The report by Persistence Market Research provides an in-depth analysis of the global industrial garnet market for the forecast period 2017-2024. The main objective of the report is to provide key insights on latest developments in the global market for industrial garnet. The report also includes updates key trends, driving factors, challenges, volume and value forecasts, and growth opportunities. These insights can help manufacturers to operate in the global industrial garnet market. Various properties of garnet including its hardness and resistance has made it commercially viable. This offer better performance than other minerals, hence, garnet is finding large application as a filtration raw material. This is one of the factors driving the growth of the global market for industrial garnet.
To get a clear picture on demand and supply in the market and to identify opportunities for growth in the global industrial garnet market, the market is divided into segments including application, product type, and region. The report also offers data on the global and regional market in terms of the value which is given in (US$ Mn). The report provides information on all the major factors driving the market and challenges faced by manufacturers. Key market trends across key segments and regions are also given in the report to accelerate the decision-making process by companies. The key segments in the global industrial garnet market are also further divided into sub-segments and forecast on all the segments is offered for the period 2017-2024.
The report also divided the market based on region and the analysis is provided on all the major regions including, Europe, Asia Pacific, Latin Americas, North America, and the Middle East and Africa (MEA). The forecast has been included in the report for all the regions. This report also focuses on how each and every region is contributing towards the growth of the global market for industrial garnet and all the key factors resulting in the growth of the market.
The global industrial garnet market report offers in-depth analysis of market share and market size of the global market for industrial garnet and outlook by setting the forecast within the context of the ecosystem, including advancement in technologies and product offerings. One of the section in the report also discusses all the factors shaping competition in the market and how companies are staying competitive in the market. Challenges faced by start-ups in this particular industry have also been discussed and also how it will impact the overall market in the future.
The report offers a detailed profile of the global market for industrial garnet based on the primary and secondary research. This helps in understanding the overall market size, key players, top products, and latest developments. Analysis of market revenue share and performance is provided for the manufacturers in the global industrial garnet markets. The report also analyzes the market on the basis of major parameters including year-on-year growth and CAGR to define the market growth and identify the opportunities for all the companies in the market.
The report also provides details based on the incremental opportunity. This is considered as a vital factor to assess the level of opportunity and to identify resources from a sales point of view. This report provides information on all the key manufacturers in the global industrial garnet market and the long-term and short-term strategies by the companies to compete in the global market for industrial garnet.
Resources of garnet are large across the world and occur in a wide variety of rocks, especially schists and gneisses. Moreover, alluvial garnet is present in gravel deposits and in heavy mineral sand throughout the world. With the increasing demand for use in various industries, the garnet market has become very competitive. Hence, in order to compete and increase profit in the global industrial garnet market, the companies are focusing majorly on the production of high-grade of garnet ores and also other mineral products that occur with garnet including marble, mica minerals, kyanite and other such minerals.
Imports of garnet are also increasing from India and China, and both the countries account for the major share in the U.S. market. Silica is also being replaced by garnet, especially in the blast cleaning market. Meanwhile, the largest consumption of garnet can be seen in the U.S. petroleum industry. Industrial garnet is also witnessing increased demand from aluminum aircraft and shipbuilding industries for finishing metal surface and for blast cleaning. With increasing number of water treatment plants across the globe, the demand for garnet used in water filtration industry is also growing. With technological advancements, many big and small players are focusing on offering garnet for a specific application with better quality and reliability.
The Persistence Market Research projects the global market for industrial garnet to witness steady growth throughout the forecast period. By the end of 2024, the global industrial garnet market is estimated to reach US$ 721.8 Million revenue.
Almandine to Emerge as the Largest Product in the Global Industrial Garnet Market
Compared to the various products in the industrial garnet market, almandine also known as iron-aluminum silicate is expected to gain the highest growth in the global market for industrial garnet. It is the most popular gemstone and widely used in the gem trade. Increasing number of gemstones are faceted from almandine as compared to the other type of garnets. As per some belief, Almandine is also considered as a healing crystal, hence the demand for jewelry including ring, and pendant consisting of almandine garnet is also increasing.
Almandine is being used in water jet cutting as it is one of the hardest species of garnet. Companies are mining and processing almandine for meeting increasing demand for water filtration and blasting media. The most common almandine garnet found is brownish-red in color. Manufacturers are also adopting new technologies for almandine garnet to be mined, milled, and processed to meet the demand for the specific final product. Water jet cutting is also being used on a large scale in aerospace, stone cutting, defense, metalworking, and glass cutting, thereby driving the demand for almandine garnet. Hence, companies are ensuring to provide purest almandine garnet with the perfect size to offer expected results.
China and India likely to Become Major Source for Garnet in the Coming Years
Lower quality industrial garnet is also used as filtration in water purification system owing to its chemical degradation resistance. The U.S. has some of the major producers dominating the global industrial garnet market. However, the garnet output has also increased in China and India, hence, the countries are expected to become a major source for garnet for other countries.