China: Cork Article Market 2024

Cork Article Market Size in China

In 2023, the Chinese cork article market decreased by X% to $X, falling for the second consecutive year after two years of growth. Overall, the total consumption indicated a measured expansion 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, consumption decreased by X% against 2021 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Cork Article Production in China

In value terms, cork article production totaled $X in 2023 estimated in export price. Over the period under review, the total production indicated a prominent increase 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2016 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Cork Article Exports

Exports from China

For the fifth year in a row, China recorded growth in overseas shipments of cork articles, which increased by X% to X tons in 2023. In general, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are likely to see gradual growth in the immediate term.

In value terms, cork article exports expanded notably to $X in 2023. Overall, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked in 2023 and are likely to continue growth in the near future.

Exports by Country

Vietnam (X tons) was the main destination for cork article exports from China, accounting for a X% share of total exports. Moreover, cork article exports to Vietnam exceeded the volume sent to the second major destination, the United States (X tons), threefold. Germany (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Germany (X% per year).

In value terms, Vietnam ($X) remains the key foreign market for cork articles exports from China, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Germany (X% per year).

Export Prices by Country

The average cork article export price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the export price, however, showed mild growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2023, 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 Italy ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cork Article Imports

Imports into China

In 2023, the amount of cork articles imported into China dropped notably to X tons, with a decrease of X% on the previous year. Over the period under review, imports continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports failed to regain momentum.

In value terms, cork article imports declined slightly to $X in 2023. Overall, imports showed a mild reduction. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Portugal (X tons) constituted the largest supplier of cork article to China, with a X% share of total imports. Moreover, cork article imports from Portugal exceeded the figures recorded by the second-largest supplier, Algeria (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Portugal stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Algeria (X% per year) and Spain (X% per year).

In value terms, Portugal ($X) constituted the largest supplier of cork articles to China, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Portugal was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and France (X% per year).

Import Prices by Country

In 2023, the average cork article import price amounted to $X per ton, jumping by X% against the previous year. Overall, import price indicated perceptible 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. Based on 2023 figures, cork article import price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of X%. The import price peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Algeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform