Australia and Oceania: Artificial Corundum Market 2024

Artificial Corundum Market Size in Australia and Oceania

The artificial corundum market in Australia and Oceania reduced notably to $X in 2021, waning by -16% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then shrank sharply in the following year.

Artificial Corundum Production in Australia and Oceania

In value terms, artificial corundum production shrank rapidly to $X in 2021 estimated in export price. In general, production showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 when the production volume increased by 71% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Artificial Corundum Exports

Exports in Australia and Oceania

In 2021, shipments abroad of artificial corundum decreased by -63.1% to X tons, falling for the eighth year in a row after two years of growth. Over the period under review, exports recorded a precipitous slump. The most prominent rate of growth was recorded in 2013 when exports increased by 31% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, artificial corundum exports reduced dramatically to $X in 2021. In general, exports recorded a dramatic curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 5.9%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Australia was the key exporter of artificial corundum in Australia and Oceania, with the volume of exports finishing at X tons, which was near 85% of total exports in 2021. It was distantly followed by New Zealand (X tons), constituting a 15% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to artificial corundum exports from Australia stood at -42.3%. At the same time, New Zealand (+29.8%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +29.8% from 2012-2021. New Zealand (+15 p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by -15.2% from 2012 to 2021, respectively.

In value terms, Australia ($X) remains the largest artificial corundum supplier in Australia and Oceania, comprising 89% of total exports. The second position in the ranking was taken by New Zealand ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Australia totaled -38.5%.

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per ton, surging by 53% against the previous year. Export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained 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 Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+6.6%).

Artificial Corundum Imports

Imports in Australia and Oceania

In 2021, overseas purchases of artificial corundum increased by 5.4% to X tons, rising for the fifth year in a row after two years of decline. In general, imports saw a remarkable increase. The growth pace was the most rapid in 2017 with an increase of 89% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, artificial corundum imports rose rapidly to $X in 2021. Over the period under review, imports recorded resilient growth. The growth pace was the most rapid in 2017 when imports increased by 124%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Australia prevails in imports structure, recording X tons, which was approx. 98% of total imports in 2021. New Zealand (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to artificial corundum imports into Australia stood at +6.9%. At the same time, New Zealand (+15.4%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +15.4% from 2012-2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported artificial corundum in Australia and Oceania, comprising 98% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 2.1% share of total imports.

In Australia, artificial corundum imports expanded at an average annual rate of +10.0% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, rising by 5.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2017 an increase of 18% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+2.9%).

Source: IndexBox Platform

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