Saudi Arabia: Natural Cork Market 2024

Natural Cork Market Size in Saudi Arabia

The Saudi natural cork market declined to $X in 2022, waning by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Natural Cork Production in Saudi Arabia

In value terms, natural cork production fell to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

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Natural Cork Exports

Exports from Saudi Arabia

In 2022, overseas shipments of natural cork debacked or roughly squared increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, natural cork exports rose markedly to $X in 2022. Over the period under review, exports saw a slight expansion. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Bahrain (X tons) was the main destination for natural cork exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, natural cork exports to Bahrain exceeded the volume sent to the second major destination, Yemen (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bahrain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (X% per year) and the United Arab Emirates (X% per year).

In value terms, Bahrain ($X) remains the key foreign market for natural cork debacked or roughly squared exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was held by Yemen ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bahrain stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The average natural cork export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, natural cork export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Bahrain ($X 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 Bahrain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Cork Imports

Imports into Saudi Arabia

Natural cork imports into Saudi Arabia stood at X tons in 2014, approximately mirroring 2013 figures. In general, imports posted significant growth. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2014 and are likely to continue growth in years to come.

In value terms, natural cork imports dropped to $X in 2014. Overall, imports recorded a significant expansion. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2014, China (X tons) constituted the largest natural cork supplier to Saudi Arabia, accounting for a X% share of total imports. Moreover, natural cork imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold.

From 2012 to 2014, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and South Korea (X% per year).

In value terms, China ($X), the United Arab Emirates ($X) and South Korea ($X) appeared to be the largest natural cork suppliers to Saudi Arabia, together comprising X% of total imports.

In terms of the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2014, the average natural cork import price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2013 a decrease of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2014, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2014, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Source: IndexBox Platform

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