EU: Natural Cork Market 2024

Natural Cork Market Size in the EU

In 2021, the EU natural cork market decreased by -7.9% to $X, falling for the third consecutive year after three years of growth. Overall, consumption, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2017 when the market value increased by 3.7%. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Natural Cork Production in the EU

In value terms, natural cork production reduced to $X in 2021 estimated in export price. In general, production, however, showed a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 5.7%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Natural Cork Exports

Exports in the EU

In 2021, overseas shipments of natural cork debacked or roughly squared were finally on the rise to reach X tons after three years of decline. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 146% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, natural cork exports expanded markedly to $X in 2021. Overall, exports, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2014 when exports increased by 99% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain prevails in exports structure, accounting for X tons, which was approx. 89% of total exports in 2021. It was distantly followed by Poland (X tons), generating a 7.2% share of total exports. Italy (X tons) took a minor share of total exports.

Spain experienced a relatively flat trend pattern with regard to volume of exports of natural cork debacked or roughly squared. At the same time, Poland (+46.2%) and Italy (+3.1%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +46.2% from 2012-2021. While the share of Poland (+7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X) remains the largest natural cork supplier in the European Union, comprising 78% of total exports. The second position in the ranking was held by Poland ($X), with a 13% share of total exports.

In Spain, natural cork exports plunged by an average annual rate of -2.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Poland (+46.5% per year) and Italy (+3.1% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, shrinking by -15.5% against the previous year. In general, the export price recorded a pronounced curtailment. The growth pace was the most rapid in 2018 an increase of 31%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+0.2%), while the other leaders experienced mixed trends in the export price figures.

Natural Cork Imports

Imports in the EU

In 2021, the amount of natural cork debacked or roughly squared imported in the European Union surged to X tons, increasing by 18% compared with the previous year's figure. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +99.8% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 48% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, natural cork imports expanded notably to $X in 2021. In general, imports, however, showed a noticeable slump. The most prominent rate of growth was recorded in 2018 when imports increased by 34% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Slovakia (X tons), Spain (X tons) and Portugal (X tons) represented roughly 87% of total imports in 2021. It was distantly followed by the Czech Republic (X tons) and Poland (X tons), together creating an 11% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +48.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), Slovakia ($X) and Spain ($X) constituted the countries with the highest levels of imports in 2021, with a combined 82% share of total imports. These countries were followed by Poland and the Czech Republic, which together accounted for a further 10%.

Poland, with a CAGR of +41.0%, recorded the highest rates of growth with regard to the value of imports, among 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

In 2021, the import price in the European Union amounted to $X per ton, which is down by -4.3% against the previous year. In general, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when the import price increased by 12% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Portugal ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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