Global Garnet market will reach 604.67 million US$ by the end of 2025
Published Date: 2019/10/14
The global production of Garnet increases from 1832.7 K MT in 2014 to 1208.5 K MT in 2019, at a CAGR of -7.99%. In 2019, the global Garnet market is led by Australia, capturing about 30.47% of global Garnet production. China is the second-largest region-wise market with 21.99% global production share.
At present, the major manufacturers of Garnet are concentrated in GMA Garnet, V.V. Mineral, Rizhao Garnet and Trimex Sands. The global Garnet market that was valued at 462.84 Million USD in 2014 is up to be worth 427.27 Million USD by the end of 2019, registering growth at CAGR of -1.59%.
Quality Garnet is used for a range of applications such as Water Jet Cutting, Abrasive Blasting, Water Filtration, Abrasive Powders and others. Globally, the Garnet market is mainly driven by growing demand for Water Jet Cutting which accounts for nearly 37.86% of total downstream consumption of Garnet in 2018.
According to our research and analysis, because India and Australia crude garnet concentrate are rich in resources, manufacturers from India and Australia are the major leaders in the international market of Garnet.
There are many members in the garnet family, Almandine and Pyrope are main member, Almandine takes 81.19% in global production of garnet in 2018. Garnet price show a trend of growth in 2016 to 2019, predicted that prices will gradually stabilize in the next few years.
In 2025 the production of Garnet is estimated to be 1721.1 K MT and the global Garnet market that estimated to be valued at 604.67 Million USD in 2025.
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