HS Code:
Waste cork, classified under HS Code 450190, includes cork waste, crushed, granulated, or ground cork, which is primarily used in the production of agglomerated cork products, insulation materials, and other industrial applications. This category represents by-products and residues from cork processing, often utilized in sustainable and eco-friendly manufacturing processes due to cork's natural and renewable properties. Global trade in waste cork is influenced by the availability of natural cork resources, predominantly in Mediterranean countries, and the demand for sustainable materials in various industries.
Total Trade Volume
Approximately $50 million USD
Data from 2022
Source
UN Comtrade Database and International Trade Centre (ITC)
$20 million USD
40% of total trade of total trade
Increasing
$10 million USD
20% of total trade of total trade
Stable
$5 million USD
10% of total trade of total trade
Increasing
$3 million USD
6% of total trade of total trade
Stable
$2 million USD
4% of total trade of total trade
Increasing
Average Rate
3.5% ad valorem
Highest Rate
8% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU internal trade or specific bilateral agreements)
Rising demand for sustainable materials
Increased trade volume as industries shift toward eco-friendly raw materials like waste cork for insulation and construction
2021-2022
Technological advancements in cork recycling
Improved processing techniques have led to higher quality waste cork products, boosting export potential for producing countries
2020-2022
Fluctuations in natural cork production
Weather conditions and cork oak harvest cycles in Mediterranean regions affect the supply of waste cork, influencing global prices
2019-2022
The European Union's Green Deal policies have encouraged the use of sustainable materials, leading to increased subsidies for cork recycling and waste utilization projects.
January 2023
Positive for exporters like Portugal and Spain, with a projected 10-15% increase in demand for waste cork in EU markets.
A recent trade agreement has reduced tariffs on waste cork imports from Morocco to Turkey, facilitating greater market access for Moroccan exporters.
March 2023
Expected to boost Morocco's trade volume by 5% in the coming years, strengthening its position in the global market.
Research institutions in Portugal unveiled new methods to use waste cork in biocomposites for automotive and aerospace industries, creating new demand channels.
July 2022
Likely to drive long-term growth in the waste cork market as industrial applications expand.