Saudi Arabia: Natural Cork Market 2025

Natural Cork Market Size in Saudi Arabia

In 2021, the Saudi natural cork market decreased by -2.4% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption showed a perceptible contraction. Natural cork consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Natural Cork Production in Saudi Arabia

In value terms, natural cork production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by 39% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Natural Cork Exports

Exports from Saudi Arabia

In 2021, after two years of decline, there was significant growth in overseas shipments of natural cork debacked or roughly squared, when their volume increased by 10% to X tons. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 235% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, natural cork exports expanded modestly to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 159% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Bahrain (X tons) was the main destination for natural cork exports from Saudi Arabia, with a 289% share of total exports. Moreover, natural cork exports to Bahrain exceeded the volume sent to the second major destination, Jordan (X tons), fivefold. The third position in this ranking was held by Yemen (X tons), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume to Bahrain amounted to +42.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (0.0% per year) and Yemen (+28.3% per year).

In value terms, Bahrain ($X) remains the key foreign market for natural cork debacked or roughly squared exports from Saudi Arabia, comprising 302% of total exports. The second position in the ranking was taken by Jordan ($X), with a 56% share of total exports. It was followed by Yemen, with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bahrain totaled +31.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (0.0% per year) and Yemen (-3.0% per year).

Export Prices by Country

In 2021, the average natural cork export price amounted to $X per ton, declining by -5.5% against the previous year. Over the period under review, the export price continues to indicate a mild setback. The growth pace was the most rapid in 2017 when the average export price increased by 68% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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 Arab Emirates ($X per ton), while the average price for exports to Sudan ($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 Denmark (+25.8%), while the prices for the other major destinations experienced a decline.

Natural Cork Imports

Imports into Saudi Arabia

In 2014, the amount of natural cork debacked or roughly squared imported into Saudi Arabia was estimated at X tons, approximately reflecting the previous year's figure. Overall, imports continue to indicate a significant increase. The growth pace was the most rapid in 2013 when imports increased by 115% against the previous year. Imports peaked in 2014 and are expected to retain growth in years to come.

In value terms, natural cork imports fell to $X in 2014. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 115%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

China (X tons), Malaysia (X tons) and Egypt (X tons) were the main suppliers of natural cork imports to Saudi Arabia, together comprising 38% of total imports. Moreover, natural cork imports in China exceeded the figures recorded by the second-largest supplier, Malaysia, sevenfold.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +25.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Malaysia ($X) and Thailand ($X) were the largest natural cork suppliers to Saudi Arabia, together comprising 38% of total imports.

Malaysia, with a CAGR of +15.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average natural cork import price stood at less than $X per ton in 2021, remaining constant against the previous year. Overall, the import price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2013 a decrease of -0.1% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :