Report Update: May 1, 2024

Philippines - Articles of Natural Cork and Agglomerated Cork - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Cork Article Price in the Philippines - 2023

Cork Article Price in the Philippines (CIF) - 2022

In 2022, the average cork article import price amounted to $4,998 per ton, falling by -22.3% against the previous year. Over the period under review, the import price, however, recorded a temperate expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 143% against the previous year. The import price peaked at $15,348 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($80,785 per ton), while the price for Portugal ($1,804 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+33.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Cork Article Price in the Philippines (FOB) - 2022

In 2022, the average cork article export price amounted to $5,825 per ton, waning by -13% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 90%. As a result, the export price reached the peak level of $6,845 per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($9,237 per ton), while the average price for exports to Palau ($326 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+17.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cork Article Imports in the Philippines

For the third year in a row, the Philippines recorded decline in supplies from abroad of cork articles, which decreased by -14.3% to 242 tons in 2022. Overall, imports recorded a sharp slump. The smallest decline of -0.4% was in 2021.

In value terms, cork article imports fell dramatically to $1.2M in 2022. Over the period under review, imports recorded a significant curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 1.7% against the previous year. As a result, imports attained the peak of $4.3M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Cork Article in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	2,738	3,330	681	525	-42.3%
Portugal	946	488	344	181	-42.4%
Canada	18.9	27.6	31.1	77.1	59.8%
Belgium	16.4	4.5	15.6	32.4	25.5%
Singapore	53.9	85.8	25.3	24.1	-23.5%
Others	501	413	720	370	-9.6%
Total	4,275	4,349	1,817	1,210	-34.3%

Top Suppliers of Cork Article to the Philippines in 2022:

Portugal (100.5 tons)
China (36.7 tons)
Canada (6.0 tons)
Singapore (3.2 tons)
Belgium (2.5 tons)

Cork Article Exports in the Philippines

In 2022, approx. 23 tons of cork articles were exported from the Philippines; with a decrease of -2% on 2021. In general, exports continue to indicate a pronounced slump. The growth pace was the most rapid in 2021 when exports increased by 44% against the previous year.

In value terms, cork article exports dropped to $132K in 2022. Overall, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 when exports increased by 42% against the previous year.

Export of Cork Article in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	116	56.5	85.2	53.7	-22.6%
United States	20.0	27.4	47.8	32.5	17.6%
Netherlands	1.3	2.1	7.9	8.7	88.4%
Singapore	4.6	0.7	2.9	2.0	-24.2%
Palau	0.8	0.6	0.6	0.4	-20.6%
Saudi Arabia	N/A	6.6	N/A	N/A	0%
Others	24.7	15.3	10.5	34.7	12.0%
Total	168	109	155	132	-7.7%

Top Export Markets for Cork Article from the Philippines in 2022:

China (11.3 tons)
United States (6.3 tons)
Netherlands (1.2 tons)
Palau (1.1 tons)
Singapore (0.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cork article market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 16292250 - Corks and stoppers of natural cork
Prodcom 16292290 - Articles of natural cork, others
Prodcom 16292320 - Corks and stoppers, of agglomerated cork, for sparkling wine v.q.p.r.d. (including those with discs of natural cork)
Prodcom 16292350 - Corks and stoppers, of agglomerated cork, for wine (excluding for sparkling wine v.q.p.r.d.)
Prodcom 16292380 - Agglomerated cork - blocks, plates, sheets and strip, tiles of any shape, solid cylinders or discs including agglomerated expanded cork or burnt cork (excluding corks and stoppers)
Prodcom 16292400 - Agglomerated cork, other articles of agglomerated cork, n.e.c.

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023