Middle East: Natural Cork Market 2024

Natural Cork Market Size in the Middle East

The Middle Eastern natural cork market reduced modestly to $X in 2023, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a somewhat lower figure.

Natural Cork Production in the Middle East

In value terms, natural cork production reduced modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2023, production growth remained at a lower figure.

Natural Cork Exports

Exports in the Middle East

In 2023, shipments abroad of natural cork debacked or roughly squared was finally on the rise to reach X tons after four years of decline. Overall, exports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2023, the growth of the exports remained at a lower figure.

In value terms, natural cork exports surged to $X in 2023. In general, exports, however, continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the largest exporting country with an export of about X tons, which recorded X% of total exports. Jordan (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (X%). Syrian Arab Republic (X tons) held a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to natural cork exports from Saudi Arabia stood at X%. At the same time, Jordan (X%) and Syrian Arab Republic (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Saudi Arabia, Jordan, the United Arab Emirates and Syrian Arab Republic increased by X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest natural cork supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Jordan ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Saudi Arabia, natural cork exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Jordan (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the export price, however, recorded resilient growth. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Jordan ($X per ton), while Syrian Arab Republic ($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 a decline in the export price figures.

Natural Cork Imports

Imports in the Middle East

In 2023, purchases abroad of natural cork debacked or roughly squared decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then declined notably in the following year.

In value terms, natural cork imports fell markedly to $X in 2023. Over the period under review, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then reduced notably in the following year.

Imports by Country

Qatar (X tons) and Jordan (X tons) represented roughly X% of total imports in 2023. Bahrain (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Yemen (X%) and the United Arab Emirates (X%). The following importers - Syrian Arab Republic (X tons) and Oman (X tons) - each recorded a X% share of total imports.

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

In value terms, the largest natural cork importing markets in the Middle East were Qatar ($X), Jordan ($X) and Bahrain ($X), with a combined X% share of total imports.

Jordan, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price, however, showed a modest increase. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped markedly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Jordan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform