United Arab Emirates: Natural Cork Market 2024

Natural Cork Market Size in the United Arab Emirates

In 2021, the natural cork market in the United Arab Emirates increased by less than 0.1% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded resilient growth. Natural cork consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Natural Cork Production in the United Arab Emirates

In value terms, natural cork production expanded remarkably to $X in 2021 estimated in export price. Overall, production, however, enjoyed a pronounced increase. The growth pace was the most rapid in 2018 when the production volume increased by 60%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Natural Cork Exports

Exports from the United Arab Emirates

In 2021, overseas shipments of natural cork debacked or roughly squared increased by 142% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 453%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, natural cork exports surged to $X in 2021. In general, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 627%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Kyrgyzstan (X tons) was the main destination for natural cork exports from the United Arab Emirates, accounting for a 72% share of total exports. Moreover, natural cork exports to Kyrgyzstan exceeded the volume sent to the second major destination, Oman (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Kyrgyzstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (-11.5% per year) and Saudi Arabia (-22.9% per year).

In value terms, Kyrgyzstan ($X) emerged as the key foreign market for natural cork debacked or roughly squared exports from the United Arab Emirates, comprising 283% of total exports. The second position in the ranking was held by Oman ($X), with a 48% share of total exports. It was followed by Saudi Arabia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Kyrgyzstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (-0.3% per year) and Saudi Arabia (-22.6% per year).

Export Prices by Country

In 2021, the average natural cork export price amounted to $X per ton, falling by -19.2% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 73%. 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 somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per ton), while the average price for exports to Yemen ($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 Tanzania (+70.8%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Cork Imports

Imports into the United Arab Emirates

In 2021, purchases abroad of natural cork debacked or roughly squared decreased by -3.5% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 610% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, natural cork imports expanded notably to $X in 2021. Over the period under review, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2019 when imports increased by 408%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main natural cork supplier to the United Arab Emirates, accounting for a 599% share of total imports. Moreover, natural cork imports from China exceeded the figures recorded by the second-largest supplier, Austria (X tons), more than tenfold. Germany (X tons) ranked third in terms of total imports with a 44% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (0.0% per year) and Germany (0.0% per year).

In value terms, China ($X), Saudi Arabia ($X) and India ($X) constituted the largest natural cork suppliers to the United Arab Emirates.

India, with a CAGR of +32.7%, saw 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 more modest paces of growth.

Import Prices by Country

In 2021, the average natural cork import price amounted to $X per ton, picking up by 10% against the previous year. In general, the import price enjoyed a tangible expansion. The pace of growth was the most pronounced in 2015 an increase of 189% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+9.7%).

Source: IndexBox Platform

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