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Garnet is a group of silicate minerals, the mined gemstone that is an industrial material and have wide applications in industries. It is present in virtually all colours, but blue is very rare. Its optical properties include single refractive, often anomalous magnetic attraction depending on the species of garnets. Therefore, this infers that all species of garnet, possess similar physical properties and crystal similar physical properties, but differ in chemical composition.
The global garnet market currently accounts for USD 395.5 Million in 2017 and will reach USD 726.8 Million by 2023. Further, the market reports CAGR of 5.5% during the forecasted period of 6 years i.e. 2018-2023.
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(1) It does not contain a high level of toxic substances and low dust protection, so it is much safer for the workers.
(2) Garnet is environmentally friendly, so it is ideal for sites that are on or around bodies of water.
(3) It offers superior hardness as well as excellent coating prep and adhesion properties.
(4) It is cost effective as it lasts longer due to its hardness.
(5) They are extensively used in jewellery making, also have wide applications as an abrasive.
(6) Garnet is considered in ideal filtration medium and water jet abrasive.
The industrial garnet market is bifurcated into product type and application type. The product type, it is divided into Almandine, Andradite, Grossular, Pyrope, Spessartine, and Uvarovite. By application, it is divided into water jet cutting, Abrasive blasting, water filtration, abrasive powders and others. The statistics reveal that almandine to dominate the market because of its widely used in gem trade and considered as healing crystal.
The global industrial garnet market depicts the current scenario of the countries, which have active marketers, which are continuously modifying their plans and policies in order to meet market needs and to reach target customers. The main countries under consideration are Europe, North America, Middle East & Africa and Asia-Pacific. North America is expected to dominate the market due to the increasing demand for the industrial market in stone cutting, water filtration and many more. Moreover, it supplies the best of their services to their consumers and always tries to reach their satisfaction level. Apart from North America, China and India are also coming forward in the market.
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The major market players in the 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, Rizhao Garnet Ltd. and Other Major & Niche Key Players. ‘Ziral mineral Company’ is a trusted name in the mineral processing industry. Their garnet mineral is tested for quality, mineral content and is subjected to strict processing. They process garnet minerals of various grades to meet industrial standards.
The wide demand for the mineral product in domestic as well as the foreign market has led to robust growth of the market.