What are the Historical Developments and Current Growth Metrics of the Corundum Market?
The corundum market has seen considerable growth due to a variety of factors.
• The corundum market has grown steadily in recent years. It is expected to increase from $2.64 billion in 2024 to $2.8 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.0%.
This growth is driven by industrialization, the expansion of the electronics industry, higher disposable income, the increasing demand for industrial materials and luxury goods, and sustainable practices supported by regulatory policies.
What is the Forecasted Market Size and CAGR for the Corundum Market?
The corundum market is expected to maintain its strong growth trajectory in upcoming years.
• The corundum market is expected to reach $3.49 billion by 2029, growing at a CAGR of 5.7%.
This growth is due to rising demand for electronics, sustainable mining practices, use in abrasives, the growing popularity of colored gemstones, and increased investment in renewable energy. Key trends include expanding medical applications, advancements in synthetic corundum production, the popularity of lab-created gemstones, greater R&D investment, and innovations in manufacturing.
What Key Factors and Trends Are Driving The Growth Corundum Market?
The rising demand for gemstones is expected to drive the growth of the corundum market. As consumer interest in luxury and personalized jewelry grows, the demand for gemstones, particularly ruby and sapphire, is increasing. These gemstones are highly valued for their hardness, vibrant colors, and durability. According to Rapaport USA Inc, Russia’s diamond production in 2022 reached 41.9 million carats, reflecting the strong demand for gemstones and driving the growth of the corundum market.
What Are The Market Segments In The Corundum Market?
The corundum market covered in this report is segmented –
1) By Type: Brown Fused Alumina, White Fused Alumina, Other Types
2) By Variety: Emery, Ruby, Sapphire
3) By Application: Jewelry, Abrasive, Refractory, Mineral, Electrical And Electronics, Other Applications
Subsegments:
1) By Brown Fused Alumina: Standard Brown Fused Alumina, High-Grade Brown Fused Alumina, Super Fine Brown Fused Alumina
2) By White Fused Alumina: Standard White Fused Alumina, High-Grade White Fused Alumina, Microfine White Fused Alumina
3) By Other Types: Tabular Alumina, High-Alumina Content Corundum, Black Fused Alumina, Pink Fused Alumina, Specialty Corundum Blends
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How Are New Trends Impacting The Size Of The Corundum Market?
Companies in the corundum market are offering high-tech gem testing laboratories to provide more cost-effective and accessible gem testing services. For instance, in February 2023, GGTL Laboratories, a Switzerland-based gemology lab, opened the GGTL Gemlab in Antwerp. This facility utilizes advanced technology for accurate analysis and verification of melee-sized gemstones, including sapphires and rubies.
Who Are the Key Players In The Corundum Market?
Major companies operating in the corundum market are:
• Compagnie de Saint-Gobain S.A
• IMERYS S.A.
• Swarovski AG
• Mirka Abrasives Inc.
• Asahi Diamond Industrial
• H.C. Starck
• Washington Mills
• Almatis
• RIKEN Corundum
• Norton Abrasives
• Fujimi Corporation
• Starsgem Co. Ltd
• Zhengzhou Sunrise Technology
• HENGE Services GmbH
• Huber GmbH & Co. KG
• THAI TECH SAPPHIRE CO. LTD.
• Anda Tool And Fastener
• Kuhmichel Abrasiv GmbH
• RuiShi Group
• Eurotungstene Poudres SAS
• LD International Abrasives
What Are The Regional Insights Into The Corundum Market?
Asia-Pacific was the largest region in the corundum market in 2024. The regions covered in the corundum market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
