Iraq: Market for Tubes, Pipes And Hoses Of Vulcanized Rubber 2024

Market Size for Tubes, Pipes And Hoses Of Vulcanized Rubber in Iraq

The Iraqi rubber tube and pipe market skyrocketed to $X in 2021, rising by 102% 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). Over the period under review, consumption saw buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Exports from Iraq

Rubber tube and pipe exports from Iraq surged to X tons in 2021, rising by 185% compared with 2020. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2014 when exports increased by 6,139% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, rubber tube and pipe exports surged to $X in 2021. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 3,010%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for rubber tube and pipe exports from Iraq, accounting for a 83% share of total exports. Moreover, rubber tube and pipe exports to Turkey exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Turkey stood at +37.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and Azerbaijan (0.0% per year).

In value terms, Turkey ($X) remains the key foreign market for tubes, pipes and hoses of vulcanized rubber exports from Iraq, comprising 89% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Turkey stood at +27.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and Azerbaijan (0.0% per year).

Export Prices by Country

The average rubber tube and pipe export price stood at $X per ton in 2021, falling by -40.5% against the previous year. In general, the export price faced a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when the average export price increased by 69% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Azerbaijan ($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 Turkey (-7.3%).

Imports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Imports into Iraq

Rubber tube and pipe imports into Iraq soared to X tons in 2021, growing by 97% compared with the year before. Overall, imports continue to indicate a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, rubber tube and pipe imports soared to $X in 2021. Over the period under review, imports recorded a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of rubber tube and pipe to Iraq, accounting for a 75% share of total imports. Moreover, rubber tube and pipe imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), eightfold. The UK (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-7.5% per year) and the UK (+31.4% per year).

In value terms, China ($X) constituted the largest supplier of tubes, pipes and hoses of vulcanized rubber to Iraq, comprising 55% of total imports. The second position in the ranking was held by the UK ($X), with a 21% share of total imports. It was followed by the United Arab Emirates, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+26.8% per year) and the United Arab Emirates (-0.1% per year).

Import Prices by Country

In 2021, the average rubber tube and pipe import price amounted to $X per ton, with an increase of 3.8% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2013 an increase of 26% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, 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 the UK ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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