Digital Advertising is fastest growing segment fueling the growth of Industrial Garnet Market

 

Industrial Garnet Market

The global Industrial Garnet Market is estimated to be valued at US$ 690.56 Bn 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 Overview:

Industrial garnet possesses ideal physical properties suitable for abrasives and waterjet cutting applications. It has hardness, angularity, specific gravity and neutral chemistry, making it more effective than Aluminum oxide and Silicon carbide for such applications. The increasing demand for waterjet cutting technology across various industries is driving the industrial garnet market.

Market key trends:

One of the key trends in the industrial garnet market is its increasing use in waterjet cutting applications. Waterjet cutting is a non-thermal process which involves high-pressure water or abrasive waterjet to cut hard, brittle and heat-sensitive materials. Industrial garnet is increasingly used as an abrasive medium in waterjet cutting owing to its hardness and durability. The rapid growth of construction and automotive industries where waterjet cutting technology is widely used to cut shape complicated designs is fueling the demand for industrial garnet. Further, rising demand for precision cutting across various industries without damaging the substrate is also contributing to the growth of industrial garnet for waterjet cutting.

Segment Analysis

The global industrial garnet market is segmented based on type, application, and region. Based on type, the market is divided into almandine, andradite, grossular, pyrope, spessartine, and uvarovite. The almandine segment dominates the market as it constitutes over 60% of the global industrial garnet reserves and finds extensive applications in abrasive industry.

Key Takeaways

The global industrial garnet market is expected to witness high growth, exhibiting a CAGR of 5.8% over the forecast period, due to increasing demand from abrasive industry.

Regional analysis

Asia Pacific dominates the global industrial garnet market and is expected to grow at the fastest rate during the forecast period. Countries like India and China are the major contributors to the growth of industrial garnet market in Asia Pacific region due to proliferation of abrasive industry.

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. The market is fragmented in nature with big players catering to over 30% of global demand.

Read More

https://www.dailyprbulletin.com/industrial-garnet-market-size-share-growth-outlook-2023/

Comments

Post a Comment

Popular posts from this blog

Global Epigenetics Market: Current Trends and Future Prospects

Image
The field of epigenetics has been making significant strides in recent years, and the epigenetics market is no exception. Epigenetics refers to the study of changes in gene expression or cellular traits that occur without alterations to the underlying DNA sequence. This dynamic and rapidly evolving field has vast implications for our understanding of genetics, disease, and personalized medicine. The epigenetics market encompasses a wide range of products and services, including DNA methylation analysis, histone modification assays, and chromatin immunoprecipitation. Researchers and pharmaceutical companies are increasingly turning to epigenetics to uncover the intricacies of diseases such as cancer, Alzheimer's, and cardiovascular disorders. The global epigenetics market is expected to continue its growth trajectory, with ongoing advancements in technology and the potential for groundbreaking discoveries. As we delve deeper into the epigenetic code, the market is set to play a piv
Read more

Clamshell Packaging Market to Grow at High Rate Owing to Rising Demand for Sustainable Packaging Options

Image
  Clamshell Packaging Market The global Clamshell Packaging Market is estimated to be valued at US$ 8.61 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.   Clamshell packaging refers to a hinged plastic packaging solution used majorly for food and consumer goods. It provides easy opening and closing functionality along with product protection and tamper resistance. The growth in demand for sustainable and eco-friendly clamshell packaging from various end-use industries is propelling the clamshell packaging market growth.   Market Overview: Clamshell packaging is a two-piece shell that snaps or clicks together to securely hold its content. It is widely used for packaging small consumer goods, food items, cosmetics, electronic accessories, and pharmaceutical products due to its excellent sealability and transparency properties. The rising focus on product safety and
Read more

Global Veterinary Equipment and Disposables Market: Trends and Outlook

Image
The veterinary equipment and disposables market is experiencing notable growth and transformation. With the increasing number of pet owners considering their animals as family, there is a growing demand for advanced diagnostic tools, surgical instruments, and consumables in veterinary practices. This trend is also supported by the evolving landscape of veterinary medicine, which now integrates sophisticated equipment like digital radiography and ultrasound. In addition to companion animals, the livestock and poultry industry also relies on specialized veterinary equipment to ensure the health and welfare of animals, contributing to market expansion. Moreover, the emphasis on preventive care and early disease detection has led to a surge in the adoption of veterinary equipment and diagnostics for routine check-ups. The incorporation of technology in veterinary practices, including electronic health records and telemedicine, is further enhancing the efficiency and quality of animal healt
Read more