Mexico: Cork Article Market 2025

Cork Article Market Size in Mexico

In 2021, after five years of decline, there was growth in the Mexican cork article market, when its value increased by 1.6% to $X. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Cork Article Production in Mexico

In value terms, cork article production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 26%. Cork article production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Cork Article Exports

Exports from Mexico

In 2021, the amount of cork articles exported from Mexico surged to X tons, picking up by 48% on 2020 figures. In general, exports recorded a buoyant increase. The pace of growth was the most pronounced in 2013 when exports increased by 111% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, cork article exports skyrocketed to $X in 2021. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 185%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for cork article exports from Mexico, with a 91% share of total exports. Moreover, cork article exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), more than tenfold. Qatar (X tons) ranked third in terms of total exports with a 1.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +30.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-6.1% per year) and Qatar (-6.8% per year).

In value terms, the United States ($X) remains the key foreign market for cork articles exports from Mexico, comprising 88% of total exports. The second position in the ranking was held by Canada ($X), with a 5.2% share of total exports. It was followed by Portugal, with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +30.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+3.1% per year) and Portugal (-19.9% per year).

Export Prices by Country

In 2021, the average cork article export price amounted to $X per ton, shrinking by -11.8% against the previous year. In general, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cork article export price increased by +22.4% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 35% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 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 Portugal ($X per ton), while the average price for exports to Qatar ($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 Canada (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cork Article Imports

Imports into Mexico

In 2021, approx. X tons of cork articles were imported into Mexico; growing by 26% on the previous year. In general, total imports indicated moderate growth from 2012 to 2021: its volume 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, imports increased by +62.9% against 2017 indices. 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 resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% 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 +108.4% against 2013 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Portugal (X tons) constituted the largest supplier of cork article to Mexico, accounting for a 76% share of total imports. Moreover, cork article imports from Portugal exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold. Spain (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume from Portugal amounted to +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.8% per year) and Spain (+22.6% per year).

In value terms, Portugal ($X) constituted the largest supplier of cork articles to Mexico, comprising 79% of total imports. The second position in the ranking was taken by the United States ($X), with a 12% share of total imports. It was followed by Spain, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value from Portugal stood at +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.2% per year) and Spain (+27.6% per year).

Import Prices by Country

In 2021, the average cork article import price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cork article import price increased by +65.4% against 2013 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 29% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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 ($X per ton), while the price for China ($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 (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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