Report Update Nov 1, 2024

Philippines - Artificial Corundum - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Artificial Corundum Market 2024

Artificial Corundum Market Size in the Philippines

In 2021, the Philippine artificial corundum market increased by 229% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption saw resilient growth. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Artificial Corundum Exports

Exports from the Philippines

In 2021, shipments abroad of artificial corundum decreased by -8.8% to X tons, falling for the third consecutive year after two years of growth. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 102% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, artificial corundum exports fell to $X in 2021. Over the period under review, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 271%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for artificial corundum exports from the Philippines, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China stood at -9.2%.

In value terms, China ($X) also remains the key foreign market for artificial corundum exports from the Philippines.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +9.2%.

Export Prices by Country

The average artificial corundum export price stood at $X per ton in 2021, with a decrease of -2.3% against the previous year. Overall, the export price, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2016 an increase of 104% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for South Korea amounted to +21.7% per year.

Artificial Corundum Imports

Imports into the Philippines

In 2021, after two years of decline, there was significant growth in purchases abroad of artificial corundum, when their volume increased by 233% to X tons. In general, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, artificial corundum imports surged to $X in 2021. Overall, imports saw a strong increase. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest artificial corundum supplier to the Philippines, accounting for a 84% share of total imports. Moreover, artificial corundum imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+26.9% per year) and South Korea (+15.8% per year).

In value terms, China ($X) constituted the largest supplier of artificial corundum to the Philippines, comprising 72% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with an 8.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+36.4% per year) and South Korea (+6.8% per year).

Import Prices by Country

The average artificial corundum import price stood at $X per ton in 2021, with a decrease of -3.3% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.3% 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 decreased by -12.0% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of 37%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 Hong Kong SAR ($X per ton), while the price for South Korea ($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 (+10.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for artificial corundum in the world?

China constituted the country with the largest volume of artificial corundum consumption, accounting for 25% of total volume. Moreover, artificial corundum consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was occupied by Brazil, with a 5.7% share.

What are the largest producers of artificial corundum in the world?

The country with the largest volume of artificial corundum production was China, comprising approx. 43% of total volume. Moreover, artificial corundum production in China exceeded the figures recorded by the second-largest producer, India, fivefold. The third position in this ranking was occupied by Brazil, with a 6% share.

What are the leading suppliers of artificial corundum to the Philippines?

In value terms, China constituted the largest supplier of artificial corundum to the Philippines, comprising 54% of total imports. The second position in the ranking was occupied by Hong Kong SAR, with an 18% share of total imports. It was followed by Japan, with a 6.5% share.

What are the leading importers of artificial corundum from the Philippines?

In value terms, China remains the key foreign market for artificial corundum exports from the Philippines, comprising 94% of total exports. The second position in the ranking was occupied by Taiwan Chinese), with a 5.9% share of total exports.

What is the average export price for artificial corundum in the Philippines?

In 2021, the average artificial corundum export price amounted to $7,165 per ton, falling by -9.1% against the previous year.

What is the average import price for artificial corundum in the Philippines?

The average artificial corundum import price stood at $961 per ton in 2021, shrinking by -3.1% against the previous year.

This report provides an in-depth analysis of the artificial corundum market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23991500 - Artificial corundum (excluding mechanical mixtures)

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023