HS Code:
Agglomerated cork, classified under HS Code 4504, includes cork that has been ground into particles and then bound together, with or without a binding substance, to form blocks, sheets, or other articles. This category also encompasses various finished products made from agglomerated cork, such as gaskets, stoppers, and insulation materials. Agglomerated cork is widely used in industries like construction (for insulation and flooring), automotive (for seals and gaskets), and beverage (for bottle stoppers). Its eco-friendly and sustainable properties make it a preferred material in applications requiring thermal and acoustic insulation.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
UN Comtrade Database
USD 650 million
54.2% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 100 million
8.3% of total trade of total trade
Increasing
USD 80 million
6.7% of total trade of total trade
Stable
USD 50 million
4.2% of total trade of total trade
Decreasing
Average Rate
4.5% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU internal trade)
Growing demand for sustainable materials
Increased use of agglomerated cork in green building projects and eco-friendly packaging solutions, driving export growth from major producers like Portugal.
2021-2022
Technological advancements in cork processing
Improved manufacturing techniques have reduced production costs and enhanced product quality, making agglomerated cork more competitive against synthetic alternatives.
2020-2022
Shift in wine industry preferences
While natural cork stoppers remain dominant, the use of agglomerated cork stoppers is rising for lower-cost wines, boosting demand in specific segments.
2019-2022
The European Union introduced stricter sustainability and sourcing regulations for cork products to ensure environmental compliance and forest conservation.
March 2023
This may increase production costs for exporters but also enhances the marketability of certified agglomerated cork products in eco-conscious markets.
The Portuguese government and private sector announced a joint initiative to fund research into new applications of agglomerated cork, targeting automotive and aerospace industries.
July 2022
Expected to diversify export markets and reduce dependency on traditional sectors like wine stoppers.
Negotiations for a trade agreement between the EU and Mercosur countries have progressed, potentially lowering tariffs on cork products exported to South America.
October 2022
Could open new markets for European cork exporters, particularly in Brazil and Argentina, over the next few years.