Scandinavia: Artificial Corundum Market 2024

Artificial Corundum Market Size in Scandinavia

The Scandinavia artificial corundum market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Artificial Corundum Production in Scandinavia

In value terms, artificial corundum production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production recorded a notable increase. The pace of growth was the most pronounced in 2016 when the production volume increased by 123%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Artificial Corundum Exports

Exports in Scandinavia

In 2021, the amount of artificial corundum exported in Scandinavia soared to X tons, with an increase of 383% against 2020. Over the period under review, exports recorded a remarkable increase. 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. In general, exports posted a strong increase. The pace of growth appeared the most rapid in 2019 when exports increased by 477% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Denmark (X tons) represented the key exporter of artificial corundum, making up 82% of total exports. It was distantly followed by Sweden (X tons), constituting a 12% share of total exports. Finland (X tons) and Norway (X tons) followed a long way behind the leaders.

Denmark was also the fastest-growing in terms of the artificial corundum exports, with a CAGR of +31.8% from 2012 to 2021. Sweden (-4.8%), Finland (-5.3%) and Norway (-7.6%) illustrated a downward trend over the same period. While the share of Denmark (+63 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Norway (-7.9 p.p.), Finland (-14.6 p.p.) and Sweden (-40.4 p.p.) displayed negative dynamics.

In value terms, Denmark ($X) remains the largest artificial corundum supplier in Scandinavia, comprising 86% of total exports. The second position in the ranking was held by Sweden ($X), with an 8.6% share of total exports. It was followed by Finland, with a 2.7% share.

In Denmark, artificial corundum exports increased at an average annual rate of +32.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (-1.0% per year) and Finland (-6.5% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, waning by -11.9% against the previous year. In general, the export price, however, saw a moderate expansion. The growth pace was the most rapid in 2019 an increase of 94%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+4.0%), while the other leaders experienced more modest paces of growth.

Artificial Corundum Imports

Imports in Scandinavia

In 2021, approx. X tons of artificial corundum were imported in Scandinavia; jumping by 27% compared with the year before. The total import volume increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, artificial corundum imports surged to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden (X tons) and Finland (X tons) represented roughly 80% of total imports in 2021. Denmark (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Norway (8.2%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Norway (with a CAGR of +7.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest artificial corundum importing markets in Scandinavia were Finland ($X), Sweden ($X) and Denmark ($X), together comprising 94% of total imports. These countries were followed by Norway, which accounted for a further 6%.

Norway, with a CAGR of +7.8%, saw 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

The import price in Scandinavia stood at $X per ton in 2021, surging by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 when the import price increased by 12%. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Finland ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform