by The global industrial garnet market is driven by increasing application of garnet in abrasive products. Garnet finds wide usage in abrasive blasting, water jet cutting, abrasive powders, abrasive wheels, and as filtration media due to its hardness. It is an economical and effective abrasive mineral that provides consistent and safe surface preparation. Industrial garnet plays a key role in cleaning, smoothing and preparing surfaces for paints, coatings and treatments.
Garnet possesses certain distinct physical properties that make it well-suited for abrasive and filtration applications. It has a hardness of 6.5–7.5 on the Mohs scale and possesses angular fractures for cutting action. Its compressive strength of over 18,000 psi enables it to pulverize and remove tough surface coatings, rust and mill scale. Garnet does not cause sparkle hazard and has negligible silica content, reducing health risks.
The global industrial garnet market is estimated to be valued at US$ 1024.4 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 key trends:
One of the key trends in the industrial garnet market is the increasing preference for environmentally sustainable garnet. Conventional abrasives like silicon carbide and aluminium oxide pose environmental hazards during mining and production. In contrast, garnet mining involves simple open pit method with minimal processing. It is a naturally occurring material and does not require further treatment with toxic chemicals. Garnet helps reduce carbon footprint of surface preparation activities in various industries like automotive, marine, and infrastructure development. The eco-friendly nature of garnet is driving its popularity, especially in Western nations with strict environmental regulations. Growing environmental consciousness among consumers as well as industries is expected to boost demand for “green” abrasives in the coming years.
Porter’s Analysis
- Threat of new entrants: The industrial garnet market requires large upfront capital investments in mining machinery and equipment, providing barriers for new players.
- Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and differentiated product offerings from various manufacturers.
- Bargaining power of suppliers: Suppliers have moderate bargaining power due to scarce availability of garnet reserves globally and long-term supply agreements between miners and end-users.
- Threat of new substitutes: Alternatives like ceramic beads, Indian white corundum, and manufactured sands pose threat to the industrial garnet market.
- Competitive rivalry: The market has large and small players competing on factors like product quality, consistency in supply, and pricing.
Key Takeaways
The global industrial garnet market is expected to witness high growth. The global industrial garnet market is estimated to be valued at US$ 1024.4 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030.
Asia Pacific currently dominates the global industrial garnet market, with China being the largest producer and consumer. Growth in the region is driven by the steady expansion of abrasive application industries like waterjet cutting and abrasive blasting. North America and Europe are other major consumers of industrial garnet owing to huge existence of waterjet cutting machines and steady growth of shipbuilding and aircraft industries in these regions. India and Vietnam are emerging as high growth markets in Asia driven by low cost of garnet production and growth of local abrasive industries.
Key players: 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. GMA Garnet Group is one of the leading players producing high quality garnet grit for water jet cutting and blast cleaning. Trimex primarily focuses on supplying garnet abrasives to steel and foundry industries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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