( PR4US.com | Press Release | 2016-09-16 21:38:23 )
A substantial investment in the defense sector and growth of other industries, superior properties of garnet as compared to other minerals, increasing government initiatives in mining activities, and stringent regulations to ban the use of hazardous minerals such as silica and slag are some of the key factors expected to boost the growth of the global industrial garnet market over the forecast period. However, an analysis by Persistence Market Research
shows that easy availability of low cost substitutes such as fused aluminum oxide, staurolite, illmenite, and quartz sand are likely to pose challenges to the growth of the global industrial garnet market over the forecast period.
The global industrial garnet market stood at a valuation of US$ 475.7 Mn in 2016 and is estimated to be valued at US$ 721.8 Mn by the end of 2024, expanding at a CAGR of 5.4% during this period. In a report titled “Global Industrial Garnet Market: Industry Analysis And Forecast, 2016–2024”, Persistence Market Research
delivers pertinent insights on the growth of the global industrial garnet market and identifies key market dynamics impacting this growth. This report covers global trends driving the growth of the industrial garnet market and offers analysis, production outlook, and insights into the potential of the industrial garnet market in specific regions.
Download Sample of This Report @ http://www.persistencemarketresearch.com/samples/11794
Some of the key trends likely to govern the global industrial garnet market during the forecast period are – a rising demand for the use of garnet abrasive in the manufacturing of automobile parts, increasing demand for garnet in shipbuilding repairs work, growing demand for garnet in petrochemical and oil refineries plants, and a steady focus on recycling garnet as well as mining of high-grade garnet ores. The industrial garnet market provides a huge market opportunity as it can be used as a proppant in certain industries such as petroleum owing to its functions of improving performance and minimizing chemical leaching and environmental impact. The oil and gas drilling industry has shown greater adoptability of garnet as an oil and gas reservoir fracturing proppant.
Browse Complete Report @ http://www.persistencemarketresearch.com/market-research/global-industrial-garnet-market.asp
Persistence Market Research
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