Iraq: Plastic Support Market 2024

Plastic Support Market Size in Iraq

The Iraqi plastic support market contracted to $X in 2022, which is down by -7.3% against the previous year. In general, consumption saw a perceptible shrinkage. Plastic support consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Plastic Support Production in Iraq

In value terms, plastic support production fell to $X in 2022 estimated in export price. Overall, production saw a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Plastic support production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Plastic Support Exports

Exports from Iraq

In 2022, approx. X tons of spools, cops and similar supports of plastics were exported from Iraq; surging by 1.9% against 2021 figures. Over the period under review, exports recorded a strong increase. The growth pace was the most rapid in 2013 when exports increased by 772% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic support exports reduced to $X in 2022. In general, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 780% against the previous year. As a result, the exports attained 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 plastic support exports from Iraq, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Turkey amounted to +16.2%.

In value terms, Turkey ($X) also remains the key foreign market for spools, cops and similar supports of plastics exports from Iraq.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey stood at +14.8%.

Export Prices by Country

In 2022, the average plastic support export price amounted to $X per ton, with a decrease of -6.8% against the previous year. Over the period under review, the export price showed a pronounced descent. The pace of growth appeared the most rapid in 2015 when the average export price increased by 56% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 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 -1.3% per year.

Plastic Support Imports

Imports into Iraq

Plastic support imports into Iraq amounted to X tons in 2022, rising by 2.9% against the previous year. In general, total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +10.7% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 39%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, plastic support imports stood at $X in 2022. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -0.5% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by 43% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of plastic support to Iraq, accounting for a 76% share of total imports. Moreover, plastic support imports from Turkey exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), tenfold. China (X tons) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+24.9% per year) and China (+4.7% per year).

In value terms, Turkey ($X) constituted the largest supplier of spools, cops and similar supports of plastics to Iraq, comprising 70% of total imports. The second position in the ranking was taken by China ($X), with a 10% share of total imports. It was followed by Saudi Arabia, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.7% per year) and Saudi Arabia (+33.2% per year).

Import Prices by Country

In 2022, the average plastic support import price amounted to $X per ton, dropping by -2.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2020 an increase of 12%. The import price peaked at $X per ton in 2021, and then declined modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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