Asia: Artificial Corundum Market 2024

Artificial Corundum Market Size in Asia

In 2021, after three years of growth, there was significant decline in the Asian artificial corundum market, when its value decreased by -12% to $X. Overall, consumption showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the market value increased by 5% against the previous year. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Artificial Corundum Production in Asia

In value terms, artificial corundum production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 7.4% against the previous year. The level of production peaked at $X in 2020, and then dropped slightly in the following year.

Artificial Corundum Exports

Exports in Asia

In 2021, after three years of decline, there was significant growth in overseas shipments of artificial corundum, when their volume increased by 53% to X tons. Total exports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 78%. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, artificial corundum exports soared to $X in 2021. Over the period under review, exports enjoyed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, recording X tons, which was near 92% of total exports in 2021. The following exporters - Bahrain (X tons) and South Korea (X tons) - together made up 4.7% of total exports.

Exports from China increased at an average annual rate of +3.0% from 2012 to 2021. At the same time, Bahrain (+20.0%) and South Korea (+6.9%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in Asia, with a CAGR of +20.0% from 2012-2021. From 2012 to 2021, the share of Bahrain increased by +2.2 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest artificial corundum supplier in Asia, comprising 93% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 2.1% share of total exports.

In China, artificial corundum exports increased at an average annual rate of +9.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bahrain (+17.0% per year) and South Korea (+11.1% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, jumping by 30% against the previous year. Export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, artificial corundum export price increased by +75.8% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.4%), while the other leaders experienced mixed trends in the export price figures.

Artificial Corundum Imports

Imports in Asia

In 2021, after three years of decline, there was significant growth in overseas purchases of artificial corundum, when their volume increased by 26% to X tons. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, artificial corundum imports soared to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Japan represented the main importing country with an import of around X tons, which finished at 40% of total imports. South Korea (X tons) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (11%), Taiwan (Chinese) (7.6%) and Thailand (5.7%). The following importers - the United Arab Emirates (X tons), India (X tons) and Indonesia (X tons) - together made up 7.3% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +34.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2021, with a combined 69% share of total imports. Thailand, Taiwan (Chinese), the United Arab Emirates, India and Indonesia lagged somewhat behind, together accounting for a further 20%.

India, with a CAGR of +30.7%, recorded the highest rates of growth with regard to the value of imports, among 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

The import price in Asia stood at $X per ton in 2021, increasing by 8.7% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 23% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Thailand ($X per ton) and Turkey ($X per ton), while Taiwan (Chinese) ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :