MENA: Cork Article Market 2024

Cork Article Market Size in MENA

The MENA's cork article market shrank to $X in 2023, stabilizing at the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.

Cork Article Production in MENA

In value terms, cork article production expanded slightly to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of production peaked at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.

Cork Article Exports

Exports in MENA

In 2023, exports of cork articles in MENA expanded sharply to X tons, surging by X% against the previous year. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports attained the peak of X tons. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, cork article exports reached $X in 2023. Total exports indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

Exports by Country

The shipments of the seven major exporters of cork articles, namely Algeria, Turkey, the United Arab Emirates, Morocco, Saudi Arabia, Qatar and Tunisia, represented more than two-thirds of total export.

From 2012 to 2023, the biggest increases were recorded for Qatar (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), Turkey ($X) and Tunisia ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Turkey, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, falling by X% against the previous year. Export price indicated a measured increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cork article export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Morocco ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the other leaders experienced more modest paces of growth.

Cork Article Imports

Imports in MENA

In 2023, after two years of decline, there was significant growth in overseas purchases of cork articles, when their volume increased by X% to X tons. Total imports indicated a slight expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, cork article imports soared to $X in 2023. In general, imports saw prominent growth. The level of import peaked at $X in 2020; however, from 2021 to 2023, imports failed to regain momentum.

Imports by Country

Turkey (X tons) and Saudi Arabia (X tons) were the major importers of cork articles in 2023, accounting for near X% and X% of total imports, respectively. It was distantly followed by Israel (X tons), the United Arab Emirates (X tons), Oman (X tons) and Iraq (X tons), together comprising a X% share of total imports. Iran (X tons), Kuwait (X tons), Yemen (X tons), Qatar (X tons) and Morocco (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Yemen (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cork article importing markets in MENA were Saudi Arabia ($X), Turkey ($X) and Israel ($X), together accounting for X% of total imports.

In terms of the main importing countries, Saudi Arabia, with a CAGR of X%, 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 MENA stood at $X per ton in 2023, rising by X% against the previous year. Import price indicated a perceptible expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cork article import price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform