Malaysia: Cork Article Market 2025

Cork Article Market Size in Malaysia

In 2021, the Malaysian cork article market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cork Article Production in Malaysia

In value terms, cork article production stood at $X in 2021 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.3% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 26% against the previous year. Cork article production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Cork Article Exports

Exports from Malaysia

In 2021, shipments abroad of cork articles decreased by -75.7% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 155%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, cork article exports reduced sharply to $X in 2021. Overall, exports showed a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 126% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons), Saudi Arabia (X tons) and Indonesia (X tons) were the main destinations of cork article exports from Malaysia, together accounting for 82% of total exports. These countries were followed by Hong Kong SAR, Mexico, Canada and Australia, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +52.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Saudi Arabia ($X) and Hong Kong SAR ($X) were the largest markets for cork article exported from Malaysia worldwide, together accounting for 78% of total exports.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of +216.9%, saw 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 cork article export price stood at $X per ton in 2021, reducing by -5.1% against the previous year. In general, the export price, however, saw a pronounced increase. The most prominent rate of growth was recorded in 2017 an increase of 86% against the previous year. The export price peaked at $X per ton in 2020, and then reduced in the following year.

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 Hong Kong SAR ($X per ton), while the average price for exports to Mexico ($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 Hong Kong SAR (+110.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cork Article Imports

Imports into Malaysia

In 2021, overseas purchases of cork articles were finally on the rise to reach X tons after two years of decline. In general, imports enjoyed a buoyant expansion. 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. Over the period under review, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.1% 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 +76.8% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Portugal (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of cork article imports to Malaysia, together accounting for 52% of total imports. Poland, India, the UK and Singapore lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +242.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of cork articles to Malaysia, comprising 30% of total imports. The second position in the ranking was held by Portugal ($X), with a 12% share of total imports. It was followed by the UK, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-9.4% per year) and the UK (+9.1% per year).

Import Prices by Country

The average cork article import price stood at $X per ton in 2021, with a decrease of -27.2% against the previous year. Over the period under review, the import price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 when the average import price increased by 33%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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