Eastern Europe: Cork Article Market 2024

Cork Article Market Size in Eastern Europe

In 2021, the East European cork article market increased by 6.9% to $X for the first time since 2016, thus ending a four-year declining trend. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Cork Article Production in Eastern Europe

In value terms, cork article production expanded sharply 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 +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -30.5% against 2016 indices. The pace of growth was the most pronounced in 2013 with an increase of 34% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Cork Article Exports

Exports in Eastern Europe

In 2021, approx. X tons of cork articles were exported in Eastern Europe; increasing by 10% compared with the previous year's figure. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 43% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, cork article exports soared to $X in 2021. Overall, exports showed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland dominates exports structure, reaching X tons, which was near 55% of total exports in 2021. Lithuania (X tons) ranks second in terms of the total exports with an 8.8% share, followed by Russia (8%), Hungary (7.7%), Ukraine (6.8%) and Bulgaria (5%). The Czech Republic (X tons) took a minor share of total exports.

Poland experienced a relatively flat trend pattern with regard to volume of exports of cork articles. At the same time, Ukraine (+27.9%), Bulgaria (+20.2%), Russia (+16.0%), Lithuania (+12.3%) and Hungary (+9.1%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +27.9% from 2012-2021. By contrast, the Czech Republic (-12.0%) illustrated a downward trend over the same period. Ukraine (+6 p.p.), Russia (+5.8 p.p.), Lithuania (+5.5 p.p.), Hungary (+4 p.p.) and Bulgaria (+4 p.p.) significantly strengthened its position in terms of the total exports, while Poland and the Czech Republic saw its share reduced by -5.4% and -5.5% from 2012 to 2021, respectively.

In value terms, Poland ($X) remains the largest cork article supplier in Eastern Europe, comprising 46% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 10% share of total exports. It was followed by Bulgaria, with a 9% share.

In Poland, cork article exports increased at an average annual rate of +6.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ukraine (+39.6% per year) and Bulgaria (+19.5% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, picking up by 18% against the previous year. Export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cork article export price decreased by +0.2% against 2018 indices. The growth pace was the most rapid in 2018 when the export price increased by 25% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Lithuania ($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 Czech Republic (+14.6%), while the other leaders experienced more modest paces of growth.

Cork Article Imports

Imports in Eastern Europe

In 2021, imports of cork articles in Eastern Europe was estimated at X tons, remaining constant against the year before. Overall, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of 7.1% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cork article imports amounted to $X in 2021. Over the period under review, imports, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2018 when imports increased by 13%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Russia was the key importing country with an import of around X tons, which finished at 45% of total imports. Poland (X tons) ranks second in terms of the total imports with a 13% share, followed by Ukraine (8.7%), the Czech Republic (8.2%) and Romania (5.6%). The following importers - Lithuania (X tons) and Belarus (X tons) - together made up 7.1% of total imports.

Imports into Russia decreased at an average annual rate of -9.0% from 2012 to 2021. At the same time, Lithuania (+9.6%), Romania (+4.7%) and Belarus (+1.2%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +9.6% from 2012-2021. By contrast, Poland (-3.2%), Ukraine (-4.8%) and the Czech Republic (-7.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Romania, Poland, Lithuania and Belarus increased by +3.5, +3.2, +2.8 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported cork articles in Eastern Europe, comprising 37% of total imports. The second position in the ranking was taken by Poland ($X), with an 11% share of total imports. It was followed by the Czech Republic, with an 11% share.

In Russia, cork article imports plunged by an average annual rate of -5.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Poland (+0.9% per year) and the Czech Republic (+0.2% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, growing by 4.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.2%. The pace of growth was the most pronounced in 2018 when the import price increased by 14% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

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 Romania ($X per ton), while Lithuania ($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 Czech Republic (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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