Global Corundum Market: Overview
Corundum is considered a crystalline form of aluminum oxide (Al
2O). It typically contains traces of vanadium, chromium, iron, and titanium. It is also a rock-forming mineral. Corundum is a naturally transparent material, which exhibits different colors when impurities are intermixed in the mineral. Impurities include the presence of transition metals in the crystal structure of corundum. According to the Mohr’s scale of hardness, pure corundum has hardness of 9.0. It is considered one of the durable gemstones.
Global Corundum Market: Key Segments
The corundum market can be segmented based on type, application, and region. Corundum is available in all the colors of the rainbow; however, it is commonly found as opaque crystal with dull color. Based on type, the corundum market can be classified into emery (black), Padparadschah (pink and orange variety of sapphire), ruby (pink or red), green sapphire, blue sapphire, star ruby, and star sapphire, and others. Red corundum is called ruby, blue corundum is called sapphire, while all other colors are called fancy sapphires. Some varieties of corundum fluoresce under short wave and long wave UV light if there is enough chromium in the crystal structure but little iron, which tends to quench any emitted energy. Corundum can also be used in the preparation of ornaments. Apart from ornaments, synthetic corundum is also used to produce mechanical parts (tubes, bearings, rods, and other machined parts), scratch-resistant optics, scratch-resistant watch crystals, instrument windows for satellites and spacecraft (because of its transparency in the ultraviolet to infrared range), and laser components. It is also used in construction for sand blasting, grinding, and plunge cutting applications.
Corundum is one of the hardest known mineral after diamond. Artificial corundum can be manufactured as a specialty product. It can be obtained by slow accretion and controlled growth on a boule in an ox-hydrogen flame, particularly known as the Verneuil process.
One of the major restraints of corundum market is in displaying the stone's vibrancy, the cut of sapphires and rubies is not as critical as that for diamond. Zoning is caused to the corundum if it is not appropriately. It would ultimately loose it luster, thereby making it dull. Corundum is a capital intensive business. Corundum also requires polish. Thus, new technologies and innovations are emerging to improvise the quality of corundum and lower its costs.
In terms of region, North America constitutes major share of the corundum market. Demand for artificial corundum market is high in the region due to its lack of natural occurrence. Changing lifestyle and attraction toward precious gemstones have boosted the demand for corundum market. Europe also accounts for large share in terms of demand for the mineral. Demand for corundum is especially high in Germany, Turkey, France, and the U.K. China is a major manufacturer and consumer of artificial corundum in Asia Pacific. India, Thailand, South Korea, and Japan are the key manufacturers of corundum in the region. Natural corundum is mined in several countries such as India, Australia, Myanmar, Japan, Cambodia, Sri Lanka, and Papua New Guinea in Asia Pacific. Of late, countries in Africa have been producing corundum in large quantities. Madagascar, Tanzania, and South Africa have rich reserves of corundum. The usage of corundum is anticipated to increase in countries in the Middle East and Latin America in the near future.
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Global Corundum Market: Key Players
Key players operating in the corundum market include Alteo Alumina Riken Corundum Co. Ltd., Swarovski Gemstones, Henge Group, and K.A. Refractories Co. Ltd., Zhongtian Special Alumina Co., Ltd, Retek LTD, Xinyang Jinbo Abrasives Co., Ltd., Rock & Gem company Ltd., and others.
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