Thailand: Cork Article Market 2025

Cork Article Market Size in Thailand

The Thai cork article market reached $X in 2021, surging by 4.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Cork Article Exports

Exports from Thailand

In 2021, shipments abroad of cork articles decreased by -34.9% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports, however, saw a temperate increase. The pace of growth appeared the most rapid in 2017 with an increase of 935% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, cork article exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2017 with an increase of 424% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Finland (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main destinations of cork article exports from Thailand, together comprising 73% 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 Finland (with a CAGR of +1,095.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and the United States ($X) constituted the largest markets for cork article exported from Thailand worldwide, together comprising 77% of total exports. Hong Kong SAR, Taiwan (Chinese), Cambodia, Myanmar, Finland, Lao People's Democratic Republic and the United Arab Emirates lagged somewhat behind, together comprising a further 14%.

Finland, with a CAGR of +995.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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, increasing by 134% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Finland ($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 Myanmar (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cork Article Imports

Imports into Thailand

In 2021, purchases abroad of cork articles decreased by -8.2% to X tons, falling for the third year in a row after four years of growth. Over the period under review, total imports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -25.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 23% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cork article imports rose slightly to $X in 2021. Overall, imports showed a slight reduction. The most prominent rate of growth was recorded in 2016 when imports increased by 15%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Portugal (X tons) constituted the largest supplier of cork article to Thailand, with a 55% share of total imports. Moreover, cork article imports from Portugal exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by India (X tons), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume from Portugal amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.1% per year) and India (-7.4% per year).

In value terms, the largest cork article suppliers to Thailand were Portugal ($X), Japan ($X) and China ($X), with a combined 88% share of total imports. India and Poland lagged somewhat behind, together accounting for a further 6%.

Poland, with a CAGR of +104.0%, saw 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 more modest paces of growth.

Import Prices by Country

In 2021, the average cork article import price amounted to $X per ton, picking up by 12% against the previous year. Overall, the import price, however, saw a pronounced descent. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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