Iraq: Amino Resin Market 2025

Amino Resin Market Size in Iraq

After four years of growth, the Iraqi amino resin market decreased by -14.6% to $X in 2022. Overall, consumption, however, posted a prominent expansion. Amino resin consumption peaked at $X in 2021, and then contracted in the following year.

Amino Resin Exports

Exports from Iraq

In 2019, approx. X kg of amino resins were exported from Iraq; approximately reflecting 2018 figures. Overall, exports showed a dramatic slump. The smallest decline of 99.9% was in 2014. Over the period under review, the exports attained the peak figure at X kg in 2013; however, from 2014 to 2019, the exports remained at a lower figure.

In value terms, amino resin exports stood at $X in 2019. Over the period under review, exports showed a sharp curtailment. The smallest decline of 99.9% was in 2014. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2019, the exports remained at a lower figure.

Exports by Country

Turkey (X kg) was the main destination for amino resin exports from Iraq, accounting for a approx. 100% share of total exports.

From 2013 to 2019, the average annual rate of growth in terms of volume to Turkey amounted to -21.0%.

From 2013 to 2019, the average annual rate of growth in terms of value to Turkey amounted to -22.5%.

Export Prices by Country

In 2019, the average amino resin export price amounted to $X per ton, remaining stable against the previous year. Overall, the export price showed a slight descent. The most prominent rate of growth was recorded in 2014 a decrease of 99.9% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2019, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2013 to 2019, the rate of growth in terms of prices for Turkey amounted to -1.9% per year.

Amino Resin Imports

Imports into Iraq

In 2022, purchases abroad of amino resins decreased by -12.2% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 85%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, amino resin imports shrank markedly to $X in 2022. In general, imports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2018 when imports increased by 81% against the previous year. Imports peaked at $X in 2021, and then fell notably in the following year.

Imports by Country

In 2022, Turkey (X tons) constituted the largest amino resin supplier to Iraq, with a 60% share of total imports. Moreover, amino resin imports from Turkey exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+65.5% per year) and Germany (+50.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of amino resins to Iraq, comprising 63% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total imports. It was followed by Germany, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+62.3% per year) and Germany (+53.5% per year).

Import Prices by Country

The average amino resin import price stood at $X per ton in 2022, shrinking by -4% against the previous year. Overall, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, amino resin import price increased by +80.1% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 78%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Spain ($X per ton) and China ($X per ton), while the price for the United Arab Emirates ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+23.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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