Luxembourg: Cork Article Market 2024

Cork Article Market Size in Luxembourg

The Luxembourg cork article market surged to $X in 2021, with an increase of 84% 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, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.9% 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 increased by +88.4% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cork Article Exports

Exports from Luxembourg

In 2021, exports of cork articles from Luxembourg declined rapidly to X tons, reducing by -93.5% against the previous year's figure. Over the period under review, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 801%. As a result, the exports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, cork article exports shrank notably to $X in 2021. Overall, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by 222% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then contracted significantly in the following year.

Exports by Country

Belgium (X tons) was the main destination for cork article exports from Luxembourg, with a 54% share of total exports. Moreover, cork article exports to Belgium exceeded the volume sent to the second major destination, Germany (X kg), twofold.

From 2012 to 2021, the average annual growth rate of volume to Belgium amounted to +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+44.7% per year) and France (+7.6% per year).

In value terms, Germany ($X) emerged as the key foreign market for cork articles exports from Luxembourg, comprising 64% of total exports. The second position in the ranking was held by Belgium ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +43.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-0.5% per year) and France (+3.4% per year).

Export Prices by Country

In 2021, the average cork article export price amounted to $X per ton, rising by 300% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 471% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Belgium ($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 Turkey (+1,954.0%), while the prices for the other major destinations experienced a decline.

Cork Article Imports

Imports into Luxembourg

In 2021, cork article imports into Luxembourg soared to X tons, rising by 80% compared with the previous year's figure. In general, imports continue to indicate a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cork article imports surged to $X in 2021. Over the period under review, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.0% 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 +60.9% against 2018 indices. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of cork article imports to Luxembourg, with a combined 77% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +19.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Portugal ($X) and France ($X) constituted the largest cork article suppliers to Luxembourg, with a combined 83% share of total imports. Belgium, Italy and the Netherlands lagged somewhat behind, together comprising a further 15%.

Belgium, with a CAGR of +13.6%, saw the highest growth rate of 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, waning by -25% against the previous year. Over the period under review, the import price continues to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2014 an increase of 43%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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 France ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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