Middle East: Artificial Corundum Market 2024

Artificial Corundum Market Size in the Middle East

In 2021, the Middle Eastern artificial corundum market increased by 4.8% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 8% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Artificial Corundum Production in the Middle East

In value terms, artificial corundum production dropped modestly to $X in 2021 estimated in export price. Overall, production, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 10% against the previous year. 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 the Middle East

In 2021, shipments abroad of artificial corundum increased by 36% to X tons, rising for the second year in a row after two years of decline. Overall, exports saw a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 114% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, artificial corundum exports surged to $X in 2021. In general, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of 80%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Bahrain dominates exports structure, finishing at X tons, which was near 89% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), creating an 8.6% share of total exports. Turkey (X tons) held a minor share of total exports.

Exports from Bahrain increased at an average annual rate of +20.0% from 2012 to 2021. At the same time, the United Arab Emirates (+42.0%) and Turkey (+26.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +42.0% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates increased by +6.5 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X) remains the largest artificial corundum supplier in the Middle East, comprising 90% of total exports. The second position in the ranking was taken by Turkey ($X), with a 4.8% share of total exports.

In Bahrain, artificial corundum exports increased at an average annual rate of +17.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Turkey (+26.7% per year) and the United Arab Emirates (+30.2% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, increasing by 6% against the previous year. In general, the export price, however, saw a noticeable setback. The pace of growth was the most pronounced in 2018 an increase of 21%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+0.6%), while the other leaders experienced a decline in the export price figures.

Artificial Corundum Imports

Imports in the Middle East

In 2021, approx. X tons of artificial corundum were imported in the Middle East; declining by -6.8% on the previous year. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +14.9% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of 36%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, artificial corundum imports surged to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +54.8% against 2013 indices. The growth pace was the most rapid in 2013 with an increase of 26% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

Turkey represented the key importer of artificial corundum in the Middle East, with the volume of imports accounting for X tons, which was approx. 63% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), Iran (X tons) and Israel (X tons), together making up a 36% share of total imports.

Imports into Turkey increased at an average annual rate of +8.4% from 2012 to 2021. At the same time, the United Arab Emirates (+16.7%) and Israel (+2.5%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +16.7% from 2012-2021. By contrast, Iran (-6.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Turkey increased by +12 and +8.2 percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported artificial corundum in the Middle East, comprising 64% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 22% share of total imports. It was followed by Iran, with a 6.7% share.

In Turkey, artificial corundum imports increased at an average annual rate of +8.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+20.0% per year) and Iran (-5.0% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, jumping by 25% against the previous year. Overall, the import price saw a slight expansion. The most prominent rate of growth was recorded in 2018 when the import price increased by 27%. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Israel ($X per ton) and Turkey ($X per ton), while Iran ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :