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NAICS Code 423940-30 Description (8-Digit)

Turquoise (Wholesale) is a subdivision of the Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers industry. This industry involves the wholesale distribution of turquoise gemstones, which are known for their blue-green color and unique patterns. Turquoise is a popular gemstone used in jewelry making and is often used in Native American jewelry. The industry includes wholesalers who source turquoise from mines and sell it to manufacturers, retailers, and other wholesalers.

Hierarchy Navigation for NAICS Code 423940-30

Tools

Tools commonly used in the Turquoise (Wholesale) industry for day-to-day tasks and operations.

  • Turquoise grading kit
  • Digital caliper
  • Gemstone tweezers
  • Diamond saw blade
  • Polishing cloth
  • Ultrasonic cleaner
  • Gemstone display case
  • Gemstone scale
  • Gemstone loupe
  • Gemstone drill

Industry Examples of Turquoise (Wholesale)

Common products and services typical of NAICS Code 423940-30, illustrating the main business activities and contributions to the market.

  • Turquoise beads
  • Turquoise cabochons
  • Turquoise pendants
  • Turquoise earrings
  • Turquoise necklaces
  • Turquoise bracelets
  • Turquoise rings
  • Turquoise inlay
  • Turquoise nuggets
  • Turquoise rough

Certifications, Compliance and Licenses for NAICS Code 423940-30 - Turquoise (Wholesale)

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

  • Gemological Institute Of America (GIA) Certification: GIA is a nonprofit institute that provides education and research in the field of gemology and jewelry arts. Their certification program provides a comprehensive understanding of gemstones, including turquoise, and is highly respected in the industry.
  • Jewelers Of America (JA) Certification: JA is a national trade association for businesses serving the fine jewelry marketplace. Their certification program covers a range of topics, including gemstones and jewelry manufacturing, and is designed to ensure that professionals in the industry have the knowledge and skills necessary to provide high-quality products and services.
  • American Gem Trade Association (AGTA) Certification: AGTA is a trade association for the colored gemstone industry. Their certification program covers a range of topics related to gemstones, including identification, grading, and valuation.
  • International Colored Gemstone Association (ICA) Certification: ICA is a global organization dedicated to promoting the colored gemstone industry. Their certification program covers a range of topics related to gemstones, including identification, grading, and valuation.
  • Responsible Jewellery Council (RJC) Certification: RJC is a nonprofit organization that promotes responsible ethical, social, and environmental practices in the jewelry industry. Their certification program covers a range of topics related to sustainability and responsible business practices.

History

A concise historical narrative of NAICS Code 423940-30 covering global milestones and recent developments within the United States.

  • Turquoise has been used in jewelry and other decorative items for thousands of years. The ancient Egyptians, Persians, and Native Americans all valued turquoise for its beauty and spiritual significance. In the United States, turquoise became popular in the 19th century when it was used in Native American jewelry. The industry grew in the 20th century as more people became interested in Native American art and jewelry. Today, turquoise is still a popular gemstone, and the industry continues to thrive. Recent history of the Turquoise (Wholesale) industry in the United States has been marked by a growing demand for authentic Native American jewelry and art. The industry has also seen an increase in the popularity of turquoise in fashion jewelry. In recent years, there has been a trend towards using turquoise in combination with other gemstones and metals to create unique and modern designs. The rise of e-commerce has also made it easier for wholesalers to reach a wider audience and sell their products online.

Future Outlook for Turquoise (Wholesale)

The anticipated future trajectory of the NAICS 423940-30 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Stable

    The future outlook for the Turquoise (Wholesale) industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for turquoise jewelry and other products. The rise in disposable income and the growing popularity of handmade and artisanal products are some of the factors driving the growth of the industry. Additionally, the increasing use of turquoise in the fashion industry is expected to boost the demand for turquoise products. The industry is also expected to benefit from the growing trend of sustainable and ethical fashion, as turquoise is considered a sustainable and eco-friendly material. However, the industry may face challenges due to the increasing competition from synthetic and imitation turquoise products. Overall, the industry is expected to grow steadily in the coming years.

Industry Innovations for NAICS Code 423940-30

Recent groundbreaking advancements and milestones in the Turquoise (Wholesale) industry, reflecting notable innovations that have reshaped its landscape.

  • Increased Use Of Technology In the Production Process: The use of technology in the production process has increased in recent years, leading to more efficient and cost-effective production of turquoise products.
  • Growing Popularity Of Sustainable and Ethical Fashion: The growing trend of sustainable and ethical fashion has led to an increased demand for eco-friendly and ethically sourced turquoise products.
  • Introduction Of New Designs and Styles: The industry has seen the introduction of new designs and styles of turquoise jewelry and other products, catering to the changing tastes and preferences of consumers.
  • Expansion Of Distribution Channels: The industry has expanded its distribution channels, with more companies selling turquoise products online and through social media platforms.
  • Increasing Demand for Customized Products: The industry has seen an increasing demand for customized turquoise products, with consumers looking for unique and personalized items.

NAICS Code 423940-30 - Turquoise (Wholesale)

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