Singapore: Natural Cork Market 2024

Natural Cork Market Size in Singapore

The Singaporean natural cork market reduced to $X in 2022, waning by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Natural Cork Production in Singapore

In value terms, natural cork production shrank to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Natural cork production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Natural Cork Exports

Exports from Singapore

In 2022, approx. X kg of natural cork debacked or roughly squared were exported from Singapore; waning by X% against 2021 figures. Overall, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, natural cork exports contracted dramatically to $X in 2022. In general, exports faced a deep slump. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X kg) was the main destination for natural cork exports from Singapore, accounting for a X% share of total exports. Moreover, natural cork exports to Malaysia exceeded the volume sent to the second major destination, Vietnam (X kg), threefold. The third position in this ranking was held by Maldives (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Maldives (X.0% per year).

In value terms, Malaysia ($X) remains the key foreign market for natural cork debacked or roughly squared exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2022, the average natural cork export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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 Malaysia ($X per ton), while the average price for exports to Maldives ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Cork Imports

Imports into Singapore

In 2022, the amount of natural cork debacked or roughly squared imported into Singapore skyrocketed to X tons, growing by X% on the previous year. In general, imports recorded a prominent expansion. The pace of growth appeared the most rapid in 2015 when imports increased by X%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, natural cork imports rose rapidly to $X in 2022. Overall, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Brazil (X tons), Indonesia (X tons) and the United States (X kg) were the main suppliers of natural cork imports to Singapore, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of natural cork debacked or roughly squared to Singapore, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Indonesia (X% per year).

Import Prices by Country

The average natural cork import price stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price, however, continues to indicate a tangible increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 France ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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