Asia: Waste Cork Market 2025

Waste Cork Market Size in Asia

In 2021, the Asian waste cork market decreased by -1.4% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +35.3% against 2018 indices. The level of consumption peaked at $X in 2020, and then contracted modestly in the following year.

Waste Cork Production in Asia

In value terms, waste cork production reduced slightly to $X in 2021 estimated in export price. The total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.6% 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 increased by +37.4% against 2018 indices. The growth pace was the most rapid in 2019 with an increase of 35% 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 Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of waste cork, crushed, granulated or ground cork, when their volume increased by 12% to X tons. In general, exports, however, continue to indicate a mild descent. The most prominent rate of growth was recorded in 2018 when exports increased by 202% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, waste cork exports skyrocketed to $X in 2021. Overall, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2018 when exports increased by 165% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

China represented the largest exporting country with an export of around X tons, which recorded 67% of total exports. The Philippines (X tons) ranks second in terms of the total exports with a 12% share, followed by Israel (6%) and Japan (5.7%). The following exporters - Taiwan (Chinese) (X tons) and India (X tons) - each resulted at a 4% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to waste cork exports from China stood at +1.5%. At the same time, Israel (+66.4%), Taiwan (Chinese) (+37.5%) and the Philippines (+16.2%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in Asia, with a CAGR of +66.4% from 2012-2021. By contrast, Japan (-17.2%) and India (-21.9%) illustrated a downward trend over the same period. While the share of China (+17 p.p.), the Philippines (+9.4 p.p.), Israel (+6 p.p.) and Taiwan (Chinese) (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-12 p.p.) and Japan (-20.8 p.p.) displayed negative dynamics.

In value terms, China ($X) emerged as the largest waste cork supplier in Asia, comprising 57% of total exports. The second position in the ranking was held by the Philippines ($X), with a 22% share of total exports. It was followed by Japan, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +19.3%. In the other countries, the average annual rates were as follows: the Philippines (+73.5% per year) and Japan (-11.0% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, surging by 31% against the previous year. Over the period under review, the export price enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2019 an increase of 77%. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Israel ($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 Asia

In 2021, purchases abroad of waste cork, crushed, granulated or ground cork was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, waste cork imports surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons) and India (X tons) dominates imports structure, together mixing up 75% of total imports. It was distantly followed by Japan (X tons), constituting a 7.9% share of total imports. The following importers - Vietnam (X tons), Taiwan (Chinese) (X tons), Turkey (X tons) and South Korea (X tons) - each finished at a 9.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +38.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest waste cork importing markets in Asia were India ($X), China ($X) and Japan ($X), with a combined 76% share of total imports.

Among the main importing countries, China, with a CAGR of +26.0%, saw 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

The import price in Asia stood at $X per ton in 2021, falling by -8.2% against the previous year. Overall, the import price continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2016 when the import price increased by 14% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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