Spain: Artificial Corundum Market 2024

Artificial Corundum Market Size in Spain

The Spanish artificial corundum market rose sharply to $X in 2021, increasing by 6.2% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Artificial corundum consumption peaked in 2021 and is expected to retain growth in years to come.

Artificial Corundum Production in Spain

In value terms, artificial corundum production dropped remarkably to $X in 2021 estimated in export price. Overall, the total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +25.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 51% against the previous year. As a result, production attained the peak level of $X, and then contracted significantly in the following year.

Artificial Corundum Exports

Exports from Spain

In 2021, the amount of artificial corundum exported from Spain reduced to X tons, dropping by -8.8% on 2020. In general, exports showed a deep contraction. The pace of growth appeared the most rapid in 2013 with an increase of 25%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, artificial corundum exports rose sharply to $X in 2021. Overall, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 51% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Portugal (X tons), France (X tons) and Germany (X tons) were the main destinations of artificial corundum exports from Spain, with a combined 49% share of total exports. Mexico, Algeria, Cuba, Sri Lanka, Italy, Brazil and Morocco lagged somewhat behind, together comprising a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Algeria (with a CAGR of +193.2%), while the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), Germany ($X) and France ($X) were the largest markets for artificial corundum exported from Spain worldwide, with a combined 43% share of total exports. Italy, Mexico, Algeria, Brazil, Sri Lanka, Cuba and Morocco lagged somewhat behind, together comprising a further 38%.

In terms of the main countries of destination, Algeria, with a CAGR of +228.3%, 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

The average artificial corundum export price stood at $X per ton in 2021, jumping by 20% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2013 an increase of 21% against the previous year. The export price peaked at $X per ton in 2019; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Portugal ($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 Algeria (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Artificial Corundum Imports

Imports into Spain

In 2021, the amount of artificial corundum imported into Spain surged to X tons, jumping by 70% against 2020 figures. The total import volume increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, artificial corundum imports soared to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), France (X tons) and Russia (X tons) were the main suppliers of artificial corundum imports to Spain, with a combined 64% share of total imports. These countries were followed by Italy, Germany, Bahrain and Brazil, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bahrain (with a CAGR of +102.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), China ($X) and Germany ($X) constituted the largest artificial corundum suppliers to Spain, with a combined 63% share of total imports. Russia, Italy, Brazil and Bahrain lagged somewhat behind, together accounting for a further 26%.

Bahrain, with a CAGR of +98.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average artificial corundum import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 21% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

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 Germany ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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