Asia-Pacific: Artificial Corundum Market 2024

Artificial Corundum Market Size in Asia-Pacific

The Asia-Pacific artificial corundum market rose remarkably to $X in 2023, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when the market value increased by X% against the previous year. Over the period under review, the market reached the peak level in 2023 and is likely to see steady growth in years to come.

Artificial Corundum Production in Asia-Pacific

In value terms, artificial corundum production expanded markedly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Artificial Corundum Exports

Exports in Asia-Pacific

In 2023, exports of artificial corundum in Asia-Pacific dropped to X tons, waning by X% on the previous year. Total exports indicated a slight increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, artificial corundum exports fell notably to $X in 2023. Overall, exports, however, posted measured growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2022, and then shrank notably in the following year.

Exports by Country

China prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2023. South Korea (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest artificial corundum supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports.

In China, artificial corundum exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, dropping by X% against the previous year. Export price indicated a temperate expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2022, and then dropped dramatically in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while South Korea totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%).

Artificial Corundum Imports

Imports in Asia-Pacific

In 2023, after two years of growth, there was significant decline in overseas purchases of artificial corundum, when their volume decreased by X% to X tons. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2022, and then declined in the following year.

In value terms, artificial corundum imports shrank rapidly to $X in 2023. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then contracted rapidly in the following year.

Imports by Country

The countries with the highest levels of artificial corundum imports in 2023 were Japan (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons), together resulting at X% of total import. India (X tons) ranks next in terms of the total imports with a X% share, followed by Thailand (X%). The following importers - Indonesia (X tons) and Australia (X tons) - each recorded a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. India, Thailand, Indonesia and Australia lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, 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 2023, the import price in Asia-Pacific amounted to $X per ton, dropping by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2022, and then fell in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in India ($X per ton) and Thailand ($X per ton), while Taiwan (Chinese) ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform