Kuwait: Natural Cork Market 2025

Natural Cork Market Size in Kuwait

The Kuwaiti natural cork market declined to $X in 2021, shrinking by -6.7% against the previous year. Over the period under review, consumption showed a buoyant expansion. Natural cork consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Natural Cork Production in Kuwait

In value terms, natural cork production reduced dramatically to $X in 2021 estimated in export price. Overall, production, however, showed strong growth. The pace of growth appeared the most rapid in 2020 with an increase of 49%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Natural Cork Exports

Exports from Kuwait

Natural cork exports from Kuwait shrank to X tons in 2021, declining by -7.6% against 2020. Overall, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 219% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, natural cork exports expanded significantly to $X in 2021. Over the period under review, exports saw a perceptible downturn. The growth pace was the most rapid in 2017 with an increase of 379%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Iraq (X kg), Sri Lanka (X kg) and India (X kg) were the main destinations of natural cork exports from Kuwait, with a combined 94% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Iraq (with a CAGR of +98.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Iraq ($X), Sri Lanka ($X) and India ($X) constituted the largest markets for natural cork exported from Kuwait worldwide, together comprising 91% of total exports.

In terms of the main countries of destination, Iraq, with a CAGR of +102.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average natural cork export price stood at $X per ton in 2021, increasing by 22% against the previous year. In general, the export price posted a buoyant increase. The most prominent rate of growth was recorded in 2016 an increase of 77%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to India ($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 Egypt (+49.9%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Cork Imports

Imports into Kuwait

In 2021, overseas purchases of natural cork debacked or roughly squared were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports saw a remarkable increase. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, natural cork imports soared to $X in 2021. Overall, imports continue to indicate a strong expansion. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of natural cork to Kuwait, accounting for a 70% share of total imports. Moreover, natural cork imports from South Korea exceeded the figures recorded by the second-largest supplier, Jordan (X kg), ninefold. The third position in this ranking was taken by Turkey (X kg), with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea totaled +42.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+21.6% per year) and Turkey (+78.6% per year).

In value terms, Jordan ($X) constituted the largest supplier of natural cork debacked or roughly squared to Kuwait, comprising 25% of total imports. The second position in the ranking was held by South Korea ($X), with a 12% share of total imports. It was followed by Turkey, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Jordan totaled +30.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+20.9% per year) and Turkey (+72.8% per year).

Import Prices by Country

In 2021, the average natural cork import price amounted to $X per ton, picking up by 22% against the previous year. In general, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, natural cork import price decreased by -0.8% against 2019 indices. The growth pace was the most rapid in 2019 when the average import price increased by 67% against the previous year. As a result, import price reached 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 Jordan ($X per ton), while the price for South Korea ($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 United Arab Emirates (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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