Garnet Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Garnet Market By Type (Andradite, Pyrope, Almandine, Uvarovite, Grossular, and Spessartine), By Application (Abrasive blasting, Abrasive powder, Water jet cutting, Water filtration, and Jewellery), and Geography

 

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Description

Global Garnet Market

 

Global garnet market report gives comprehensive outlook on garnet across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global garnet market gives historical, current, and future market sizes (US$ Mn) on the basis of type, application, and region. This report studies global garnet market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global garnet market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global garnet market.

 

Global Garnet Market:

The global garnet market is expected to be valued at US$ 393.6 Mn in 2019 and growing at a CAGR of 5.5% over the forecast period to reach US$ 538.7 Mn by 2026 due to its benefits such as healing, mystical, and astrological benefits. Garnet is the excellent gemstone that regulates blood circulation in body and also cures the blood efficiency and related diseases coupled with the properties such as reduction of hemorrhages and inflammation and also enhances the strength of spleen, lungs, and cures the injuries of spine. Moreover, this also offers benefits that reduces the depression and also protects from poisoning. Furthermore, it is a stone meant to bring success in life and adds magnetism to the persona of wearer and helps to achieve success within a short span of time and it also possess many astrological benefits.

 

Market Dynamics:

Garnet is widely used in all types of jewellery and has various applications in industry and garnet sand is used as a substitute for silica and sandblasting. Moreover, rising investments from the defense sector coupled with strict rules and regulations for not using hazardous minerals such as slag and silica are the major factors driving the growth of the market. Moreover, rising demand for garnets from oil refinery plant & petrochemical, and increasing demand for use of garnet in the production of parts of automobiles. However, Rise in inflation, labor costs and use of replacements are anticipated to hamper the growth of the market.

 

North America dominates the market share in the global garnet market

North America contributed highest share of revenue followed by Asia Pacific and Europe in the global garnet market.  North America region is anticipated to grow with a significant CAGR over the forecast years owing to rising use of garnets in waterjet cutting, sand blasting, water filtration, and others are the major factors driving the growth of the market. Moreover, increasing initiatives by the government in defense sector as well as in mining sector are the major driving factors. Asia Pacific and Europe are expected to register significant market share in the forecast years with highest CAGR owing increasing demand for garnet in various applications.

 

Competition Assessment

Key player’s profiles in the global garnet market include:

  • GMA Garnet
  • Trimex Sands
  • Dev International
  • Rizhao Garnet
  • V. Mineral
  • Indian Rare Earths Limited
  • Opta Minerals
  • Industrial Mineral Company
  • Transworld Garnet
  • Barton International
  • Zircon Mineral Company
  • Indian Ocean Garnet Sands Company

 

Key Findings of the Report:

  • Global garnet market expanding at significant CAGR over 2020 to 2026 owing to increasing demand for garnet in various applications.
  • Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
  • Players focusing on advancements and collaboration strategies to retain market position in global market

 

Key Features of the Report:

  • The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

 

Detailed Segmentation

 

By Type

  • Andradite
  • Pyrope
  • Almandine
  • Uvarovite
  • Grossular
  • Spessartine

By Application

  • Abrasive blasting
  • Abrasive powder
  • Water jet cutting
  • Water filtration
  • Jewellery

 

Geography

 

North America

  • USA
  • Canada

Europe

  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe

Asia-Pacific

  • Japan
  • China
  • India
  • Australia & New Zealand
  • ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Argentina
  • Venezuela
  • Rest of Latin America

Middle East and Africa

  • Gulf Cooperation Council (GCC) Countries
  • Israel
  • South Africa
  • Rest of MEA


Location

GEOGRAPHY

PBI Location Map

Competition Assessment

Key player’s profiles in the global garnet market include:

  • GMA Garnet
  • Trimex Sands
  • Dev International
  • Rizhao Garnet
  • V. Mineral
  • Indian Rare Earths Limited
  • Opta Minerals
  • Industrial Mineral Company
  • Transworld Garnet
  • Barton International
  • Zircon Mineral Company
  • Indian Ocean Garnet Sands Company

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