Iraq: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in Iraq

The Iraqi plastic household articles market skyrocketed to $X in 2022, jumping by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw resilient growth. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Plastic Household Articles Exports

Exports from Iraq

In 2022, overseas shipments of household articles and toilet articles of plastics increased by 24% to X tons, rising for the fifth consecutive year after three years of decline. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 218% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, plastic household articles exports contracted rapidly to $X in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 354%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped significantly in the following year.

Exports by Country

The UK (X tons), Germany (X tons) and Turkey (X tons) were the main destinations of plastic household articles exports from Iraq, together comprising 73% of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +51.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic household articles exported from Iraq were Germany ($X), Turkey ($X) and the UK ($X), with a combined 66% share of total exports.

Among the main countries of destination, Germany, with a CAGR of +80.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plastic household articles export price amounted to $X per ton, falling by -42.9% against the previous year. Overall, the export price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2021 an increase of 118% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Household Articles Imports

Imports into Iraq

In 2022, approx. X tons of household articles and toilet articles of plastics were imported into Iraq; picking up by 20% on the previous year. In general, imports posted a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 257% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic household articles imports surged to $X in 2022. Over the period under review, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of 268%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Turkey (X tons) and the UK (X tons) were the main suppliers of plastic household articles imports to Iraq, together comprising 96% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +41.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of household articles and toilet articles of plastics to Iraq, comprising 69% of total imports. The second position in the ranking was taken by Turkey ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +43.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+4.6% per year) and the UK (+45.4% per year).

Import Prices by Country

The average plastic household articles import price stood at $X per ton in 2022, declining by -3.7% against the previous year. Over the period under review, import price indicated a remarkable increase 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, plastic household articles import price increased by +35.9% against 2018 indices. The pace of growth was the most pronounced in 2019 an increase of 24% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then declined modestly in the following year.

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 China ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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