Asia-Pacific: Artificial Corundum Market 2024

Artificial Corundum Market Size in Asia-Pacific

In 2021, after three years of growth, there was significant decline in the Asia-Pacific artificial corundum market, when its value decreased by -14.6% to $X. Over the period under review, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the market value increased by 7.4% 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-Pacific

In value terms, artificial corundum production declined slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. 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 shrank slightly in the following year.

Artificial Corundum Exports

Exports in Asia-Pacific

In 2021, overseas shipments of artificial corundum increased by 54% to X tons for the first time since 2017, thus ending a three-year declining trend. Total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 80% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, artificial corundum exports surged to $X in 2021. In general, exports continue to indicate a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near 96% of total exports in 2021. South Korea (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to artificial corundum exports from China stood at +3.0%. At the same time, South Korea (+6.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +6.9% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest artificial corundum supplier in Asia-Pacific, comprising 95% of total exports. The second position in the ranking was held by South Korea ($X), with a 1.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China stood at +9.6%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, with an increase of 31% against the previous year. Export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.9% 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 +78.8% 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 South Korea totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.4%).

Artificial Corundum Imports

Imports in Asia-Pacific

In 2021, overseas purchases of artificial corundum increased by 36% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, artificial corundum imports surged to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan represented the main importing country with an import of about X tons, which reached 48% of total imports. South Korea (X tons) took a 25% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (9.1%) and Thailand (6.9%). The following importers - India (X tons), Australia (X tons) and Indonesia (X tons) - each resulted at a 5.9% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +34.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 78% of total imports. These countries were followed by Taiwan (Chinese), India, Australia and Indonesia, which together accounted for a further 13%.

In terms of the main importing countries, India, with a CAGR of +30.7%, saw the highest growth rate of the value of imports, 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 Asia-Pacific amounted to $X per ton, surging by 4.9% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 22%. As a result, import price attained 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 ($X per ton) and India ($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 Australia (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :