Iraq: Bituminous Mixtures Market 2024

Bituminous Mixtures Market Size in Iraq

The Iraqi bituminous mixtures market rose slightly to $X in 2021, growing by 4.4% against the previous year. Over the period under review, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -8.1% against 2019 indices. Bituminous mixtures consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Bituminous Mixtures Production in Iraq

In value terms, bituminous mixtures production amounted to $X in 2021 estimated in export price. Overall, the total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.7% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 60% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Bituminous Mixtures Exports

Exports from Iraq

For the fourth year in a row, Iraq recorded growth in overseas shipments of bituminous mixtures, which increased by 216% to X tons in 2021. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 330% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, bituminous mixtures exports surged to $X in 2021. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2016 when exports increased by 301%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

China (X tons) was the main destination for bituminous mixtures exports from Iraq, with a 91% share of total exports. Moreover, bituminous mixtures exports to China exceeded the volume sent to the second major destination, Kenya (X tons), more than tenfold. The third position in this ranking was taken by Ethiopia (X tons), with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +150.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+266.8% per year) and Ethiopia (+20.7% per year).

In value terms, China ($X) remains the key foreign market for bituminous mixtures exports from Iraq, comprising 89% of total exports. The second position in the ranking was held by Kenya ($X), with a 5.5% share of total exports. It was followed by Ethiopia, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +125.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+201.2% per year) and Ethiopia (+27.8% per year).

Export Prices by Country

The average bituminous mixtures export price stood at $X per ton in 2021, growing by 2.1% against the previous year. In general, the export price, however, showed a slight decline. The pace of growth was the most pronounced in 2016 when the average export price increased by 76% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Ethiopia ($X per ton), while the average price for exports to Kenya ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Bituminous Mixtures Imports

Imports into Iraq

In 2021, supplies from abroad of bituminous mixtures decreased by -35.6% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 226% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, bituminous mixtures imports reduced to $X in 2021. Overall, imports, however, showed resilient growth. The pace of growth appeared the most rapid in 2013 when imports increased by 175%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of bituminous mixtures to Iraq, with a 65% share of total imports. Moreover, bituminous mixtures imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Kuwait (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +43.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Kuwait (+4.2% per year) and Turkey (+5.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of bituminous mixtures to Iraq, comprising 59% of total imports. The second position in the ranking was taken by Turkey ($X), with an 11% share of total imports. It was followed by Kuwait, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates stood at +34.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.5% per year) and Kuwait (+12.0% per year).

Import Prices by Country

In 2021, the average bituminous mixtures import price amounted to $X per ton, picking up by 52% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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