Iraq: Paint And Varnish Market 2025

Paint And Varnish Market Size in Iraq

The Iraqi paint and varnish market declined dramatically to $X in 2022, which is down by -30.2% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then dropped sharply in the following year.

Paint And Varnish Production in Iraq

In value terms, paint and varnish production reached $X in 2022 estimated in export price. Overall, production recorded a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of 2.6%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Paint And Varnish Exports

Exports from Iraq

In 2022, exports of paints and varnishes from Iraq fell significantly to X tons, with a decrease of -48.6% compared with 2021 figures. In general, exports showed a abrupt decline. The pace of growth appeared the most rapid in 2017 with an increase of 29% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, paint and varnish exports reduced rapidly to $X in 2022. Over the period under review, exports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 25%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for paint and varnish exports from Iraq, with a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey totaled -6.5%.

In value terms, Turkey ($X) also remains the key foreign market for paints and varnishes exports from Iraq.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey totaled -11.1%.

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, with an increase of 51% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable downturn. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 -4.9% per year.

Paint And Varnish Imports

Imports into Iraq

In 2022, the amount of paints and varnishes imported into Iraq shrank rapidly to X tons, which is down by -33.7% compared with 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 21% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, paint and varnish imports declined markedly to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 33% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then shrank markedly in the following year.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of paint and varnish to Iraq, accounting for a 77% share of total imports. Moreover, paint and varnish imports from Turkey exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold. The UK (X tons) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (+38.2% per year) and the UK (+57.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of paints and varnishes to Iraq, comprising 62% of total imports. The second position in the ranking was taken by France ($X), with a 4.9% share of total imports. It was followed by the UK, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value from Turkey totaled -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+19.4% per year) and the UK (+48.1% per year).

Import Prices by Country

The average paint and varnish import price stood at $X per ton in 2022, rising by 4% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 11%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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