Belgium: Artificial Corundum Market 2024

Artificial Corundum Market Size in Belgium

After five years of decline, the Belgian artificial corundum market increased by 22% to $X in 2021. The market value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Artificial Corundum Production in Belgium

In value terms, artificial corundum production amounted to $X in 2021 estimated in export price. Overall, production showed a pronounced contraction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 30%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Artificial Corundum Exports

Exports from Belgium

In 2021, approx. X tons of artificial corundum were exported from Belgium; which is down by -53.9% on 2020. Overall, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 2,356%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, artificial corundum exports shrank sharply to $X in 2021. In general, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of 2,278%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

France (X tons), Germany (X tons) and the United States (X tons) were the main destinations of artificial corundum exports from Belgium, together comprising 83% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +112.6%), while the other leaders experienced mixed trend patterns.

In value terms, France ($X), the United States ($X) and Germany ($X) appeared to be the largest markets for artificial corundum exported from Belgium worldwide, together comprising 81% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +123.2%, saw the highest rates of growth with regard to 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

The average artificial corundum export price stood at $X per ton in 2021, jumping by 18% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 28%. The export price peaked in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.

Artificial Corundum Imports

Imports into Belgium

Artificial corundum imports into Belgium dropped notably to X tons in 2021, waning by -39.3% compared with the previous year. In general, imports saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 288%. As a result, imports reached the peak of X tons, and then declined rapidly in the following year.

In value terms, artificial corundum imports shrank dramatically to $X in 2021. Over the period under review, imports saw a perceptible decline. The pace of growth appeared the most rapid in 2020 with an increase of 235% against the previous year. As a result, imports attained the peak of $X, and then fell markedly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest artificial corundum supplier to Belgium, accounting for a 80% share of total imports. Moreover, artificial corundum imports from China exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), ninefold. The third position in this ranking was taken by Germany (X tons), with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-0.1% per year) and Germany (+2.0% per year).

In value terms, China ($X) constituted the largest supplier of artificial corundum to Belgium, comprising 75% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 7.8% share of total imports. It was followed by Germany, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-0.3% per year) and Germany (+0.6% per year).

Import Prices by Country

The average artificial corundum import price stood at $X per ton in 2021, surging by 3.8% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 22%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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