Eastern Asia: Artificial Corundum Market 2024

Artificial Corundum Market Size in Eastern Asia

In 2021, the East Asian artificial corundum market decreased by -22.5% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption saw a slight decrease. The growth pace was the most rapid in 2016 when the market value increased by 9.1%. Over the period under review, the market hit record highs at $X in 2020, and then dropped notably in the following year.

Artificial Corundum Production in Eastern Asia

In value terms, artificial corundum production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 9.1%. Over the period under review, production hit record highs at $X in 2020, and then fell modestly in the following year.

Artificial Corundum Exports

Exports in Eastern Asia

After three years of decline, overseas shipments of artificial corundum increased by 54% to X tons in 2021. Total exports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% 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 when exports increased by 80%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

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

Exports by Country

China dominates exports structure, finishing at X tons, which was approx. 97% of total exports in 2021. South Korea (X tons) took a little 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 Eastern Asia, 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 ($X) remains the largest artificial corundum supplier in Eastern Asia, comprising 96% of total exports. The second position in the ranking was taken by South Korea ($X), with a 1.3% share of total exports.

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

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, jumping by 31% against the previous year. Export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.0% 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 +79.4% 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 Eastern Asia

In 2021, purchases abroad of artificial corundum was finally on the rise to reach 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. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, artificial corundum imports surged to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Japan was the main importer of artificial corundum in Eastern Asia, with the volume of imports accounting for X tons, which was near 57% of total imports in 2021. South Korea (X tons) took the second position in the ranking, distantly followed by Taiwan (Chinese) (X tons). All these countries together took approx. 41% share of total imports. China (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +8.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of imports in 2021, with a combined 92% share of total imports.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +5.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, surging by 4% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 24% against the previous year. 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.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($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 (+15.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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