South Africa: Waste Cork Market 2024

Waste Cork Market Size in South Africa

In 2021, after two years of growth, there was significant decline in the South African waste cork market, when its value decreased by -6.4% to $X. Over the period under review, consumption showed a relatively flat trend pattern. Waste cork consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Waste Cork Production in South Africa

In value terms, waste cork production fell to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 44%. Waste cork production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Waste Cork Exports

Exports from South Africa

Waste cork exports from South Africa dropped significantly to X kg in 2021, falling by -48.8% compared with 2020. In general, exports recorded a sharp descent. The most prominent rate of growth was recorded in 2019 when exports increased by 2,613% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, waste cork exports skyrocketed to $X in 2021. Over the period under review, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 1,459%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Swaziland (X kg), Botswana (X kg) and Ghana (X kg) were the main destinations of waste cork exports from South Africa, together accounting for 89% of total exports. Moreover, waste cork exports in Swaziland exceeded the figures recorded by the second-largest exporter, Botswana, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Swaziland (with a CAGR of +45.9%), while the other leaders experienced mixed trend patterns.

In value terms, Ghana ($X) emerged as the key foreign market for waste cork, crushed, granulated or ground cork exports from South Africa, comprising 69% of total exports. The second position in the ranking was taken by Swaziland ($X), with a 22% share of total exports. It was followed by Botswana, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ghana was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Swaziland (+43.3% per year) and Botswana (-16.7% per year).

Export Prices by Country

The average waste cork export price stood at $X per ton in 2021, with an increase of 124% against the previous year. Over the period under review, the export price enjoyed a prominent expansion. The growth pace was the most rapid in 2017 when the average export price increased by 165% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to Botswana ($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 Zimbabwe (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

Waste Cork Imports

Imports into South Africa

In 2021, imports of waste cork, crushed, granulated or ground cork into South Africa declined remarkably to X kg, with a decrease of -70.3% on the previous year. Over the period under review, imports continue to indicate a sharp reduction. The pace of growth was the most pronounced in 2020 with an increase of 57% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, waste cork imports reduced rapidly to $X in 2021. Overall, imports saw a precipitous contraction. The pace of growth appeared the most rapid in 2018 with an increase of 49%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Portugal (X kg) constituted the largest supplier of waste cork to South Africa, accounting for a 65% share of total imports. Moreover, waste cork imports from Portugal exceeded the figures recorded by the second-largest supplier, China (X kg), fourfold. The United States (X kg) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Portugal stood at -22.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+50.8% per year) and the United States (-19.3% per year).

In value terms, the largest waste cork suppliers to South Africa were the United States ($X), China ($X) and Portugal ($X), with a combined 90% share of total imports.

China, with a CAGR of +53.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average waste cork import price amounted to $X per ton, increasing by 147% against the previous year. In general, the import price enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 1,051% against the previous year. Over the period under review, average import prices reached the maximum 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 (+8.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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