Iraq: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Iraq

In 2021, the Iraqi market for polyethylene with a specific gravity of less than X, in primary forms decreased by -51.9% to $X, falling for the fourth year in a row after three years of growth. Over the period under review, consumption saw a pronounced downturn. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in Iraq

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms rose notably to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a pronounced reduction. Production of peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports from Iraq

After two years of decline, shipments abroad of polyethylene with a specific gravity of less than X, in primary forms increased by 815% to X tons in 2021. Over the period under review, exports showed a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. In general, exports posted a pronounced increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), Turkey (X tons) and India (X tons) were the main destinations of exports of polyethylene with a specific gravity of less than X, in primary forms from Iraq, with a combined 70% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +20.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X), Turkey ($X) and India ($X) appeared to be the largest markets for polyethylene with a specific gravity of less than X exported from Iraq worldwide, together accounting for 69% of total exports.

Turkey, with a CAGR of +13.7%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, picking up by 39% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable reduction. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Turkey ($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 India (-0.1%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports into Iraq

In 2021, purchases abroad of polyethylene with a specific gravity of less than X, in primary forms decreased by -56.1% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, imports showed a pronounced decline. The pace of growth appeared the most rapid in 2015 with an increase of 493%. Over the period under review, imports of reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms shrank markedly to $X in 2021. In general, imports recorded a perceptible downturn. The pace of growth was the most pronounced in 2015 with an increase of 365% against the previous year. Over the period under review, imports of hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Iran (X tons) constituted the largest supplier of polyethylene with a specific gravity of less than X to Iraq, accounting for a 89% share of total imports. Moreover, imports of polyethylene with a specific gravity of less than X, in primary forms from Iran exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), more than tenfold. Jordan (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume from Iran totaled +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (-21.8% per year) and Jordan (-18.4% per year).

In value terms, Iran ($X) constituted the largest supplier of polyethylene with a specific gravity of less than X, in primary forms to Iraq, comprising 90% of total imports. The second position in the ranking was held by Jordan ($X), with a 4% share of total imports. It was followed by Saudi Arabia, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from Iran stood at +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (-13.9% per year) and Saudi Arabia (-25.0% per year).

Import Prices by Country

The average import price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, with an increase of 44% against the previous year. In general, the import price continues to indicate 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.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Jordan ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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