Iraq: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Iraq

The Iraqi unvulcanized rubber market reduced to $X in 2022, with a decrease of -7.5% 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). In general, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.0% against 2020 indices. Unvulcanized rubber consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Unvulcanized Rubber Exports

Exports from Iraq

Unvulcanized rubber exports from Iraq dropped dramatically to X kg in 2022, with a decrease of -37.6% on the year before. Over the period under review, exports, however, saw a strong expansion. The growth pace was the most rapid in 2013 with an increase of 65,030% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, unvulcanized rubber exports declined remarkably to $X in 2022. Overall, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 6,249%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Netherlands (X kg) and the United Arab Emirates (X kg) were the main destinations of unvulcanized rubber exports from Iraq.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of 0.0%).

In value terms, the United Arab Emirates ($X) remains the key foreign market for unvulcanized rubber and articles thereof exports from Iraq, comprising 53% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at +6.5%.

Export Prices by Country

The average unvulcanized rubber export price stood at $X per ton in 2022, growing by 13% against the previous year. Overall, the export price enjoyed a mild increase. The pace of growth was the most pronounced in 2020 an increase of 2,784%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+56.4%).

Unvulcanized Rubber Imports

Imports into Iraq

In 2022, approx. X tons of unvulcanized rubber and articles thereof were imported into Iraq; with a decrease of -11.3% against 2021. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 75% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, unvulcanized rubber imports reduced to $X in 2022. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +7.0% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 52% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Turkey (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of unvulcanized rubber imports to Iraq, with a combined 92% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +8.3%), while purchases for the other leaders experienced a decline.

In value terms, China ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the largest unvulcanized rubber suppliers to Iraq, with a combined 83% share of total imports.

In terms of the main suppliers, China, with a CAGR of +14.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average unvulcanized rubber import price stood at $X per ton in 2022, surging by 5.9% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, unvulcanized rubber import price increased by +40.3% against 2019 indices. The pace of growth appeared the most rapid in 2015 an increase of 59%. The import price peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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