Thailand: Waste Cork Market 2025

Waste Cork Market Size in Thailand

After two years of growth, the Thai waste cork market decreased by -1.1% to $X in 2021. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Waste Cork Production in Thailand

In value terms, waste cork production reduced slightly to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 92% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Waste Cork Exports

Exports from Thailand

In 2021, after two years of growth, there was significant decline in shipments abroad of waste cork, crushed, granulated or ground cork, when their volume decreased by -97.5% to X tons. Overall, exports recorded a deep setback. The pace of growth appeared the most rapid in 2019 when exports increased by 673%. The exports peaked at X tons in 2020, and then reduced notably in the following year.

In value terms, waste cork exports contracted dramatically to $X in 2021. Over the period under review, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 668% against the previous year. As a result, the exports reached the peak of $X, and then reduced remarkably in the following year.

Exports by Country

Myanmar (X tons) was the main destination for waste cork exports from Thailand, with a 58% share of total exports. Moreover, waste cork exports to Myanmar exceeded the volume sent to the second major destination, China (X tons), twofold. The third position in this ranking was held by Vietnam (X kg), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Myanmar totaled +26.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+7.4% per year) and Vietnam (-18.8% per year).

In value terms, China ($X), Myanmar ($X) and Vietnam ($X) appeared to be the largest markets for waste cork exported from Thailand worldwide, together comprising 94% of total exports.

In terms of the main countries of destination, Myanmar, with a CAGR of +37.7%, saw 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 waste cork export price amounted to $X per ton, picking up by 16% against the previous year. Overall, the export price posted a tangible expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 74% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Vietnam ($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 Vietnam (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Waste Cork Imports

Imports into Thailand

After three years of decline, overseas purchases of waste cork, crushed, granulated or ground cork increased by 177% to X tons in 2021. Over the period under review, imports continue to indicate a temperate expansion. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, waste cork imports soared to $X in 2021. Overall, imports, however, recorded a perceptible slump. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Portugal (X tons) constituted the largest waste cork supplier to Thailand, with a 77% share of total imports. Moreover, waste cork imports from Portugal exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume from Portugal amounted to +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.5% per year) and the United States (-17.4% per year).

In value terms, the largest waste cork suppliers to Thailand were Portugal ($X), Japan ($X) and the United States ($X), with a combined 100% share of total imports.

Among the main suppliers, Portugal, with a CAGR of +17.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average waste cork import price amounted to $X per ton, shrinking by -40.8% against the previous year. In general, the import price recorded a deep setback. The pace of growth was the most pronounced in 2020 an increase of 54%. The import price peaked at $X per ton in 2014; however, from 2015 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 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 (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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