South-Eastern Asia: Cork Article Market 2025

Cork Article Market Size in South-Eastern Asia

In 2021, the Southeast Asian cork article market was finally on the rise to reach $X after two years of decline. The total consumption indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -20.2% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Cork Article Production in South-Eastern Asia

In value terms, cork article production surged to $X in 2021 estimated in export price. The total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -18.9% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 28%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Cork Article Exports

Exports in South-Eastern Asia

In 2021, the amount of cork articles exported in South-Eastern Asia surged to X tons, rising by 35% compared with the previous year. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +67.7% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cork article exports expanded to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +83.6% against 2015 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 35%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Vietnam prevails in exports structure, finishing at X tons, which was approx. 81% of total exports in 2021. It was distantly followed by Cambodia (X tons), making up a 5.4% share of total exports. The following exporters - Singapore (X tons), Malaysia (X tons), the Philippines (X tons) and Thailand (X tons) - together made up 13% of total exports.

From 2012 to 2021, average annual rates of growth with regard to cork article exports from Vietnam stood at +22.3%. At the same time, Cambodia (+66.2%) and Thailand (+3.3%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +66.2% from 2012-2021. By contrast, the Philippines (-6.2%), Singapore (-8.6%) and Malaysia (-16.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam and Cambodia increased by +57 and +5.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest cork article supplier in South-Eastern Asia, comprising 69% of total exports. The second position in the ranking was held by Singapore ($X), with a 9.7% share of total exports. It was followed by Thailand, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value in Vietnam amounted to +23.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-6.2% per year) and Thailand (+3.8% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, which is down by -22.9% against the previous year. Over the period under review, the export price saw a slight reduction. The growth pace was the most rapid in 2018 when the export price increased by 25%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Cambodia ($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 (+3.5%), while the other leaders experienced more modest paces of growth.

Cork Article Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of cork articles were imported in South-Eastern Asia; which is down by -19.8% against 2020. Total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +4.0% 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 +47.1% against 2016 indices. The growth pace was the most rapid in 2018 when imports increased by 39%. Over the period under review, imports reached the peak figure at X tons in 2020, and then shrank remarkably in the following year.

In value terms, cork article imports dropped to $X in 2021. In general, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 56%. The level of import peaked at $X in 2020, and then declined in the following year.

Imports by Country

In 2021, Vietnam (X tons), distantly followed by Indonesia (X tons), Malaysia (X tons), the Philippines (X tons), Singapore (X tons) and Thailand (X tons) represented the largest importers of cork articles, together comprising 97% of total imports. Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +35.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2021, with a combined 71% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +27.0%, saw 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 South-Eastern Asia stood at $X per ton in 2021, growing by 9.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.3%. The pace of growth appeared the most rapid in 2013 an increase of 19% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+14.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :