Corundum Market- Growth, Trends, Challenges, Competitive Landscape, Opportunities and Forecasts (2024-2030)

The Corundum Market was valued at US$ 2.43 Bn. in 2023. The Global Corundum Market size is estimated to grow at a CAGR of 4.2 % over the forecast period.

Corundum Market Overview:

Corundum is aluminum oxide, the hardest mineral after diamond. It is used in polishing metal and optical glass and also used in the production of grindstones and sandpapers. Because of its hardness, it can score other minerals also. The market volume in 2021 is 925.1 kilotons, and is expected to reach at 1378.9 kilotons in 2029. The report explores the Corundum market's segments (Type, Application, and Region). Data has been provided by market participants and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2023. The report investigates the Corundum market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Corundum market's contemporary competitive scenario.Corundum MarketTo know about the Research Methodology :- Request Free Sample Report

Corundum Market Dynamics:

Corundum is a crystalline form of aluminum oxide. It comes in every color of the rainbow but is mostly found as opaque crystal with dull colors. Ruby comes in red, sapphire comes in blue, and other fancy crystal comes in every color. Pure corundum is colorless. Corundum is valued according to its color and clarity. Cuts and sizes these factors also play a vital role in the pricing strategies. Whereas corundum is also used in various applications like in the jewelry industry, it plays a vital role in the jewelry industry with the highest sale revenue in the global market. This mineral is also used in the manufacturing of gemstones. And gemstones have the highest demand in the market after diamonds. These factors have driven the growth of the corundum market in the forecasted period. The blue sapphires and red rubies have the highest demand in the market, but for their unique color and uncommon features, padparadscha also has a high demand across the jewelry industry. Which also drives the market growth. Brown corundum also acts as a deburring agent in many applications like grinding, sandblasting, etc., it helps to smoothen and soften the ragged edges. The corundum market has driven the market in the jewelry industry. The price fluctuation of jewelry grade will hamper the market growth of the corundum market because the demand of the customer is highly volatile and also unpredictable as well as highly dynamic. Another factor that is hampering the market is political instability in South African countries. Also, some governments are restricting the country from the exportation of precious stones, which are made up of corundum. Because of that, it is a direct impact on the prices of corundum in the international market. These factors will hamper the growth of the corundum market in the forecasted period. COVID-19 Impact: During COVID-19, many retail and commercial shops have temporarily closed in the entire world. This COVID-19 pandemic has taught people to cut back on unnecessary things and invest in better places. These factors have had a powerful negative impact on the market of corundum and also on its revenue growth which is expected to grow in the forecasted period. During the pandemic, the primary objective of industry is to cut down production costs.

Corundum Market Segment Analysis:

Based on Type, the Corundum Market is segmented into Ruby, Emery, and Sapphire. Ruby segment held the largest market share accounting for 47% in 2023. Ruby corundum is very dense, compact, and lacks gemstone cleavage. It is also one of the hardest natural minerals after diamond. Gem-quality ruby corundum is also quite rare. These factors make both varieties of ruby corundum some of the most highly desired Jewelry stones. In addition, the growing adoption of ruby in Jewelry is boosting segment growth. Based on Application, the Corundum Market is segmented into Jewelry, Abrasive, Refractory, and Minerals. In this segment, the jewelry industry has dominated the market by holding the largest share in the corundum market; corundum is also known as a precious stone after diamond. So, in the jewelry Industry, the corundum has the highest demand in the market, and also increase in disposable income is also driving the corundum market in the jewelry segment.

Regional Insights:

The APAC region held the largest market share accounting for 47% in 2023, and it is expected to witness significant growth at a CAGR of 5% through the forecast period. Because of the highest demand from the countries like China, Japan, and India. These countries are the main users of corundum in the Jewelry industries. Also, the major manufacturer of corundum is India, Korea, Thailand, and Japan. The maximum number of corundum origin from Myanmar, Sri Lanka, and Vietnam. In the southern APAC region, it is also used in electrical and electronic, abrasives and Jewelry. These all factors driving the corundum market in the APAC region during the forecasted period.

Competitive Landscape:

Due to the restriction during the COVID-19 on the need to stay safe at home, get together, and function, the demand for corundum has gone down. The competitors also found it difficult to survive in the market in the last two years. The pharmaceutical sector and the development of antivirus a scenario have removed the strict lockdown, and the world is coming back to the normal life, which has increased the number of events and functions which will promote the corundum market in the forecasted period and also it will create new opportunities for the key players. The objective of the report is to present a comprehensive analysis of the global Corundum Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers. The reports also help in understanding the Corundum Market dynamic and structure by analyzing the market segments and projecting the Corundum Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Corundum Market make the report investor’s guide.

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Corundum Market
Report Coverage Details
Base Year: 2023 Forecast Period: 2024-2030
Historical Data: 2018 to 2023 Market Size in 2023: US $ 2.43 Bn.
Forecast Period 2024 to 2030 CAGR: 4.2% Market Size in 2030: US $ 3.25 Bn.
Segments Covered: by Type Ruby Emery Sapphire
by Application Jewelry Abrasives Refractory Minerals

Global Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Corundum Market, Key Players

1. Alteo Alumina 2. Arotek 3. Bernd Kunze 4. Ceram Intertrade 5. Changzhou Sunai Metallurgical Refractories 6. EK-Company 7. Gemfields 8. Guangxi Wuzhou City Yihe Jewelry 9. Henan Sicheng 10.Henge 11.HK Fengqi Jewelry 12.Zhengzhou Sunrise Technology 13.LD International Abrasives 14.Rusal 15.Stars Gem 16.Riken Corundum 17.Swarovski Gemstone Frequently Asked Questions: 1. Which region has the largest share in Global Corundum Market? Ans: Asia Pacific region held the highest share in 2023. 2. What is the growth rate of Global Corundum Market? Ans: The Global Market is growing at a CAGR of 4.2% during forecasting period 2024-2030. 3. What is scope of the Global Corundum Market report? Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Corundum Market? Ans: The important key players in the Global Market are – Alteo Alumina, Arotek, Bernd Kunze, Ceram Intertrade, Changzhou Sunai Metallurgical Refractories, EK-Company, Gemfields, Guangxi Wuzhou City Yihe Jewelry, Henan Sicheng, Henge, HK Fengqi Jewelry, Zhengzhou Sunrise Technology, LD International Abrasives, Rusal, Stars Gem, Riken Corundum, and Swarovski Gemstone. 5. What is the study period of this Market? Ans: The Global Corundum Market is studied from 2023 to 2030.
1. Corundum Market Size: Research Methodology 2. Corundum Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Corundum Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Corundum Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • The Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Corundum Market Size Segmentation 4.1. Corundum Market Size, by Type (2023-2030) • Ruby • Emery • Sapphire 4.2. Corundum Market Size, by Applications (2023-2030) • Jewelry • Abrasives • Refractory • Minerals 5. North America Corundum Market (2023-2030) 5.1. North America Corundum Market Size, by Type (2023-2030) • Ruby • Emery • Sapphire 5.2. North America Corundum Market Size by Applications (2023-2030) • Jewelry • Abrasives • Refractory • Minerals 5.3. North America Corundum Market, by Country (2023-2030) • The United States • Canada • Mexico 6. European Corundum Market (2023-2030) 6.1. European Corundum Market, by Type (2023-2030) 6.2. European Corundum Market, by Applications (2023-2030) 6.3. European Corundum Market, by Country (2023-2030) • The UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Corundum Market (2023-2030) 7.1. Asia Pacific Corundum Market, by Type (2023-2030) 7.2. Asia Pacific Corundum Market, by Applications (2023-2030) 7.3. Asia Pacific Corundum Market, by Country (2023-2030) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Corundum Market (2023-2030) 8.1. The Middle East and Africa Corundum Market, by Type (2023-2030) 8.2. The Middle East and Africa Corundum Market, by Applications (2023-2030) 8.3. The Middle East and Africa Corundum Market, by Country (2023-2030) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Corundum Market (2023-2030) 9.1. South America Corundum Market, by Type (2023-2030) 9.2. South America Corundum Market, by Applications (2023-2030) 9.3. South America Corundum Market, by Country (2023-2030) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Alteo Alumina 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Swarovski Gemstone 10.3. Company Overview 10.4. Financial Overview 10.5. Presence 10.6. Capacity Portfolio 10.7. Business Strategy 10.8. Recent Developments 10.9. Arotek 10.10. Bernd Kunze 10.11. Ceram Intertrade 10.12. Changzhou Sunai Metallurgical Refractories 10.13. EK-Company 10.14. Gemfields 10.15. Guangxi Wuzhou City Yihe Jewelry 10.16. Henan Sicheng 10.17. Henge 10.18. HK Fengqi Jewelry 10.19. Zhengzhou Sunrise Technology 10.20. LD International Abrasives 10.21. Rusal 10.22. Stars Gem 10.23. Riken Corundum