China: Artificial Corundum Market 2024

Artificial Corundum Market Size in China

In 2021, after three years of growth, there was significant decline in the Chinese artificial corundum market, when its value decreased by -40.7% to $X. In general, consumption continues to indicate a noticeable decrease. Artificial corundum consumption peaked at $X in 2020, and then dropped sharply in the following year.

Artificial Corundum Production in China

In value terms, artificial corundum production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 11% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then declined slightly in the following year.

Artificial Corundum Exports

Exports from China

In 2021, after three years of decline, there was significant growth in shipments abroad of artificial corundum, when their volume increased by 54% to X tons. In general, total exports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +3.0% 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 with an increase of 82%. The exports peaked in 2021 and are expected to retain growth in the near future.

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

Exports by Country

Japan (X tons), the United States (X tons) and the Netherlands (X tons) were the main destinations of artificial corundum exports from China, with a combined 42% share of total exports. These countries were followed by India, South Korea, Turkey, Thailand, Brazil, Italy, Mexico, Germany, Poland and the UK, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +21.1%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and the United States ($X) were the largest markets for artificial corundum exported from China worldwide, together accounting for 41% of total exports. These countries were followed by the Netherlands, India, Thailand, Turkey, Brazil, Germany, the UK, Mexico, Italy and Poland, which together accounted for a further 33%.

In terms of the main countries of destination, Brazil, with a CAGR of +23.6%, recorded the highest growth rate of 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

In 2021, the average artificial corundum export price amounted to $X per ton, rising by 33% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.4% 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 export price increased by +85.6% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Artificial Corundum Imports

Imports into China

In 2021, the amount of artificial corundum imported into China soared to X tons, growing by 67% against the year before. Over the period under review, imports, however, faced a precipitous contraction. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, artificial corundum imports surged to $X in 2021. In general, imports, however, showed a abrupt setback. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X tons), South Korea (X tons) and the United States (X tons) were the main suppliers of artificial corundum imports to China, with a combined 72% share of total imports. These countries were followed by Canada, Germany, France, Switzerland, Austria, India and the Netherlands, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +62.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest artificial corundum suppliers to China were Japan ($X), Switzerland ($X) and the United States ($X), with a combined 63% share of total imports. Canada, South Korea, France, Germany, India, Austria and the Netherlands lagged somewhat behind, together comprising a further 27%.

Canada, with a CAGR of +62.7%, recorded the highest rates of growth with regard to 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

The average artificial corundum import price stood at $X per ton in 2021, with a decrease of -18.2% against the previous year. In general, the import price, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 138% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+27.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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