Allied Market Research

2024

Corundum Market

Corundum Market Size, Share, Competitive Landscape and Trend Analysis Report by Type and by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

MC : Bulk Chemicals

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Author's: | Eswara Prasad
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Corundum, an aluminum oxide, is one of the hardest minerals known immediately after diamond. You can make artificial corundum as a special item. Slow and controlled growth in the oxyhydrogen torch, also known as the Verneuil method, can produce it. It is also a rock mineral. Corundum is used in the polishing of optical glass and metal, as well as in the production of sandpaper and grindstones. Corundum can scratch most other minerals due to its hardness (pure corundum is defined as having a Mohs hardness of 9.0). It is widely used as an abrasive in a variety of products ranging from sandpaper to large tools used in metal, plastic, and wood machining. Some emery is a combination of corundum and other materials, and the mixture is less abrasive, with an average Mohs hardness of 8.0. Corundum has an unusually high density of 4.02 g/cm3 (251 lb/cu ft.) for a transparent mineral composed of the low-atomic mass elements aluminum and oxygen, in addition to its hardness. The two most common corundum gem varieties are ruby and sapphire. Rubies are red due to the presence of chromium, and sapphires can be a variety of colors depending on which transition metal is present. Padparadscha sapphire is an extremely rare pink-orange sapphire.

COVID-19 Impact analysis

  • Several retail and commercial centers around the world have been temporarily closed due to the recent COVID-19 outbreak. This pandemic has also compelled people to cut back on unnecessary spending and invest wisely. These factors have had a significant negative impact on the global corundum market's revenue growth, and this is expected to continue in the near future.
  • During the pandemic, industry participants are primarily concerned with controlling production costs. A drop in demand and weak economic indicators are forcing vendors to implement cash-saving strategies and cut operational costs. Because of the pandemic, industry-level activities such as corundum extraction and refining have slowed.
  • The downward pressure on the global economy, which had previously shown signs of recovery, has increased. The epidemic's spread has added risk factors to the world economy's already sluggish growth. According to many international organizations, the global economy is in its worst state since the financial crisis. The coronavirus is already causing havoc around the world, and it will have a significant impact on the Corundum market by 2020.

Top Impacting factors

Corundum is widely used scratch resistant windows for electronic instruments, wafers for circuit boards, and so on due to its durability and scratch resistance properties. Furthermore, alumina is one of the most widely used substrates for the growth of thin metal, semiconductor, and insulator films in basic and microelectronic research. Corundum usage is increasing rapidly in the field of electronics, and the increasing applications of corundum in electronic devices is driving market growth. The cut of sapphires and rubies is not as important as that of diamonds in displaying the stone's vibrancy, which is one of the major restraints of the corundum market. If the corundum is not properly zoned, it suffers from zoning. It would eventually lose its luster, making it dull. Corundum is a capital-intensive industry. Corundum also necessitates polishing. As a result, new technologies and innovations are emerging to improve corundum quality while lowering its costs.

Market Trends

Acquisition

  • Product portfolio diversification, technological advancement, acquisitions, and R&D activities are key strategies employed by Corundum market participants.
  • Corundum is a precious stone that is commonly used in jewelry. Corundum minerals contain some of the most valuable precious stones, second only to diamonds in terms of monetary value. In addition to the well-known Red Rubies and Blue Sapphires, rare gemstones such as Padparadschah have seen an increase in demand in the jewelry market due to their unusual color.
  • Because of the increasing number of Coronavirus cases in Brazil, Central and South America are expected to grow at the slowest rate during the forecast period. The region is going through a period of severe economic upheaval. Furthermore, the region is beleaguered by geopolitical tensions in key countries such as Columbia and Venezuela, which stifles regional industrial activity.
  • Due to high demand from countries such as China, Japan, and India, the Asia-Pacific region dominates the global corundum market. India, Thailand, Korea, and Japan are among the major corundum producers. Corundum is also mined in countries such as Sri Lanka, Myanmar, Afghanistan, and Vietnam.

Key Benefits of the Report

  • This study presents the analytical depiction of the 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 corundum market share.
  • The current market is quantitatively analyzed  to highlight the corundum market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed corundum market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the corundum Report

  • Who are the leading market players active in the corundum market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
    • Upcoming Report specific FAQs
      • What is Market prediction in the future?
      • Who are the leading global players in the Corundum Market?
      • What are the current trends and predicted trends?
      • What will be the anticipated growth rates for your own corundum Market economy altogether and also for every segment inside?
      • Which will be the niches at which players profiling with recent advancements should set a presence?

Corundum Market Report Highlights

Aspects Details
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By Type
  • Emery
  • Ruby
  • Sapphire
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By Application
  • Jewelry
  • Abrasive
  • Refractory
  • Mineral
  • Electrical and Electronics
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

Vijay Strand Metals, Parsons & Goltz Diamonds, Inc., Asahi Refining, Indogems, L.E. Waters & Company, Gemfields, Choueifaty & Co USA, Sarin Technologies, De Beers, Southern Gems

Key Market Players

Others

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Corundum Market

Global Opportunity Analysis and Industry Forecast, 2023-2032