Eastern Europe: Artificial Corundum Market 2024

Artificial Corundum Market Size in Eastern Europe

The East European artificial corundum market shrank to $X in 2021, which is down by -6.9% against the previous year. Over the period under review, consumption continues to indicate a mild decline. The pace of growth appeared the most rapid in 2018 when the market value increased by 8.2% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Artificial Corundum Production in Eastern Europe

In value terms, artificial corundum production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a pronounced decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 7.2%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Artificial Corundum Exports

Exports in Eastern Europe

In 2021, after three years of decline, there was significant growth in overseas shipments of artificial corundum, when their volume increased by 27% to X tons. The total export volume increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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 shipments of the three major exporters of artificial corundum, namely Russia, Hungary and Ukraine, represented more than two-thirds of total export. It was distantly followed by the Czech Republic (X tons), achieving a 4.6% share of total exports. Poland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Russia (with a CAGR of +11.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest artificial corundum supplying countries in Eastern Europe were Russia ($X), Hungary ($X) and Ukraine ($X), together accounting for 90% of total exports. These countries were followed by the Czech Republic and Poland, which together accounted for a further 9.8%.

Poland, with a CAGR of +14.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, surging by 2.9% against the previous year. In general, the export price, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2018 when the export price increased by 8.5%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+14.8%), while the other leaders experienced a decline in the export price figures.

Artificial Corundum Imports

Imports in Eastern Europe

In 2021, supplies from abroad of artificial corundum increased by 7.8% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 23%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, artificial corundum imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when imports increased by 27%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Poland (X tons) and Russia (X tons) were the key importers of artificial corundum in Eastern Europe, together amounting to near 78% of total imports. It was distantly followed by the Czech Republic (X tons), creating a 12% share of total imports. Hungary (X tons), Ukraine (X tons), Slovakia (X tons) and Belarus (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Belarus (with a CAGR of +12.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and the Czech Republic ($X) were the countries with the highest levels of imports in 2021, together accounting for 91% of total imports. Hungary, Ukraine, Belarus and Slovakia lagged somewhat behind, together accounting for a further 7.2%.

Belarus, with a CAGR of +10.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, growing by 14% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 17%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Poland ($X per ton) and Belarus ($X per ton), while the Czech Republic ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+2.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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