Corundum Market to Grow at 4.2% CAGR, Reaching USD 2.43 Bn by 2023
The Corundum market is experiencing steady growth driven by its diverse industrial applications and unique properties as a hard and durable mineral. Corundum, primarily known for its gemstone varieties sapphire and ruby, is also widely used in various industrial applications such as abrasives, refractories, ceramics, and electronics. Its high hardness, heat resistance, and chemical stability make it indispensable in industries requiring materials with exceptional wear resistance and thermal properties. The market's growth is further supported by technological advancements in processing techniques and increasing demand from sectors like automotive, aerospace, and electronics.
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