Digital Advertising is fastest growing segment fueling the growth...

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

Posted 2023-11-08 07:55:01

Growing demand from abrasive industry is one of the major drivers of industrial garnet market. Abrasives are frequently used for various applications like grinding, cutting, polishing etc. of materials like wood, glass, plastic, metal etc. Garnet is considered as premium abrasive owing to its sharp edged crystals, durability and hardness. As a result, it is widely used in various applications ranging from cleaning surfaces, preparation of coated abrasives, water jet cutting and more. Growing demand from water jet cutting technology is also expected to boost the market growth during the forecast period. Water jet cutting aids precision cutting without damaging the base material. Hence, water jet cutting finds application in electronics as well as aerospace industry. However, availability of substitutes like aluminum oxide and silicon carbide may hinder the market growth of industrial garnet over the forecast period.

Key Takeaways

The global Industrial Garnet Market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing demand from water jet cutting applications in stone, metal, and ceramic industries.

Regional analysis:

North America dominates the industrial garnet market, owing to strong presence of abrasive and waterjet cutting equipment manufacturers in the US and Canada. The Asia Pacific region is expected to witness fastest growth on account of expanding industrial manufacturing in India, China, and Japan. Countries like India and China are also major producers of industrial garnet globally.

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