PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1419633
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1419633
Industrial garnet market size is projected to exhibit 5.5% CAGR from 2023 to 2032. The increasing demand for abrasive materials in various industries, such as metalworking and shipbuilding is fueling the adoption of industrial garnets in sandblasting applications. Of late, garnets are recording widespread usage in waterjet cutting processes for their precision and eco-friendly attributes.
The rising focus on sustainable and recyclable abrasives is also enhancing the product appeal through innovations. For instance, in August 2022, GMA Garnet introduced GMA ToughBlast™, a new garnet abrasive for its Australian customers, proving to be an all-round garnet abrasive for the most challenging industries and applications. With the rising prioritization of cost-effective and environmentally friendly abrasive solutions, the demand for industrial garnets is increasingly rising for their versatility and performance characteristics. Moreover, widespread application in water filtration and petrochemical industries will also boost the market growth.
The industrial garnet market is segregated into type, application, and region.
Based on type, the industry value from the pyrope segment is projected to expand at substantial CAGR from 2023 to 2032, driven by its increasing appeal in jewelry applications owing to its vibrant red hue. Given its rich color and unique properties, pyrope is a sought-after choice, fostering increased usage in various applications. Moreover, the rising demand for high-quality pyrope garnets in the gemstone industry will also drive the segment growth.
Industrial garnet market share from the water jet cutting application segment is estimated to rise at significant CAGR from 2023 to 2032. The growth can be attributed to the exceptional hardness and ability offered by garnets to produce precise cuts. The ongoing demand for garnet abrasives in water jet cutting processes, especially in industries requiring precision cutting will push the segment growth ahead.
Regionally, the Europe industrial garnet market is projected to expand at rapid pace from 2023 to 2032. This is due to the increasing demand for abrasive materials in metalworking and the rising utilization of garnet in water jet cutting applications. In addition, the growing emphasis on sustainable and eco-friendly abrasive solutions will favor the regional market expansion.