Latin America and the Caribbean: Artificial Corundum Market 2024

Artificial Corundum Market Size in Latin America and the Caribbean

In 2021, the Latin American artificial corundum market increased by 22% to $X, rising for the third consecutive year after four years of decline. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Artificial Corundum Production in Latin America and the Caribbean

In value terms, artificial corundum production rose significantly to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 13% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Artificial Corundum Exports

Exports in Latin America and the Caribbean

In 2021, after two years of decline, there was growth in shipments abroad of artificial corundum, when their volume increased by 5% to X tons. In general, exports, however, showed a pronounced downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 71%. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, artificial corundum exports rose modestly to $X in 2021. Over the period under review, exports, however, continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by 98%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Brazil (X tons) represented the largest exporter of artificial corundum in Latin America and the Caribbean, generating 98% of total export.

Brazil was also the fastest-growing in terms of the artificial corundum exports, with a CAGR of +6.7% from 2012 to 2021. Brazil (+63 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) also remains the largest artificial corundum supplier in Latin America and the Caribbean.

In Brazil, artificial corundum exports increased at an average annual rate of +3.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by -2.5% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 68% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell slightly in the following year.

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

From 2012 to 2021, the rate of growth in terms of prices for Brazil amounted to -3.2% per year.

Artificial Corundum Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of artificial corundum was finally on the rise to reach X tons after five years of decline. In general, imports, however, recorded a mild descent. The pace of growth was the most pronounced in 2014 when imports increased by 108%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, artificial corundum imports surged to $X in 2021. Total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Mexico (X tons) and Brazil (X tons) represented the major importers of artificial corundum in 2021, recording near 46% and 32% of total imports, respectively. It was distantly followed by Argentina (X tons), mixing up a 13% share of total imports. Colombia (X tons) and Peru (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mexico (with a CAGR of +6.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 92% share of total imports.

Mexico, with a CAGR of +5.4%, saw the highest rates of growth with regard to the value of imports, among 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 Latin America and the Caribbean amounted to $X per ton, increasing by 8.1% against the previous year. Import price indicated a tangible increase 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 import price increased by +99.4% against 2016 indices. The growth pace was the most rapid in 2018 an increase of 37%. Over the period under review, import prices attained the peak figure in 2021 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Brazil ($X per ton) and Colombia ($X per ton), while Peru ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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