Corundum Market Size, Opportunities, Company Profile, Developments and Outlook 2027
The report also helps in understanding Corundum Market Dynamics, structure by analyzing the market segments and projects the Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Corundum Market make the report investor’s.
Corundum Market was valued at US$ 2.25 Bn. in 2021. The Global Corundum Market size is estimated to grow at a CAGR of 4.2 % over the forecast period.
Corundum Market Overview:
The Corundum Market report gives a full view of the competition, including the market share and company records of the major competitors in the worldwide industry. The scope of the research includes a comprehensive analysis of the Corundum Market , as well as the reasons for variations in the industry's growth in a number of areas.
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Market Scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The report's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and segment breakdowns are calculated using weights allocated to each segment based on their utilization rate and average sale price. The percentage adoption or usage of the given market Size in the corresponding area or nation is used to calculate the country-wise splits of the overall market and its sub-segments.
Segmentation:
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.
Key Players:
• Gemfields
• Guangxi Wuzhou City Yihe Jewelry
• Henan Sicheng
• Henge
• HK Fengqi Jewelry
• Zhengzhou Sunrise Technology
• LD International Abrasives
• Rusal
• Stars Gem
• Riken Corundum
• Swarovski Gemstone
Secondary research is used to identify market leaders, while primary and secondary research is used to establish market revenue. Secondary research comprised a review of the leading manufacturers' annual and financial reports, whilst primary research included thorough interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are used to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then validated using primary sources.
The biggest players in the Corundum Market are as follows:
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Regional Analysis:
Individual market influencing components and changes in market legislation that affect current and future market trends are also covered in the Corundum Market study's regional overview. Current and future trends are investigated in order to analyze the overall market potential and find profitable patterns in order to get a more firm footing. The geographical market evaluation is based on the current environment and anticipated trends.
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COVID-19 Impact Analysis on Corundum Market :
Due to a hiatus in operations, end-user sectors where Corundum Market are used had a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, Spain, France, and India. This resulted in a major fall in the revenues of firms in these industries, as well as in demand for Corundum Market manufacturers, impacting the growth of the Corundum Market in 2020. End-user business demand for Corundum Market has dropped dramatically as a result of lockdowns and a surge in COVID-19 occurrences throughout the world.
Key Questions Answered in the Corundum Market Report are:
- In 2021, which segment accounted for the most share of the Corundum Market ?
- What is the competitive landscape of the Corundum Market ?
- What are the key factors influencing Corundum Market growth?
- In the Corundum Market , which region has the most market share?
• What will be the CAGR of the Corundum Market during the forecast period (2022-2027)?
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