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Explore the Industrial Garnet market report by Fact for insights on trends, growth drivers, key players, and future opportunities.
ROCKVILLE, MD, UNITED STATES, December 16, 2024 /EINPresswire / -- In 2024, the industrial garnet market is expected to be worth US$703.1 million. The market is anticipated to expand at a 5.4% compound annual growth rate (CAGR) from 2024 to 2034, reaching a valuation of US$ 1,189.7 million by that time.
The market for industrial garnet benefits from the expanding oil and
gas sector, particularly from hydraulic fracturing, or fracking. Because of its resilience and hardness, garnet is a useful proppant for fracking operations, which increases the efficiency of oil and gas extraction. The demand for industrial garnet, which is required to support energy extraction processes, is rising as a result of increased shale gas development, especially in North America.
Applications outside of abrasives are increasingly using industrial garnet, especially in the paint and water filtration industries. Garnet's consistent particle size, durability, and chemical inertness make it an ideal material for a water filter. Its hardness also contributes to the production of high-quality surface coatings.
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"More demand for abrasives as a result of infrastructure improvements to support growth."
The surge in infrastructure construction projects around the world has led to a significant increase in demand for industrial garnet. As construction and industrial operations rise, there is an increasing need for precise cutting in applications like waterjet cutting.
In order to meet the rigorous requirements of infrastructure projects, industrial garnet is a valuable abrasive due to its high hardness and consistent particle size. This has greatly increased the market's growth and led to its increasing application in a number of industries.
Country-specific Perspectives:
It is projected that the US market would reach a valuation of US$ 132.4 million in 2024, with a projected growth of 66.3%. The industrial garnet business is growing as a result of increased shale gas exploration and exploitation in the United States. Garnet is a desirable substance that aids in hydraulic fracturing, or "fracking," due to its hardness and inertness. By acting as a proppant, it improves the efficiency of oil and gas extraction.
Demand for garnet has increased in the US as a result of increased attention being paid to domestic energy production. Additionally, because of the country's stringent environmental impact regulations, businesses choose garnet. Because it is non-toxic and has few environmental hazards, it is used in a wide range of applications, including waterjet cutting and abrasive blasting.
Leading Players Driving Innovation in the Industrial Garnet Market:
GMA Garnet Group; Indian Ocean Garnet Sands Company Ltd; Trimex Sands Private Limited; Barton International; Zircon Mineral Co.; Mohawk Garnet Inc.; Opta Minerals Inc.; Beach Minerals Company; Rizhao Garnet Ltd; V.V. Mineral Pvt. Ltd
The Competitive Environment:
In the global industrial garnet market, businesses are actively mining, processing, and supplying superior garnet for a variety of industrial applications. These businesses focus on cutting-edge extraction methods to ensure efficient production and superior quality. Waterjet cutting, abrasive blasting, filtration, and abrasive powders are among the industries they service.
In order to explore new applications, enhance the functionality of their products, and maintain a competitive edge, market players also invest money in research and development. Businesses in the industrial garnet sector are distinguished by their efforts towards sustainability, responsible mining methods, and strategic relationships, which align with evolving industry requirements.
Industrial Garnet Industry News:
In 2023, the customer was invited to take part in a performance test that mirrored their project requirements after GMA's Technical Experts compared GMA NewSteelTM to a popular coal slag brand. The results were clear: GMA's garnet abrasive reduced abrasive consumption by 50% and increased output by 71% at 15% lower cost. This showed the immediate advantages of switching from waste slag to a high-quality garnet abrasive in real time.
Indian Ocean Garnet Sands Company Ltd (IOGS) produces natural almandine garnet, which is "the only eco-friendly abrasive mineral in the world," with advantages over alternatives. Efficiency and productivity are guaranteed by its unique toughness and grain hardness. IOGS mines are rich in high-grade natural almandine garnet, with particle sizes ranging from 8 to 120 mesh. IOGS produces a wide range of grades and compositions suitable for different purposes and profiles.
Growth Drivers for the Industrial Garnet Market:
Growing Demand in Water Filtration: Industrial garnet is increasingly used as a filtration medium in water treatment plants due to its high specific gravity and durability, driven by rising global water scarcity and regulatory mandates for water quality.
Expanding Use in Abrasive Applications: The use of garnet in abrasive blasting, waterjet cutting, and surface preparation is a key growth driver, especially in industries like construction, shipbuilding, and automotive.
Technological Advancements in Mining: Improved mining techniques and processing technologies have enhanced garnet extraction and purity, increasing its attractiveness for high-precision applications.
Increasing Adoption in Oil & Gas Sector: Garnet is widely used for sandblasting and cleaning in the oil and gas industry, with sectoral growth spurring garnet demand.
Eco-Friendly and Recyclable Properties: Garnet's non-toxic, recyclable nature makes it a preferred choice over alternatives like silica sand, aligning with sustainability trends and regulations.
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