Transparency Market Research in its new report titled, “Corundum Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the corundum market. The TMR report anticipates that the new technologies and innovations are emerging to improvise the quality of corundum and lower its costs which will further drive the corundum market during the forecast period i.e, 2018-2026. 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, says the report.
The TMR report has segmented the corundum market 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. In terms of type, the corundum market is 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.
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On a geographical stand, 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.
Some of the major players operating in the corundum market are profiled in this report to give a better competitive landscape and these 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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