Press release
Garnet Market Analysis, Segmentation and Development and Growth by Regions to 2030
The global garnet market is poised for steady revenue growth over the forecast period due to several factors. One of the primary drivers of revenue growth in the garnet market is its hardness and weather-resistance. Garnet is an ideal material for use in skid-resistant road gravel, skid-resistant coatings, and as a filler in concrete that is used in severe conditions. Garnet is a naturally occurring element that is reddish/pink in color, and can be obtained in a variety of forms including individual crystals, pebbles, or clumps of inter-grown crystal. It is composed of subangular particles extracted from an alluvial deposit, and can be found in metamorphic, igneous, and sedimentary rocks around the world.
The exceptional hardness profile of garnet, which ranges from 7.8 to 8.0 Mohs, makes it ideal for use in various industrial applications. Garnet has a higher specific gravity, angular fractures, low toxicity, and chemical inertness, all of which make it a versatile material. Almandine garnets are the most widely used as a gemstone and have been utilized for jewelry and ornaments, as well as abrasives. Garnets with inclusions can have a star-shaped reflection pattern or appear to change color depending on the light sources.
Garnet is used in various industrial applications such as blast cleaning, polishing, water filtration, and water jet cutting. Waterjet cutters utilize a high-pressure jet of water containing garnet and other abrasive grains. When directed at a piece of steel, ceramic, or stone, it removes the surface with very little dust. Garnet is gradually replacing silica in abrasives due to the health hazards associated with silica for workers. Additionally, garnet can be recycled, further increasing its value and sustainability. Overall, the steady growth of the garnet market is expected to continue due to its diverse range of applications and unique properties.
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Garnet Market Segments:
The global garnet market has been divided into three segments: Type Outlook, Application/End-use Outlook, and Regional Outlook.
The Type Outlook segment includes three sub-segments, which are Almandine, Pyrope, and Others. Almandine garnet is the most commonly used garnet variety. Pyrope garnets are a deep red and are often used in jewelry making. The "Others" sub-segment consists of other types of garnets that are not as commonly used.
The Application/End-use Outlook segment includes five sub-segments, which are Water Jet Cutting, Abrasive Blasting, Water Filtration, Abrasive Powders, and Others. Water jet cutting is the largest sub-segment in terms of revenue and is used for precise cutting of materials such as steel and glass. Abrasive blasting is used for surface preparation in construction and industrial settings. Water filtration is an important application of garnet due to its ability to filter out impurities. Abrasive powders are used in various applications such as polishing and lapping. The "Others" sub-segment includes applications such as gemstones and ornaments.
The Regional Outlook segment includes six sub-segments, which are North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is the largest market for garnet due to the presence of a large number of water jet cutting and abrasive blasting companies. Europe is also a significant market due to the demand for garnet in water filtration and abrasive blasting applications. Asia Pacific is expected to have the highest growth rate due to the increasing demand for water filtration and water jet cutting in the region. The Latin America, Middle East, and Africa sub-segments are expected to grow at a steady rate over the forecast period.
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Garnet Market Strategic Developments:
The Australia Garnet Mine joined forces with GMA Garnet to commence extraction of garnet in Lucky Bay, New Kalbarri, Australia in August 2021. The region has a vast quantity of garnet sands, and this collaboration was formed due to the high demand for the gemstones in Europe, Asia, and the Middle East. In September 2019, V.V. Mineral Pvt. Ltd began the search for garnet mines in Kenya and Tanzania in Southern and Eastern Africa as the Indian deposits were being exploited at an extensive rate and the company needed to meet the growing demand in the market.
Garnet Market Competitive landscape:
The garnet market is home to many significant companies that operate globally. These companies play a crucial role in the industry, which has been growing at a steady pace. GMA Garnet, headquartered in Germany, is one of the most prominent companies in the industry, having contributed significantly to the development of the market over the years. Another major company is Indian Ocean Garnet Sands Company Pvt. Ltd., based in India, which is a leading producer of high-quality garnet for various industries, including waterjet cutting and sandblasting.
Barton International Group, based in the United States, is also a significant player in the market, having pioneered the use of garnet abrasives in the waterjet cutting industry. Opta Minerals Group, headquartered in Canada, is another important company that offers garnet abrasives for use in various industries, including water filtration and surface preparation. V. Mineral Pvt. Ltd., based in India, is one of the fastest-growing companies in the industry, having expanded its operations in Southern and Eastern Africa to meet the rising demand for garnet.
Industrial Mineral Company (ICM) Pvt. Ltd., also based in India, is a leading producer of garnet abrasives for waterjet cutting and sandblasting. Indian Rare Earths Limited is another prominent player in the market, with a focus on the production of high-quality garnet for the sandblasting industry. Zircon Mineral Company FZC, headquartered in the United Arab Emirates, is a key player in the market, having established itself as a leading producer of industrial minerals, including garnet abrasives.
Trimex Sands Pvt. Ltd., based in India, is a well-known company that specializes in the production of high-quality garnet for waterjet cutting and sandblasting. Dev International Ltd., also based in India, is a significant player in the market, offering a wide range of industrial minerals, including garnet abrasives. Finally, Rizhao Garnet Ltd., headquartered in Australia, is a rapidly growing company that has established itself as a leading producer of high-quality garnet abrasives for various industries.
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