Iraq: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Iraq

The Iraqi market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium dropped to $X in 2022, waning by -9.4% 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). Overall, consumption continues to indicate a slight setback. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports from Iraq

In 2022, approx. X tons of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium were exported from Iraq; dropping by -32.4% on 2021 figures. Over the period under review, exports, however, posted a notable increase. The pace of growth was the most pronounced in 2013 with an increase of 176%. Over the period under review, the exports of reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium declined to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 155% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Iraq, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey stood at +2.0%.

In value terms, Turkey ($X) also remains the key foreign market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exports from Iraq.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey was relatively modest.

Export Prices by Country

The average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, surging by 33% against the previous year. Overall, the export price, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2019 an increase of 36%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, 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 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to -2.1% per year.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports into Iraq

In 2022, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium into Iraq fell to X tons, which is down by -7.9% on 2021 figures. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 18% against the previous year. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium reduced to $X in 2022. Over the period under review, imports saw a mild curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 24%. Over the period under review, imports of hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) was the main paints and varnishes, based on acrylic or vinyl polymers, aqueous medium supplier to Iraq, with a 90% share of total imports. Moreover, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Turkey was relatively modest.

In value terms, Turkey ($X) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Iraq, comprising 86% of total imports. The second position in the ranking was held by Italy ($X), with a 4.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Turkey totaled -3.0%.

Import Prices by Country

In 2022, the average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, with a decrease of -2% against the previous year. Over the period under review, the import price recorded a perceptible descent. The pace of growth appeared the most rapid in 2015 when the average import price increased by 6.4% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Turkey stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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