The US garnet export market exhibited mixed trends from 2013 to 2023, with noticeable declines early on but stabilizing in recent years. Exports in 2023 stood at $12.34 million, showing a slight year-on-year increase of 0.37%. Comparatively, the CAGR over the last five years leading up to 2023 was 0.4%, indicating very modest growth. Forecasts for 2024 onwards suggest a steady upward trend, with a CAGR of 0.31% and a total growth rate of 1.54% over the next five years.
Trends to watch for in the future include shifts in global demand for garnet, potential supply chain disruptions, and technological advancements in mining and processing that could impact production costs and export volumes.
