Belgium: Natural Cork Market 2024

Natural Cork Market Size in Belgium

The Belgian natural cork market contracted rapidly to $X in 2021, falling by -53.9% against the previous year. In general, consumption continues to indicate a slight decrease. As a result, consumption reached the peak level of $X, and then fell remarkably in the following year.

Natural Cork Production in Belgium

In value terms, natural cork production rose to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 15% against the previous year. Natural cork production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Natural Cork Exports

Exports from Belgium

In 2021, after three years of growth, there was significant decline in shipments abroad of natural cork debacked or roughly squared, when their volume decreased by -64.8% to X tons. Over the period under review, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 2,164% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, natural cork exports soared to $X in 2021. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2014 when exports increased by 1,871% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X kg), France (X kg) and Azerbaijan (X kg) were the main destinations of natural cork exports from Belgium, together comprising 75% of total exports. Serbia, Italy, Germany and Hungary lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +108.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Azerbaijan ($X) and Germany ($X) constituted the largest markets for natural cork exported from Belgium worldwide, together accounting for 64% of total exports.

Among the main countries of destination, the United States, with a CAGR of +77.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average natural cork export price stood at $X per ton in 2021, rising by 436% against the previous year. Over the period under review, the export price continues to indicate a temperate increase. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Cork Imports

Imports into Belgium

In 2021, after two years of growth, there was significant decline in supplies from abroad of natural cork debacked or roughly squared, when their volume decreased by -75.6% to X tons. Over the period under review, imports saw a mild shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 2,385%. As a result, imports attained the peak of X tons, and then declined notably in the following year.

In value terms, natural cork imports shrank markedly to $X in 2021. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 1,196% against the previous year. As a result, imports reached the peak of $X, and then dropped notably in the following year.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of natural cork to Belgium, accounting for a 66% share of total imports. Moreover, natural cork imports from South Korea exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. China (X kg) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea totaled +130.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+31.3% per year) and China (+40.4% per year).

In value terms, South Korea ($X) constituted the largest supplier of natural cork debacked or roughly squared to Belgium, comprising 77% of total imports. The second position in the ranking was taken by China ($X), with a 6.2% share of total imports. It was followed by the Netherlands, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea totaled +73.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+36.8% per year) and the Netherlands (+22.1% per year).

Import Prices by Country

In 2021, the average natural cork import price amounted to $X per ton, increasing by 237% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+21.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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