Middle East: Natural Cork Market 2024

Natural Cork Market Size in the Middle East

The Middle Eastern natural cork market dropped to $X in 2021, with a decrease of -5.7% against the previous year. Over the period under review, consumption continues to indicate a perceptible descent. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Natural Cork Production in the Middle East

In value terms, natural cork production totaled $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; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 25%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Natural Cork Exports

Exports in the Middle East

In 2021, shipments abroad of natural cork debacked or roughly squared increased by 29% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports recorded tangible growth. The growth pace was the most rapid in 2018 with an increase of 133%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, natural cork exports skyrocketed to $X in 2021. Over the period under review, exports posted a slight increase. The most prominent rate of growth was recorded in 2013 when exports increased by 119%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Jordan (X tons) and Saudi Arabia (X tons) represented the largest exporters of natural cork debacked or roughly squared in the Middle East, together mixing up 75% of total exports. It was distantly followed by the United Arab Emirates (X tons), committing a 17% share of total exports. Syrian Arab Republic (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Jordan (with a CAGR of +64.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest natural cork supplying countries in the Middle East were Jordan ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), together comprising 88% of total exports.

Among the main exporting countries, Jordan, with a CAGR of +45.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, reducing by -4.8% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 61%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Saudi Arabia ($X per ton) and Syrian Arab Republic ($X per ton), while the United Arab Emirates ($X per ton) and Jordan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.8%), while the other leaders experienced a decline in the export price figures.

Natural Cork Imports

Imports in the Middle East

In 2021, supplies from abroad of natural cork debacked or roughly squared decreased by -3.7% to X tons, falling for the third year in a row after two years of growth. Overall, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2017 when imports increased by 84% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, natural cork imports reached $X in 2021. Over the period under review, imports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 57% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Bahrain (X tons) and Yemen (X tons) represented roughly 54% of total imports in 2021. Qatar (X tons) took the next position in the ranking, followed by the United Arab Emirates (X tons), Syrian Arab Republic (X tons), Oman (X tons) and Iran (X tons). All these countries together held approx. 40% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iran (with a CAGR of +28.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest natural cork importing markets in the Middle East were Bahrain ($X), Yemen ($X) and the United Arab Emirates ($X), with a combined 66% share of total imports.

Among the main importing countries, Yemen, with a CAGR of +35.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, increasing by 7% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by 110% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Yemen (+8.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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