Asia-Pacific: Cork Article Market 2025

Cork Article Market Size in Asia-Pacific

After two years of decline, the Asia-Pacific cork article market increased by 0.2% to $X in 2021. The total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -15.4% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cork Article Production in Asia-Pacific

In value terms, cork article production reached $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -17.0% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of 36% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Cork Article Exports

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in overseas shipments of cork articles, which increased by 28% to X tons in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +62.3% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cork article exports soared to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +67.1% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near 80% of total exports in 2021. It was distantly followed by India (X tons) and Vietnam (X tons), together mixing up a 14% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to cork article exports from China stood at +7.0%. At the same time, Vietnam (+22.3%), India (+11.2%) and Taiwan (Chinese) (+8.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +22.3% from 2012-2021. Vietnam (+3.9 p.p.), China (+3.9 p.p.) and India (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest cork article supplier in Asia-Pacific, comprising 68% of total exports. The second position in the ranking was taken by India ($X), with a 7.4% share of total exports. It was followed by Vietnam, with a 5.2% share.

In China, cork article exports increased at an average annual rate of +10.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: India (+8.4% per year) and Vietnam (+23.6% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, picking up by 4.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2018 when the export price increased by 23%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the other leaders experienced more modest paces of growth.

Cork Article Imports

Imports in Asia-Pacific

After three years of decline, overseas purchases of cork articles increased by 4.7% to X tons in 2021. Overall, imports, however, saw a mild contraction. The pace of growth was the most pronounced in 2017 when imports increased by 9.5%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, cork article imports rose markedly to $X in 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 15%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China represented the key importing country with an import of about X tons, which finished at 33% of total imports. Japan (X tons) took the second position in the ranking, followed by Australia (X tons), Vietnam (X tons), India (X tons) and South Korea (X tons). All these countries together held near 45% share of total imports. The following importers - Indonesia (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), New Zealand (X tons), the Philippines (X tons), Singapore (X tons) and Pakistan (X tons) - together made up 18% of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of cork articles. At the same time, Vietnam (+35.2%), India (+11.1%), the Philippines (+10.0%), Malaysia (+9.3%), South Korea (+7.3%), Singapore (+4.6%) and Pakistan (+3.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +35.2% from 2012-2021. New Zealand and Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Australia (-7.0%), Indonesia (-7.3%) and Japan (-8.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam, India, South Korea and China increased by +6.8, +4.4, +3.3 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Australia ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2021, together comprising 66% of total imports. Indonesia, South Korea, New Zealand, Vietnam, India, Taiwan (Chinese), Singapore, the Philippines, Malaysia and Pakistan lagged somewhat behind, together comprising a further 30%.

Vietnam, with a CAGR of +27.0%, recorded the highest growth rate of the value of imports, in terms of 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

The import price in Asia-Pacific stood at $X per ton in 2021, remaining stable against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2018 when the import price increased by 24%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat 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 Australia ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+14.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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