by The global Industrial Garnet Market is estimated to be valued at US$ 690.56 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Industrial garnet refers to coarse-grained garnet that is suitable for use in industrial applications such as water filtration, abrasive blasting, water jet cutting and abrasive powder. It is most commonly used as an abrasive agent due to its hardness and crystalline structure which enables it to abrade, flow and resist breakage under high impact.
Market key trends:
One of the key trends in the industrial garnet market is its usage in water jet cutting technology. Water jet cutting is an advanced manufacturing process which utilizes a very high-pressure water stream to cut through materials. Industrial garnet is added to the water stream to provide the necessary abrasiveness for efficient cutting. It does not cause excessive heat buildup and leaves a clean, smooth cut edge with little distortion. The growing water jet cutting industry is thus expected to boost the demand for industrial garnet over the forecast period.
Market key trends:
One of the key trends in the industrial garnet market is the growing application of garnet abrasives in water jet cutting technology. Water jet cutting is gaining popularity over traditional cutting methods due to its ability to cut through almost any material without generating heat. Garnet abrasives are well-suited for water jet cutting as they are harder than the material being cut and can withstand high water pressures. This has boosted the consumption of garnet abrasives.
SWOT Analysis
Strength: Garnet has unique physical properties such as hardness, density and chemical stability that make it suitable for a wide range of industrial applications.
Weakness: Fluctuations in raw material prices can squeeze margins for garnet miners and processors.
Opportunity: Growing demand from industries such as water jet cutting, abrasive blasting, water filtration, and ceramic tile production is expected to drive market revenue during the forecast period.
Threats: Presence of alternative raw materials such as corundum/ruby and quartz threatens the dominance of garnet in some applications.
Key Takeaways
The global industrial garnet market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing use of garnet in water jet cutting applications. The water jet cutting market has been growing at a rapid pace due to its versatility and advantage over traditional cutting methods. This is expected to drive the consumption of garnet abrasives.
The Asia Pacific region dominated the global industrial garnet market in 2023, accounting for around 35% of the global share. Countries such as India and Vietnam are among the major producers and exporters of industrial garnet. Australia is also an important producer, accounting for over 60% of the global production of garnet abrasives.
Key players operating in the industrial garnet market are GMA Garnet Group, Indian Ocean Garnet Sands Company Ltd., Trimex Sands Private Limited, Barton International, Zircon Mineral Co., Mohawk Garnet Inc., Opta Minerals Inc., V.V. Mineral Pvt. Ltd., Beach Minerals Company, and Rizhao Garnet Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
