GCC: Cork Article Market 2024

Cork Article Market Size in GCC

The GCC cork article market rose markedly to $X in 2023, surging by X% against the previous year. The total consumption indicated a modest expansion from 2012 to 2023: its value 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, consumption decreased by X% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Cork Article Production in GCC

In value terms, cork article production stood at $X in 2023 estimated in export price. The total production indicated a moderate increase from 2012 to 2023: its value 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Cork Article Exports

Exports in GCC

In 2023, approx. X tons of cork articles were exported in GCC; jumping by X% on the year before. In general, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, cork article exports skyrocketed to $X in 2023. Overall, exports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons), Saudi Arabia (X tons) and Qatar (X tons), together recording X% of total export.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Qatar (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest cork article supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), with a combined X% share of total exports.

Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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 GCC stood at $X per ton in 2023, falling by X% against the previous year. Export price indicated pronounced growth 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. The pace of growth appeared the most rapid in 2015 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then shrank notably 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 Saudi Arabia ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Cork Article Imports

Imports in GCC

In 2023, purchases abroad of cork articles increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Over the period under review, imports showed a measured expansion. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, cork article imports surged to $X in 2023. In general, imports showed a buoyant expansion. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2023, imports remained at a lower figure.

Imports by Country

Saudi Arabia represented the main importing country with an import of around X tons, which resulted at X% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, followed by Oman (X tons), Kuwait (X tons) and Qatar (X tons). All these countries together took near X% share of total imports. Bahrain (X tons) took a relatively small share of total imports.

Saudi Arabia was also the fastest-growing in terms of the cork articles imports, with a CAGR of X% from 2012 to 2023. At the same time, Oman (X%) and Kuwait (X%) displayed positive paces of growth. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Bahrain (X%) and Qatar (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Saudi Arabia and Oman increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported cork articles in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Saudi Arabia stood at X%. In the other countries, the average annual rates were as follows: Oman (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, rising by X% against the previous year. In general, the import price showed a prominent expansion. The pace of growth appeared the most rapid in 2015 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2021; however, from 2022 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform