PersistenceMarketResearch states that the global industrial garnet market will grow at the rate of more than 5% between 2020 and 2030.
Garnet has turned out to be an essential industrial commodity due to it being a one of the best industrial abrasives. Research states that global mine production did reach 1.2 Mn metric tons on the count of refined garnet concentrate in the last 1.5 decade. Amongst the familiar garnet minerals in abundance include pyrope, uvarovite, andradite, spessartine, grossular, and almandine. Garnet is also replacing quartz sand in several abrasive applications. All these factors have been driving the industrial garnet market and the scenario is expected to remain the same in the years to come.
India and Australia are likely to be the key suppliers in the upcoming period. This could be credited to India being home to huge industrial sector, that too, with multiple verticals of specialization. Also, India and Australia do hold the distinction of possessing proper export capabilities. So, it could be inferred that the Asia-Pacific would grow at the fastest rate herein between 2020 and 2030. North America and Europe are amongst the noteworthy revenue generators. LATAM and MEA need to catch up. The future is there to see some ripples on this count in the forecast period.
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The key market participants include Mohawk Garnet Inc., Barton International, Trimex Sands Pvt. Ltd., V.V. Mineral Pvt. Ltd., Indian Ocean Garnet Sands Company Ltd., GMA Garnet Group, Zircon Mineral Co., Opta Minerals Inc., Beach Minerals Company, Rizhao Garnet Ltd., and others.
Extensive research is being conducted to trace the history related to garnet. Of late, a group of scholars from the Boston College did find evidence pertaining to garnet’s historic presence in the rock samples found on Greek island. This discovery is bound to generate more interest amongst the key players, thereby bolstering the market.