Indonesia: Artificial Corundum Market 2024

Artificial Corundum Market Size in Indonesia

In 2021, the Indonesian artificial corundum market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption showed a pronounced increase. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Artificial Corundum Exports

Exports from Indonesia

In 2021, shipments abroad of artificial corundum decreased by -76.7% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, showed a resilient increase. The pace of growth was the most pronounced in 2019 when exports increased by 4,833%. The exports peaked at X tons in 2020, and then dropped sharply in the following year.

In value terms, artificial corundum exports dropped remarkably to $X in 2021. Overall, exports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 3,311%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for artificial corundum exports from Indonesia, accounting for a 74% share of total exports. Moreover, artificial corundum exports to India exceeded the volume sent to the second major destination, Japan (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+8.4% per year) and Australia (-17.4% per year).

In value terms, the largest markets for artificial corundum exported from Indonesia were India ($X), Japan ($X) and Australia ($X), with a combined 92% share of total exports.

In terms of the main countries of destination, Australia, with a CAGR of +2.8%, 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, dropping by -3.4% against the previous year. Overall, the export price continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2017 an increase of 58%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

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 Australia ($X per ton), while the average price for exports to India ($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 (+35.5%), while the prices for the other major destinations experienced mixed trend patterns.

Artificial Corundum Imports

Imports into Indonesia

After three years of decline, supplies from abroad of artificial corundum increased by 20% to X tons in 2021. In general, imports enjoyed a perceptible expansion. The pace of growth was the most pronounced in 2013 with an increase of 432% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, artificial corundum imports skyrocketed to $X in 2021. Over the period under review, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 231%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest artificial corundum supplier to Indonesia, accounting for a 76% share of total imports. Moreover, artificial corundum imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. India (X tons) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+12.5% per year) and India (+70.3% per year).

In value terms, China ($X) constituted the largest supplier of artificial corundum to Indonesia, comprising 71% of total imports. The second position in the ranking was taken by South Korea ($X), with a 20% share of total imports. It was followed by Japan, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+20.5% per year) and Japan (-4.8% per year).

Import Prices by Country

The average artificial corundum import price stood at $X per ton in 2021, surging by 3.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2014 an increase of 57% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

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 the United States ($X per ton), while the price for India ($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 United States (+30.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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