing Jade Product (China)
• Tai Yiaeh (Taiwan)
• Kingda Ceramic (China)
• Hongshanyu (China)
• Antolini (Italy)
• Miran Agate (India)
• HL Gemas (Brazil)
• Ravenil SA (Germany)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.