ASEAN: Waste Cork Market 2025

Waste Cork Market Size in ASEAN

In 2021, the ASEAN waste cork market decreased by -4% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2020, and then fell slightly in the following year.

Waste Cork Production in ASEAN

In value terms, waste cork production declined to $X in 2021 estimated in export price. The total production indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +36.7% against 2018 indices. The growth pace was the most rapid in 2016 with an increase of 70% against the previous year. The level of production peaked at $X in 2020, and then contracted in the following year.

Waste Cork Exports

Exports in ASEAN

In 2021, after two years of growth, there was significant decline in shipments abroad of waste cork, crushed, granulated or ground cork, when their volume decreased by -64.3% to X tons. Over the period under review, exports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2019 when exports increased by 494% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then declined remarkably in the following year.

In value terms, waste cork exports contracted significantly to $X in 2021. In general, exports, however, posted significant growth. The growth pace was the most rapid in 2019 when exports increased by 502% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then fell notably in the following year.

Exports by Country

The Philippines dominates exports structure, reaching X tons, which was near 84% of total exports in 2021. It was distantly followed by Cambodia (X tons) and Thailand (X tons), together generating a 10% share of total exports. Indonesia (X tons) and Singapore (X tons) took a minor share of total exports.

The Philippines was also the fastest-growing in terms of the waste cork, crushed, granulated or ground cork exports, with a CAGR of +16.2% from 2012 to 2021. Cambodia experienced a relatively flat trend pattern. Singapore (-6.3%), Thailand (-13.5%) and Indonesia (-15.3%) illustrated a downward trend over the same period. While the share of the Philippines (+50 p.p.), Cambodia (+5.5 p.p.) and Singapore (+2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Indonesia (-21.7 p.p.) and Thailand (-22.7 p.p.) displayed negative dynamics.

In value terms, the Philippines ($X) remains the largest waste cork supplier in ASEAN, comprising 85% of total exports. The second position in the ranking was taken by Singapore ($X), with a 9.9% share of total exports. It was followed by Thailand, with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Philippines totaled +73.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+21.5% per year) and Thailand (-10.3% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, with an increase of 90% against the previous year. Over the period under review, the export price posted a buoyant increase. The pace of growth was the most pronounced in 2014 when the export price increased by 160% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+49.3%), while the other leaders experienced more modest paces of growth.

Waste Cork Imports

Imports in ASEAN

In 2021, overseas purchases of waste cork, crushed, granulated or ground cork decreased by -30.3% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 55%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, waste cork imports declined notably to $X in 2021. Overall, imports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2016 with an increase of 44% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Vietnam (X tons), distantly followed by Lao People's Democratic Republic (X tons), Cambodia (X tons), Singapore (X tons) and the Philippines (X tons) were the largest importers of waste cork, crushed, granulated or ground cork, together comprising 94% of total imports. Thailand (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +36.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest waste cork importing markets in ASEAN were Vietnam ($X), Cambodia ($X) and Singapore ($X), with a combined 61% share of total imports.

Cambodia, with a CAGR of +46.3%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, falling by -2.8% against the previous year. In general, the import price recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 11% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform