Iran: Machinery For Packing Market 2024

Machinery For Packing Market Size in Iran

The Iranian machinery for packing market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption recorded a modest expansion. Machinery for packing consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Machinery For Packing Exports

Exports from Iran

In 2022, the amount of machinery for packing or wrapping exported from Iran fell remarkably to X units, reducing by -48% on 2021 figures. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 223% against the previous year. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, machinery for packing exports contracted dramatically to $X in 2022. In general, exports, however, recorded a pronounced expansion. The most prominent rate of growth was recorded in 2015 with an increase of 248%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Azerbaijan (X units) was the main destination for machinery for packing exports from Iran, accounting for a 26% share of total exports. Moreover, machinery for packing exports to Azerbaijan exceeded the volume sent to the second major destination, Turkey (X units), twofold. The third position in this ranking was taken by Spain (X units), with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume to Azerbaijan totaled +51.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+10.5% per year) and Spain (+16.0% per year).

In value terms, the largest markets for machinery for packing exported from Iran were Canada ($X), Turkey ($X) and Azerbaijan ($X), together accounting for 56% of total exports.

Canada, with a CAGR of +90.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average machinery for packing export price stood at $X per unit in 2022, rising by 31% against the previous year. Overall, the export price recorded a moderate expansion. The growth pace was the most rapid in 2014 an increase of 98% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Azerbaijan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+45.7%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery For Packing Imports

Imports into Iran

Machinery for packing imports into Iran was estimated at X units in 2022, flattening at the previous year's figure. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +7.6% against 2020 indices. The pace of growth was the most pronounced in 2014 when imports increased by 57%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, machinery for packing imports soared to $X in 2022. Overall, imports, however, recorded a mild descent. The pace of growth appeared the most rapid in 2019 when imports increased by 46%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Turkey (X units) and Italy (X units) were the main suppliers of machinery for packing imports to Iran, together comprising 61% of total imports. Bulgaria, Germany and India lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +89.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of machinery for packing or wrapping to Iran, comprising 27% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by Turkey, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-12.8% per year) and Turkey (+5.7% per year).

Import Prices by Country

In 2022, the average machinery for packing import price amounted to $X per unit, rising by 17% against the previous year. Over the period under review, the import price, however, recorded a deep setback. The pace of growth was the most pronounced in 2019 an increase of 45%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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