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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Corundum Market size was valued at US$ 3,621.2 million in 2023 and is poised to grow at a CAGR of 6.4% from 2024 to 2030. The corundum market, encompassing the dazzling world of rubies and sapphires alongside the workhorse industrial corundum (emery), is driven by a confluence of economic, technological, and social factors. While gemstones dominate the headlines, industrial corundum plays a vital role in various sectors. Its exceptional hardness makes it a valuable abrasive material, used in grinding, polishing, and sandblasting applications. With increasing industrial activity globally, the demand for high-performance abrasives is expected to remain steady. Furthermore, corundum's high melting point makes it ideal for refractory materials used in furnace linings and other high-heat applications. As industries strive for energy efficiency, the demand for advanced refractory materials is likely to rise, further driving the corundum market.
Moreover, consumers are increasingly concerned about the ethical sourcing of gemstones. Sustainability practices and responsible mining methods are becoming crucial factors influencing purchasing decisions. Regions with robust regulations and a commitment to minimizing environmental impact will likely see a premium placed on their corundum. Furthermore, traceability and transparency in the supply chain are gaining importance. Consumers want to know the origin of their gemstones, ensuring ethical practices are followed throughout the mining and processing stages. This trend will push the industry towards adopting stricter ethical standards, impacting production and trade dynamics. However, corundum deposits are not evenly distributed globally. Major producers like India and China dominate the market, while other regions struggle to establish a significant presence. This reliance on a few key players creates a vulnerability to supply chain disruptions.
Study Period
2024-2030Base Year
2023CAGR
6.4%Largest Market
North AmericaFastest Growing Market
Asia Pacific
Undoubtedly, the primary driver of the corundum market lies in its role as a gemstone. Rubies and sapphires, coveted for their brilliance and rarity, have held a place of fascination for centuries. This enduring appeal translates to a robust and ever-growing demand for high-quality gemstones in the jewelry sector. Fueling this demand is the rise of the global affluent class, particularly in emerging economies like China and India. Increased disposable income translates to a growing desire for luxury goods, including exquisite gemstone jewelry. This trend is expected to continue, propelling the demand for corundum in the forecast period. Moreover, technological advancements are a double-edged sword for the corundum market. On one hand, they lead to the discovery of new deposits and more efficient mining techniques, potentially increasing supply. For instance, advancements in satellite imaging and ground exploration tools can identify previously unknown corundum resources. Also, on the other hand, technology can create substitutes that threaten corundum's dominance in certain applications. Synthetic gemstones, lab-grown with similar properties to natural stones, are becoming increasingly sophisticated and affordable. Similarly, advancements in abrasive materials may lead to the development of more cost-effective alternatives.
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 3,621.2 million |
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Market CAGR |
6.4% |
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By Type |
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By Application |
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By Region |
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The Asia Pacific is the fastest growing region in the Corundum Market
The Asia Pacific is dominating the corundum market.
The leading players in the Corundum Market are RUSAL, Retek LTD, Henge Group, Riken Corundum Co. Ltd., K.A. Refractories Co. Ltd., Rock & Gem company Ltd., Zibo Jinjiyuan Abrasives Co., Ltd., Xinyang Jinbo Abrasives Co. Ltd., Zhongtian Special Alumina Co., Ltd, Alteo Alumina Riken Corundum Co. Ltd., and Mineralmühle Leun, Rau GmbH & Co. KG.
Historic years considered for the market study are 2019 to 2022, 2023 is considered as the base year for market estimation and the forecast presented from 2024 to 2030.
| 1. Executive Summary |
| 2. Global Corundum Market Introduction |
| 2.1. Global Corundum Market - Taxonomy |
| 2.2. Global Corundum Market - Definitions |
| 2.2.1. Type |
| 2.2.2. Application |
| 2.2.3. Region |
| 3. Global Corundum Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Key Developments |
| 4. Global Corundum Market By Type, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 4.1. Emery |
| 4.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 4.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 4.1.3. Market Opportunity Analysis |
| 4.2. Sapphire |
| 4.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 4.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 4.2.3. Market Opportunity Analysis |
| 4.3. Ruby |
| 4.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 4.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 4.3.3. Market Opportunity Analysis |
| 5. Global Corundum Market By Application, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 5.1. Abrasive |
| 5 1 1 Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Jewelry |
| 5.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Refractory |
| 5.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Electrical and Electronics |
| 5.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Mineral |
| 5.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Others |
| 5.6.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 6. Global Corundum Market By Region, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 6.1. North America |
| 6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Europe |
| 6.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Asia Pacific |
| 6.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Latin America |
| 6.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. MEA |
| 6.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Global Corundum Market - Opportunity Analysis Index, By Application, 2019-2023 and Region, 2024-2030 |
| 7. North America Corundum Market, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 7.1. Type Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 7.1.1. Emery |
| 7.1.2. Sapphire |
| 7.1.3. Ruby |
| 7.2. Application Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 7.2.1. Abrasive |
| 7.2.2. Jewelry |
| 7.2.3. Refractory |
| 7.2.4. Electrical and Electronics |
| 7.2.5. Mineral |
| 7.2.6. Others |
| 7.3. Country Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 7.3.1. USA |
| 7.3.2. Canada |
| 8. Europe Corundum Market, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 8.1. Type Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Emery |
| 8.1.2. Sapphire |
| 8.1.3. Ruby |
| 8.2. Application Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1. Abrasive |
| 8.2.2. Jewelry |
| 8.2.3. Refractory |
| 8.2.4. Electrical and Electronics |
| 8.2.5. Mineral |
| 8.2.6. Others |
| 8.3. Country Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1. Germany |
| 8.3.2. France |
| 8.3.3. Italy |
| 8.3.4. Spain |
| 8.3.5. UK |
| 8.3.6. Rest of Europe |
| 9. Asia Pacific Corundum Market, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 9.1. Type Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Emery |
| 9.1.2. Sapphire |
| 9.1.3. Ruby |
| 9.2. Application Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Abrasive |
| 9.2.2. Jewelry |
| 9.2.3. Refractory |
| 9.2.4. Electrical and Electronics |
| 9.2.5. Mineral |
| 9.2.6. Others |
| 9.3. Country Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1. China |
| 9.3.2. Japan |
| 9.3.3. South Korea |
| 9.3.4. India |
| 9.3.5. Rest of APAC |
| 10. Latin America Corundum Market, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 10.1. Type Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Emery |
| 10.1.2. Sapphire |
| 10.1.3. Ruby |
| 10.2. Application Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Abrasive |
| 10.2.2. Jewelry |
| 10.2.3. Refractory |
| 10.2.4. Electrical and Electronics |
| 10.2.5. Mineral |
| 10.2.6. Others |
| 10.3. Country Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1. Brazil |
| 10.3.2. Mexico |
| 10.3.3. Argentina |
| 10.3.4. Rest of Latin America |
| 11. MEA Corundum Market, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 11.1. Type Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Emery |
| 11.1.2. Sapphire |
| 11.1.3. Ruby |
| 11.2. Application Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Abrasive |
| 11.2.2. Jewelry |
| 11.2.3. Refractory |
| 11.2.4. Electrical and Electronics |
| 11.2.5. Mineral |
| 11.2.6. Others |
| 11.3. Country Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1. GCC Countries |
| 11.3.2. South Africa |
| 11.3.3. Rest of MEA |
| 12. Competition Landscape |
| 12.1. Strategic Dashboard of Top Market Players |
| 12.2. Company Profiles (Introduction, Financial Analysis, By Product Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 12.2.1. Xinyang Jinbo Abrasives Co. Ltd. |
| 12.2.2. Retek LTD |
| 12.2.3. RUSAL |
| 12.2.4. Riken Corundum Co. Ltd. |
| 12.2.5. Rock & Gem company Ltd. |
| 12.2.6. Alteo Alumina Riken Corundum Co. Ltd. |
| 12.2.7. Henge Group |
| 12.2.8. Mineralmühle Leun, Rau GmbH & Co. KG |
| 12.2.9. Zibo Jinjiyuan Abrasives Co., Ltd. |
| 12.2.10. Zhongtian Special Alumina Co., Ltd |
| 12.2.11. K.A. Refractories Co. Ltd. |
| 13. Research Methodology |
| 14. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.