Peru: Cork Article Market 2024

Cork Article Market Size in Peru

In 2021, the Peruvian cork article market increased by 72% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +118.5% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Cork Article Exports

Exports from Peru

In 2021, the amount of cork articles exported from Peru surged to X tons, with an increase of 45% on the year before. Overall, exports, however, showed a perceptible curtailment. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cork article exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a mild curtailment. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for cork article exports from Peru, with a 53% share of total exports. Moreover, cork article exports to Ecuador exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Guatemala (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Ecuador stood at -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+26.2% per year) and Guatemala (+2.6% per year).

In value terms, Ecuador ($X), the United States ($X) and Guatemala ($X) appeared to be the largest markets for cork article exported from Peru worldwide, with a combined 91% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +25.4%, recorded 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, therefore, remained relatively stable against the previous year. In general, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cork article export price decreased by -26.4% against 2018 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by 30%. The export price peaked at $X per ton in 2018; however, from 2019 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 Guatemala ($X per ton), while the average price for exports to Bolivia ($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 Ecuador (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cork Article Imports

Imports into Peru

In 2021, purchases abroad of cork articles increased by 73% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% 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 +78.3% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cork article imports soared to $X in 2021. Over the period under review, total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.9% 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 +126.8% against 2019 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 Peru, accounting for a 52% share of total imports. Moreover, cork article imports from Portugal exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The third position in this ranking was held by China (X tons), with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Portugal amounted to +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.2% per year) and China (+20.6% per year).

In value terms, Portugal ($X), Italy ($X) and China ($X) constituted the largest cork article suppliers to Peru, with a combined 75% share of total imports.

China, with a CAGR of +24.0%, recorded the highest rates of growth with regard to 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

The average cork article import price stood at $X per ton in 2021, remaining stable against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 29%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Chile ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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