The global garnet market size was accounted for $xx Million in 2017 and is projected to increase by $xx Million with a significant CAGR of xx% during the forecast period. Garnets are an important form of minerals that are used for making gemstones. Garnets are widely used in all types of jewelry. Garnets have wide applications in industry and garnet sand is used as a substitute for silica sand in sandblasting. Garnet sands are mixed with high-pressure water and used for cutting stainless steel, rubber, non-ferrous metals, glass and many more for water jets. Hardness and toughness of garnet are used for improving the efficacy of garnet in blasting and for decreasing the break down percentage which helps in increasing the global garnet sand market.
Significant investment in defense sector for the growth of industries, strict rules for not using hazardous minerals like slag and silica, rise in the initiatives of government in mining sector and properties of garnet associated with other minerals are some of the factors that are anticipated to upsurge the growth of global industrial garnet market in the coming years.
Main trends that govern the industrial garnet market globally are increasing in demand for the garnet in oil refinery plant & petrochemical, concentrating on recycling the garnet, rise in demand for garnet in the repair work of ships and increase in demand for use of garnet in the production of parts of automobiles. The huge opportunity offered in the industrial garnet industry are that it can be used as proppant in many industries like petroleum because of its functions on improving performance and reducing the environmental impact and chemical leaching.
The main driving factors for the global garnet market is the demand for jewelry and gemstone. The value for garnet is increasing in industry applications as garnet is non-toxic, inert and eco-friendly. A number of synthetic and natural materials can be used instead of garnet for the coarse purposes, like diamond, corundum, staurolite, and others. Rise in inflation, labor cost and use of replacements can also hinder the growth of the global garnet market.
The garnet market is divided on the basis of type, application, and region. Based on the type, the garnet industry is divided into andradite, pyrope, almandine, uvarovite, grossular, and spessartine. Almandine is projected to take over the global garnet industry in the coming years due to applications in manufacturing sector and infrastructure. Global garnet gemstone market is propelled to experience a significant growth over the forecast period.
On the basis of application, the garnet market is divided into industrial jewelry and others. The industrial sector is projected to increase the global garnet industry in the coming years. The industrial sector is divided into abrasive blasting, abrasive powder, water jet cutting, and water filtration. Jewelry sector is propelled to experience a growth rate in the global garnet gemstone market because of the rising in demand for gemstone and jewelry products. Automotive and fabrication industry to upsurge demand for products of water jet cutting which is anticipated to accelerate the demand for the garnet industry in the coming years.
Topographically, regions involved in the development of global garnet industry are Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The U.S has some manufacturers that are dominating the global industrial garnet market. The garnet market has also increased in India and China.
Key Segments in the “Global Garnet Market” are-
By type market is segmented into:
By Application market is segmented into:
- Abrasive blasting
- Abrasive powder
- Water jet cutting
- Water filtration
By Regions market is segmented into:
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
What to expect from the Global Garnet Market report?
- Predictions of future made for this market during the forecast period.
- Information on the current technologies, trends, devices, procedures, and products in the industry.
- Detailed analysis of the market segmentation, depending on the types, devices, and products.
- Government regulations and economic factors affecting the growth of the market.
- An insight into the leading manufacturers.
- Regional demographics of the market.
Who should buy this report?
- Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies