Canada: Artificial Corundum Market 2024

Artificial Corundum Market Size in Canada

The Canadian artificial corundum market fell sharply to $X in 2021, shrinking by -27.1% against the previous year. Overall, consumption continues to indicate a mild curtailment. Over the period under review, the market hit record highs at $X in 2020, and then declined dramatically in the following year.

Artificial Corundum Production in Canada

In value terms, artificial corundum production dropped significantly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 130% against the previous year. Artificial corundum production peaked at $X in 2020, and then fell remarkably in the following year.

Artificial Corundum Exports

Exports from Canada

In 2021, the amount of artificial corundum exported from Canada soared to X tons, growing by 25% on the previous year's figure. In general, exports, however, recorded a slight curtailment. The growth pace was the most rapid in 2014 when exports increased by 261%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, artificial corundum exports skyrocketed to $X in 2021. Overall, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for artificial corundum exports from Canada, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -1.3%.

In value terms, the United States ($X) also remains the key foreign market for artificial corundum exports from Canada.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

The average artificial corundum export price stood at $X per ton in 2021, picking up by 2.3% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% 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 decreased by -7.6% against 2019 indices. The growth pace was the most rapid in 2015 when the average export price increased by 193% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +2.3% per year.

Artificial Corundum Imports

Imports into Canada

In 2021, after two years of decline, there was significant growth in purchases abroad of artificial corundum, when their volume increased by 15% to X tons. In general, imports, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2018 when imports increased by 52%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, artificial corundum imports rose rapidly to $X in 2021. Over the period under review, imports, however, recorded a mild setback. The most prominent rate of growth was recorded in 2018 when imports increased by 40%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of artificial corundum to Canada, accounting for a 61% share of total imports. Moreover, artificial corundum imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Brazil (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.0% per year) and Brazil (+34.8% per year).

In value terms, the largest artificial corundum suppliers to Canada were the United States ($X), China ($X) and Austria ($X), together accounting for 83% of total imports. Brazil and Germany lagged somewhat behind, together accounting for a further 11%.

Brazil, with a CAGR of +30.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average artificial corundum import price amounted to $X per ton, falling by -6.2% against the previous year. Overall, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, artificial corundum import price increased by +38.9% against 2018 indices. The growth pace was the most rapid in 2019 an increase of 28% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then reduced in the following year.

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 Austria ($X per ton), while the price for the United States ($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 (+3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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