Asia-Pacific: Natural Cork Market 2025

Natural Cork Market Size in Asia-Pacific

In 2021, the Asia-Pacific natural cork market increased by 1.4% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Natural Cork Production in Asia-Pacific

In value terms, natural cork production dropped to $X in 2021 estimated in export price. Overall, production enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 59% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Natural Cork Exports

Exports in Asia-Pacific

In 2021, the amount of natural cork debacked or roughly squared exported in Asia-Pacific surged to X tons, increasing by 72% on the previous year's figure. In general, exports posted strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 126% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, natural cork exports surged to $X in 2021. Over the period under review, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 164%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, India (X tons), Japan (X tons) and Malaysia (X tons) represented the key exporter of natural cork debacked or roughly squared in Asia-Pacific, committing 86% of total export. It was distantly followed by South Korea (X tons), generating a 4.7% share of total exports. Australia (X tons) and China (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +59.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) emerged as the largest natural cork supplier in Asia-Pacific, comprising 41% of total exports. The second position in the ranking was held by Malaysia ($X), with a 20% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan totaled +32.9%. In the other countries, the average annual rates were as follows: Malaysia (+67.8% per year) and China (+17.5% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, increasing by 6.3% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, natural cork export price decreased by -7.3% against 2017 indices. The pace of growth was the most pronounced in 2017 an increase of 72%. As a result, the export price reached the peak level of $X per ton. From 2018 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 China ($X per ton), while India ($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 (+41.0%), while the other leaders experienced more modest paces of growth.

Natural Cork Imports

Imports in Asia-Pacific

In 2021, purchases abroad of natural cork debacked or roughly squared increased by 38% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2020 with an increase of 42% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, natural cork imports skyrocketed to $X in 2021. Overall, imports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 when imports increased by 47% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons), Indonesia (X tons) and the Philippines (X tons) represented roughly 62% of total imports in 2021. It was distantly followed by Bangladesh (X tons), comprising an 8.9% share of total imports. The following importers - Japan (X tons), Malaysia (X tons), China (X tons), Afghanistan (X tons), Australia (X tons), Pakistan (X tons) and South Korea (X tons) - together made up 22% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Australia (with a CAGR of +45.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Taiwan (Chinese) ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 55% of total imports. Japan, Australia, Malaysia, the Philippines, Bangladesh, China, Pakistan and Afghanistan lagged somewhat behind, together comprising a further 30%.

In terms of the main importing countries, Australia, with a CAGR of +45.0%, recorded the highest rates of growth with regard to the value of imports, 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 Asia-Pacific amounted to $X per ton, falling by -13% against the previous year. Over the period under review, the import price showed a mild reduction. The most prominent rate of growth was recorded in 2019 when the import price increased by 14%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while the Philippines ($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 (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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