The import of artificial corundum to Australia has shown fluctuations over the past decade with a notable decline in recent years. The import volume stood at 2.8964 million kilograms in 2023, marking a slight year-on-year decrease of 2.21% from 2022. The last five years exhibited a moderate contraction with a CAGR of -2.82%. From 2024 onwards, the forecasted data predicts a continued decline, culminating in a volume of 2.5541 million kilograms by 2028, with a forecasted 5-year CAGR of -1.99%, reflecting an overall reduction of 9.57%.
Future trends to watch for include:
- Potential shifts in global supply chains affecting availability and costs
- Technological advancements impacting production and import requirements
- Regulatory changes influencing trade dynamics
- Sustainable and eco-friendly alternatives gaining market share
