Kuwait: Cork Article Market 2025

Cork Article Market Size in Kuwait

The Kuwaiti cork article market soared to $X in 2021, increasing by 98% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Cork Article Exports

Exports from Kuwait

In 2021, exports of cork articles from Kuwait shrank remarkably to X tons, with a decrease of -19.2% compared with the previous year's figure. Over the period under review, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 851% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, cork article exports expanded notably to $X in 2021. In general, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 1,218%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Egypt (X tons) was the main destination for cork article exports from Kuwait, accounting for a 50% share of total exports. Moreover, cork article exports to Egypt exceeded the volume sent to the second major destination, Iraq (X tons), twofold. Spain (X kg) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to Egypt totaled +122.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+20.5% per year) and Spain (0.0% per year).

In value terms, Spain ($X), Saudi Arabia ($X) and Iraq ($X) constituted the largest markets for cork article exported from Kuwait worldwide, together accounting for 57% of total exports.

Saudi Arabia, with a CAGR of +19.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average cork article export price amounted to $X per ton, growing by 35% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 63%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Egypt ($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 Qatar (+28.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cork Article Imports

Imports into Kuwait

Cork article imports into Kuwait soared to X tons in 2021, surging by 85% compared with the previous year. Over the period under review, imports saw buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cork article imports skyrocketed to $X in 2021. In general, imports saw a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Portugal (X tons) constituted the largest cork article supplier to Kuwait, with a 29% share of total imports. Moreover, cork article imports from Portugal exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. Saudi Arabia (X tons) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume from Portugal amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.3% per year) and Saudi Arabia (+17.8% per year).

In value terms, Portugal ($X), India ($X) and China ($X) constituted the largest cork article suppliers to Kuwait, with a combined 36% share of total imports. These countries were followed by the UK, Saudi Arabia, Taiwan (Chinese) and Algeria, which together accounted for a further 15%.

The UK, with a CAGR of +26.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cork article import price amounted to $X per ton, surging by 6.2% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 40%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Algeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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