Africa: Artificial Corundum Market 2024

Artificial Corundum Market Size in Africa

In 2021, after two years of growth, there was decline in the African artificial corundum market, when its value decreased by -2.3% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 5.8%. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Artificial Corundum Production in Africa

In value terms, artificial corundum production contracted modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 7.6%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Artificial Corundum Exports

Exports in Africa

In 2021, artificial corundum exports in Africa surged to X tons, rising by 384% on 2020. In general, exports recorded a relatively flat trend pattern. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, artificial corundum exports skyrocketed to $X in 2021. Overall, exports, however, showed a deep slump. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Somalia (X tons) represented the main exporter of artificial corundum, constituting 53% of total exports. South Africa (X tons) ranks second in terms of the total exports with a 26% share, followed by Egypt (11%) and Morocco (8.8%).

Somalia experienced a relatively flat trend pattern with regard to volume of exports of artificial corundum. At the same time, Egypt (+48.0%) and Morocco (+10.5%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in Africa, with a CAGR of +48.0% from 2012-2021. By contrast, South Africa (-9.3%) illustrated a downward trend over the same period. Somalia (+53 p.p.), Egypt (+11 p.p.) and Morocco (+5.1 p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by -38.6% from 2012 to 2021, respectively.

In value terms, Somalia ($X), South Africa ($X) and Morocco ($X) constituted the countries with the highest levels of exports in 2021, with a combined 92% share of total exports. These countries were followed by Egypt, which accounted for a further 7.6%.

Among the main exporting countries, Egypt, with a CAGR of +15.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, remaining constant against the previous year. In general, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2020 when the export price increased by 41%. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Morocco ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+3.8%), while the other leaders experienced a decline in the export price figures.

Artificial Corundum Imports

Imports in Africa

In 2021, overseas purchases of artificial corundum increased by 15% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, saw a slight curtailment. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, artificial corundum imports soared to $X in 2021. In general, imports, however, showed a mild decline. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Africa (X tons) was the largest importer of artificial corundum, constituting 50% of total imports. Morocco (X tons) held the second position in the ranking, distantly followed by Tunisia (X tons) and Kenya (X tons). All these countries together took near 42% share of total imports. The following importers - Egypt (X tons) and Algeria (X tons) - together made up 4.6% of total imports.

From 2012 to 2021, average annual rates of growth with regard to artificial corundum imports into South Africa stood at -4.4%. At the same time, Morocco (+8.2%), Kenya (+7.4%), Tunisia (+6.3%) and Algeria (+3.4%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in Africa, with a CAGR of +8.2% from 2012-2021. By contrast, Egypt (-16.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Morocco, Tunisia and Kenya increased by +13, +5.4 and +5.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Morocco ($X) and Tunisia ($X) were the countries with the highest levels of imports in 2021, with a combined 81% share of total imports.

Tunisia, with a CAGR of +10.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, growing by 2.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 34% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Algeria ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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