India: Waste Cork Market 2024

Waste Cork Market Size in India

The Indian waste cork market rose sharply to $X in 2021, growing by 6.3% against the previous year. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.4% against 2019 indices. Waste cork consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Waste Cork Production in India

In value terms, waste cork production reached $X in 2021 estimated in export price. In general, production, however, showed a prominent expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 43%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Waste Cork Exports

Exports from India

In 2021, overseas shipments of waste cork, crushed, granulated or ground cork decreased by -51.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports continue to indicate a significant decrease. The pace of growth was the most pronounced in 2020 with an increase of 86%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, waste cork exports fell markedly to $X in 2021. Over the period under review, exports faced a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 57%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bangladesh (X tons) was the main destination for waste cork exports from India, accounting for a 32% share of total exports. Moreover, waste cork exports to Bangladesh exceeded the volume sent to the second major destination, Thailand (X tons), twofold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bangladesh amounted to -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+61.9% per year) and the United Arab Emirates (+83.2% per year).

In value terms, the largest markets for waste cork exported from India were Bangladesh ($X), Nigeria ($X) and the United Arab Emirates ($X), with a combined 42% share of total exports. These countries were followed by Turkey, Thailand, Egypt, Uganda and the United States, which together accounted for a further 30%.

Among the main countries of destination, Turkey, with a CAGR of +74.0%, 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 waste cork export price stood at $X per ton in 2021, picking up by 21% against the previous year. In general, the export price recorded a buoyant expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 98%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Thailand ($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 Pakistan (+25.6%), while the prices for the other major destinations experienced more modest paces of growth.

Waste Cork Imports

Imports into India

In 2021, purchases abroad of waste cork, crushed, granulated or ground cork was finally on the rise to reach X tons after two years of decline. Over the period under review, imports recorded a relatively flat trend pattern. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, waste cork imports skyrocketed to $X in 2021. In general, total imports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -22.6% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 29% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Portugal (X tons) constituted the largest supplier of waste cork to India, with a 47% share of total imports. Moreover, waste cork imports from Portugal exceeded the figures recorded by the second-largest supplier, Algeria (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Portugal amounted to -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Algeria (+4.6% per year) and Italy (+21.8% per year).

In value terms, Portugal ($X) constituted the largest supplier of waste cork, crushed, granulated or ground cork to India, comprising 52% of total imports. The second position in the ranking was held by Algeria ($X), with a 12% share of total imports. It was followed by the Philippines, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Portugal totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Algeria (+8.6% per year) and the Philippines (-5.1% per year).

Import Prices by Country

The average waste cork import price stood at $X per ton in 2021, surging by 7.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 12%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :