Industrial Garnet Market to reach around US$ 844 Mn by 2027

Garnets are referred to as the treasurable stone composed of deep red vitric silicate minerals that have several commercial and industrial applications. There are different types of garnets are available with similar physical properties but with different chemical composition. They are available in different colors such as black, red, green, blue, yellow, pink, brown, purple, orange, and colorless. Garnets have various excellent properties some of them are hardness, resistance, and inertness which makes them suitable for various industrial and commercial applications. Automotive, oil &gas, electronics, petroleum, furniture, and aerospace are some of the end-user of industrial garnet.

Global industrial garnet market is estimated to account for around US$ 652.7 million in terms of value in the year 2022 and it predicted to grow at a CAGR of 5.8% during the forecast period (2023-2030).

Driver

Growing demand for industrial garnet

Growing demand for industrial garnet from aerospace, automobile, and shipbuilding as an abrasive is expected to fuel the market growth of industrial garnet. Rising demand for garnet from the oil &gas industry for good casings and cleaning drilling pipes are also expected to foster the market growth of industrial garnets. Moreover, the growth in investment in the defense industry by the government of developing region is further projected to augment the market growth of industrial garnets over the forecast period.

Market Opportunities

Rising demand for industrial garnet from the automotive industry

Rising demand for industrial garnet from the automotive industry as an abrasive for manufacturing of automobile parts is anticipated to accelerate the market growth of industrial garnet. Automobile manufacturers across the developed region such as Europe and North America are rapidly adopting industrial garnet for the water jet cutting application for manufacturing of automobile parts such as chassis and gears. This is expected to fuel market growth of industrial garnet over the forecast timeframe.

Market Restraints

Availability of various abrasive

Availability of various abrasive that are natural and can be used across various end-use industries is expected to restrict the market growth industrial garnet. For example, magnetite, illmenite, and certain plastics can be used as filtration media in place of garnet. Also, staurolite and aluminum oxide can be used as sandblasting materials. Thus, the wide availability of such minerals that are best alternative of garnet is expected to restrict market growth of industrial garnet.

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Key Takeaways:

On the basis of region, North America dominated the global industrial garnet market in 2022 with a 27.5% of market share in terms of value, followed by Asia Pacific and Europe respectively.

On the basis of type, the Almandine segment dominated the global industrial garnet market in 2022 with 50.9 % of market share in terms of value, followed by Pyrope and Andradite respectively.

Market Trends

Rising use of garnet in water-filtration

Rising use of garnet in water-filtration coupled with the increasing demand for garnet from finishing bare wood for making furniture and other wood products is expected to be a major trend in the market of industrial garnet. Growing demand for garnet from surface ships and vessel application, where it is used to smoothen the surface is also expected to accelerate the market growth of industrial garnet over the forecast period.

Growing demand for gemstone coupled with the rapid growth of the chemical industry

The growing demand for gemstone coupled with the rapid growth of the chemical industry is estimated to positively shape the market of industrial garnet over the forecast timeframe. Growth in the ceramic and glass producers especially across the U.S. is also expected to augment the market growth of the industrial garnet. Moreover, the growth of industrial garnet market is also attributed to the rising demand for petrochemical products around the globe.

Competitive Section:

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