Iraq: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Iraq

In 2022, after two years of decline, there was significant growth in the Iraqi odoriferous substance mixture market, when its value increased by 8.9% to $X. In general, consumption, however, showed a prominent increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports from Iraq

In 2022, the amount of mixtures of odoriferous substances and their preparations exported from Iraq skyrocketed to X tons, picking up by 167% on the previous year. Overall, exports posted a significant increase. The growth pace was the most rapid in 2020 when exports increased by 865% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, odoriferous substance mixture exports surged to $X in 2022. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 370%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for odoriferous substance mixture exports from Iraq, accounting for a 92% share of total exports. Moreover, odoriferous substance mixture exports to Turkey exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey stood at +44.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (0.0% per year) and Ireland (-2.9% per year).

In value terms, Turkey ($X) remains the key foreign market for mixtures of odoriferous substances and their preparations exports from Iraq, comprising 84% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Turkey stood at +23.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (0.0% per year) and Ireland (+0.0% per year).

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, falling by -4.1% against the previous year. Overall, the export price saw a deep setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by 57%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average 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 Hong Kong SAR ($X per ton), while the average price for exports to Ireland ($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 Ireland (+3.0%).

Odoriferous Substance Mixture Imports

Imports into Iraq

In 2022, overseas purchases of mixtures of odoriferous substances and their preparations decreased by -0.4% to X tons, falling for the second consecutive year after five years of growth. In general, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 64%. Imports peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, odoriferous substance mixture imports surged to $X in 2022. Over the period under review, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 77%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Turkey (X tons), Egypt (X tons) and Ireland (X tons) were the main suppliers of odoriferous substance mixture imports to Iraq, together accounting for 47% of total imports. Austria, France, the UK, Germany and the Netherlands lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +64.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Iraq, comprising 40% of total imports. The second position in the ranking was held by Turkey ($X), with a 14% share of total imports. It was followed by Egypt, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Ireland amounted to +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+48.9% per year) and Egypt (+15.1% per year).

Import Prices by Country

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, with an increase of 20% against the previous year. Overall, the import price, however, showed a noticeable decline. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 Ireland ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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