Malaysia: Natural Cork Market 2025

Natural Cork Market Size in Malaysia

The Malaysian natural cork market reached $X in 2021, with an increase of 14% against the previous year. Overall, consumption posted a strong expansion. Natural cork consumption peaked in 2021 and is likely to continue growth in the immediate term.

Natural Cork Production in Malaysia

In value terms, natural cork production fell to $X in 2021 estimated in export price. Overall, production, however, showed a resilient increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 43%. Natural cork production peaked at $X in 2020, and then fell in the following year.

Natural Cork Exports

Exports from Malaysia

In 2021, overseas shipments of natural cork debacked or roughly squared decreased by -25.9% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 4,291%. The exports peaked at X tons in 2020, and then reduced dramatically in the following year.

In value terms, natural cork exports contracted dramatically to $X in 2021. Overall, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 5,740%. The exports peaked at $X in 2020, and then declined remarkably in the following year.

Exports by Country

Saudi Arabia (X tons) was the main destination for natural cork exports from Malaysia, accounting for a 90% share of total exports. Moreover, natural cork exports to Saudi Arabia exceeded the volume sent to the second major destination, Indonesia (X tons), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia stood at +58.2%.

In value terms, Saudi Arabia ($X) remains the key foreign market for natural cork debacked or roughly squared exports from Malaysia, comprising 94% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 5.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia amounted to +67.4%.

Export Prices by Country

The average natural cork export price stood at $X per ton in 2021, picking up by 5.5% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, natural cork export price increased by +81.1% against 2017 indices. The growth pace was the most rapid in 2019 when the average export price increased by 36%. The export price peaked in 2021 and is likely to continue growth in years to come.

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 Indonesia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+71.6%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Cork Imports

Imports into Malaysia

In 2021, overseas purchases of natural cork debacked or roughly squared increased by 35% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, faced a abrupt descent. The growth pace was the most rapid in 2017 when imports increased by 85% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, natural cork imports shrank sharply to $X in 2021. In general, imports, however, showed a deep downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 184% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United States (X tons), the Netherlands (X tons) and China (X tons) were the main suppliers of natural cork imports to Malaysia, together accounting for 70% of total imports. These countries were followed by Portugal, India, Singapore, Spain and Japan, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +19.7%), while purchases for the other leaders experienced a decline.

In value terms, the largest natural cork suppliers to Malaysia were China ($X), Japan ($X) and the Netherlands ($X), together accounting for 56% of total imports.

China, with a CAGR of +8.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average natural cork import price stood at $X per ton in 2021, shrinking by -38.9% against the previous year. Over the period under review, the import price, however, continues to indicate a modest increase. The growth pace was the most rapid in 2017 an increase of 54% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then dropped remarkably in the following year.

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 Japan ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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