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Cork is a commonly employed material for bottle stoppers, especially wine bottles. Cork material is composed of suberin, which is a hydrophobic substance. Key properties of cork material include high buoyancy, elasticity, and flame retardancy. Cork’s bubble form structure and natural fire retardant property make it suitable for acoustic and thermal insulation in house walls, floors, ceilings, and facades. The raw material for cork products is harvested from the cork oak tree. Production of compound agglomerated cork involves the addition of binders or adhesive agents such as asphalt, rubber, gypsum, glue, and plastic to cork granules.

The cork material market is primarily driven by the increase in demand from the alcoholic beverage industry. Rising disposable income, changing life styles, and westernization are some of the factors propelling the cork material market. Another key driver of the cork material market is the increase in demand in the sports sector; cork is an essential material in the production of badminton shuttlecocks. The application of coke materials in house walls, floors, ceilings, and facades is also on the rise. Thus, demand for cork in the building & construction sector is also considered a significant driver of the cork material market. Cork sheets, which are the by-products of stopper production, are primarily used to make bulletin boards as well as handles for fishing rods. The cork material is impermeable and moisture resistant; thus, cork is often used as an alternative to leather in hand bags, wallets, and other fashion items. Cork materials are employed in the storage of acids in laboratories. This coupled with the rise in investments in research and developments is boosting the cork material market across the globe.

In terms of product, the global cork material market can be segmented into anti-vibration products, clutch plates, DIY (Do It Yourself) product, flooring product, sheets & rolls, and polish wheels. Anti-vibration products include anti vibration coils, pads, sheets, and mats.Cork material is employed in flooring products such as polymer sealed cork floor tiles, cork flooring tiles, cork rolls, cork underlay roll, and cork expansion strips. Based on application, the cork material market can be classified into wine bottles, thermal insulation, shuttle cock badminton, bulletin boards, and floor and wall tiles.

The global cork material market expanded significantly in 2016. This trend is estimated to continue during the forecast period. North America accounted for significant share of the global cork material market in 2016 due to the raw material processing and technological advancements in the region. The cork material market in North America has been expanding steadily, led by the emergence of numerous wineries and breweries in the region. Similarly, the cork material market in Europe is also expanding due to the presence of advanced distilleries with high production capacity. Germany, the U.K., and Italy are considered key countries of the cork material market in Europe. Asia Pacific is also considered a major region of the cork material market due to the strong demand in China, Japan, and ASEAN. Change in lifestyle and presence of emerging economies are the prominent factors propelling the cork material market in Asia Pacific. Brazil constitutes the major demand for cork materials in Latin America. The recent economic expansion coupled with high disposable income and improving lifestyle has developed a strong middle class which is interested in wine consumption. The cork material market in Middle East & Africa is expected to offer attractive growth potential, due to the increase in tourism, especially the influx of business travelers, due to the opening up of economies in the Middle East.

Key players operating in the global cork material market include Ecore International, CHARLES CANTRILL LTD, and Nu-Cork

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Cork Material Market

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