South-Eastern Asia: Artificial Corundum Market 2024

Artificial Corundum Market Size in South-Eastern Asia

The Southeast Asian artificial corundum market shrank markedly to $X in 2023, waning by X% against the previous year. In general, consumption continues to indicate a pronounced curtailment. The level of consumption peaked at $X in 2015; however, from 2016 to 2023, consumption stood at a somewhat lower figure.

Artificial Corundum Production in South-Eastern Asia

In value terms, artificial corundum production shrank to $X in 2023 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, production attained the peak level of $X. From 2016 to 2023, production growth remained at a somewhat lower figure.

Artificial Corundum Exports

Exports in South-Eastern Asia

In 2023, overseas shipments of artificial corundum increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. Overall, exports saw a measured increase. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, artificial corundum exports soared to $X in 2023. Over the period under review, exports showed a pronounced expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in years to come.

Exports by Country

Malaysia represented the major exporter of artificial corundum in South-Eastern Asia, with the volume of exports resulting at X tons, which was near X% of total exports in 2023. Thailand (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (X%) and Singapore (X%).

From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Thailand ($X) remains the largest artificial corundum supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

In Thailand, artificial corundum exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then shrank sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Artificial Corundum Imports

Imports in South-Eastern Asia

In 2023, imports of artificial corundum in South-Eastern Asia shrank to X tons, with a decrease of X% on 2022 figures. Over the period under review, imports continue to indicate a perceptible decrease. The pace of growth was the most pronounced in 2013 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, artificial corundum imports reduced notably to $X in 2023. In general, imports saw a mild downturn. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Thailand (X tons) represented the major importer of artificial corundum, achieving X% of total imports. Indonesia (X tons) ranks second in terms of the total imports with a X% share, followed by Vietnam (X%) and Malaysia (X%). The following importers - the Philippines (X tons) and Singapore (X tons) - each reached a X% share of total imports.

Imports into Thailand decreased at an average annual rate of X% from 2012 to 2023. At the same time, Malaysia (X%), the Philippines (X%), Singapore (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. Vietnam experienced a relatively flat trend pattern. Indonesia (X p.p.), Vietnam (X p.p.), Malaysia (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total imports, while Thailand saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported artificial corundum in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Thailand totaled X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2023, the import price in South-Eastern Asia amounted to $X per ton, dropping by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform