Abrasive Corundum Market Analysis :
Abrasive corundum is a crystal form of alumina used largely in the machining of metals for abrasion. It contains traces of iron, titanium, vanadium, and chromium. It reflects different colors if it contains impurities such as gray, golden-brown, brown, purple, pink, red, orange, yellow, green, blue, and violet. These impurities arise as a result of the presence of transition metals in the crystal structure of corundum. Corundum is an extremely hard material, which is used in various applications such as cutting, polishing, and grinding. Corundum is utilized to produce sandpaper, milling of precision tools, sandblasting, and deburring. Its high melting point makes it a suitable option for use in refractories. Corundum occurs naturally, however, can be synthetically manufactured. In addition, it is used to manufacture bearings in instruments and high-end watches. Additional applications of corundum include the manufacture of devices used at checkout counters based on optical scanning and in light-emitting lasers.
Key drivers of global abrasive corundum market
Rapid urbanization and increase in industrialization have boosted the demand for abrasive corundum, which significantly contributes toward the growth of the global market. Moreover, development of the electronics industry and rise in need for scratch-resistant materials in product manufacturing fuel the market growth. In addition, increase in awareness about this highly durable material along with its high refractive power augments its demand in the refractory industry.
Market scenario: opportunities and challenges
The demand for abrasive corundum is projected to generate significant growth opportunities in the future. Rise in demand for abrasive corundum in the electrical & electronics industry, owing to its enhanced thermal properties is propelling the growth of the global abrasive corundum market. However, high initial cost owing to high expenditure during mining is anticipated to hamper the growth of the abrasive corundum market.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global abrasive corundum market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the output from electronics industry to industrial sector. Declining growth of the electronic industry is one of the key factors that is expected to negatively impact the growth of abrasive corundum market. Moreover, companies are dealing with missing sales and disrupted supply chains as production activities are shutdown. However, Covid-19 pandemic will not have any major impact on the growth of this market, owing to the fact that abrasive corundum is a material confined to specific uses.
Key benefits of the report
- This study presents the analytical depiction of the global abrasive corundum industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global abrasive corundum market share.
- The current market is quantitatively analyzed to highlight the global abrasive corundum market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global abrasive corundum market research report:
- Which are the leading market players active in the abrasive corundum market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Abrasive Corundum Market Report Highlights
Key Market Players
Alteok Scientific Instruments Private Limited, EK-Company GmbH & Company, Ceram Intertrade, Henan Sicheng Company Limited, Mineralmhle Leun, Rau GmbH & Company KG, K.A. Refractories Company Limited, Bernd Kunze GmbH, KG Gemfields, LD International Abrasives Limited