Republic of Korea: Cork Article Market 2025

Cork Article Market Size in Republic of Korea

The South Korean cork article market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption saw a strong expansion. Cork article consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cork Article Exports

Exports from Republic of Korea

In 2021, overseas shipments of cork articles increased by 5.8% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports continue to indicate strong growth. The growth pace was the most rapid in 2014 with an increase of 235% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, cork article exports amounted to $X in 2021. In general, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 274%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Qatar (X tons), Croatia (X tons) and the United States (X tons) were the main destinations of cork article exports from South Korea, together comprising 33% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +93.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cork article exported from South Korea were the United States ($X), Qatar ($X) and Indonesia ($X), together accounting for 32% of total exports. These countries were followed by Ecuador, Croatia, the United Arab Emirates, Panama, Taiwan (Chinese), Oman, Bahrain, Hong Kong SAR, China and Yemen, which together accounted for a further 27%.

In terms of the main countries of destination, Croatia, with a CAGR of +65.9%, recorded the highest rates of growth with regard to 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

In 2021, the average cork article export price amounted to $X per ton, falling by -4.7% against the previous year. Overall, the export price, however, posted a prominent increase. The pace of growth appeared the most rapid in 2018 an increase of 35%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then fell modestly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Yemen ($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 (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cork Article Imports

Imports into Republic of Korea

In 2021, purchases abroad of cork articles was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports posted a prominent expansion. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, cork article imports soared to $X in 2021. In general, imports recorded a prominent expansion. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Portugal (X tons), China (X tons) and the United States (X tons) were the main suppliers of cork article imports to South Korea, with a combined 62% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +5.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Portugal ($X) and the United States ($X) constituted the largest cork article suppliers to South Korea, together comprising 68% of total imports.

The United States, with a CAGR of +13.3%, saw the highest rates of growth with regard to the value of imports, among 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 constant against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 19%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :