(EMAILWIRE.COM, August 14, 2024 ) Cork Material Market which was valued at $5 Bn in 2023, will reach $7.52 Bn in 2030 with a CAGR of 6%, as per Maximize market research.
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The cork material is used in variety of products, as cork showcases properties similar to multiple layers of microscopic bubble wrap. The material is derived from an Oak tree, and used for sound proofing, heat treatment, floors, ceilings, and facades. Cork is also used by fashion designers to create footwear, jewelry, and dresses. Cork forests improve soil organic matter, aid hydrological cycle. Being used in railway carriages, interior of top-of-the-line Mercedes Benz, aircraft, NASA and the European Space Agency the demand for cork material market is rising.
Europe dominates the Cork Material Market as half of the global wine growing area and 65% of production volume belongs to Europe. As per European Commission, growing construction sector has increased the demand for Cork material, and the demand is expected to grow in the forecast period. Asia-Pacific shows growth potential during the growth period.
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Cork Material Market Segmentation
by Product
• Anti-vibration products
• Clutch plates
• DIY (Do It Yourself) product
• Flooring product
• Sheets & rolls
• Polish wheels
by Application
• Wine bottles
• Thermal insulation
• Building & Decorations
• Sports
• Bulletin boards
• Aerospace
• Food and Beverages
Cork Material Market Key Players
• Ecore International
• CHARLES CANTRILL LTD
• Nu-Cork
• AMORIN
• Granorte
• Corksribas
• MJO Cork
• LICO
• Globus Cork
• WE cork
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