Report Update Nov 1, 2024

Iraq - Urea - Market Analysis, Forecast, Size, Trends and Insights

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Iraq: Urea Market 2024

Urea Market Size in Iraq

In 2022, the Iraqi urea market decreased by -0.6% to $X, falling for the third consecutive year after five years of growth. In general, consumption continues to indicate a relatively flat trend pattern. Urea consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Urea Production in Iraq

In value terms, urea production stood at $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by 75% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Urea Exports

Exports from Iraq

In 2022, shipments abroad of urea was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a perceptible curtailment. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, urea exports surged to $X in 2022. Overall, exports, however, showed a pronounced shrinkage. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lebanon (X tons) was the main destination for urea exports from Iraq, with a 53% share of total exports. Moreover, urea exports to Lebanon exceeded the volume sent to the second major destination, Turkey (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Lebanon stood at -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+26.6% per year) and Jordan (-11.5% per year).

In value terms, the largest markets for urea exported from Iraq were Turkey ($X), Jordan ($X) and Lebanon ($X).

Turkey, with a CAGR of +29.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average urea export price amounted to $X per ton, growing by 8.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2018 an increase of 9.3%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a 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 Turkey ($X per ton), while the average price for exports to Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+6.3%), while the prices for the other major destinations experienced mixed trend patterns.

Urea Imports

Imports into Iraq

In 2022, supplies from abroad of urea was finally on the rise to reach X tons after two years of decline. In general, imports, however, recorded a dramatic descent. The most prominent rate of growth was recorded in 2019 with an increase of 186%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, urea imports soared to $X in 2022. Overall, imports, however, continue to indicate a sharp decline. The most prominent rate of growth was recorded in 2019 with an increase of 165%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Iran (X tons) was the main urea supplier to Iraq, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Iran totaled -19.9%.

In value terms, Iran ($X) constituted the largest supplier of urea to Iraq.

From 2012 to 2022, the average annual growth rate of value from Iran stood at -17.8%.

Import Prices by Country

In 2022, the average urea import price amounted to $X per ton, dropping by -1.7% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 36% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Iran.

From 2012 to 2022, the rate of growth in terms of prices for Iran amounted to +2.6% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for urea in the world?

The country with the largest volume of urea consumption was India, comprising approx. 26% of total volume. Moreover, urea consumption in India exceeded the figures recorded by the second-largest consumer, China, threefold. The United States ranked third in terms of total consumption with a 5.9% share.

What are the largest producers of urea in the world?

The countries with the highest volumes of urea production in 2021 were India, China and Russia, together accounting for 41% of global production. These countries were followed by Iran, Indonesia, Pakistan, Qatar, Saudi Arabia, Oman, Canada, the United Arab Emirates, Algeria and Vietnam, which together accounted for a further 39%.

What are the leading suppliers of urea to Iraq?

In value terms, Iran constituted the largest supplier of urea to Iraq, comprising 90% of total imports. The second position in the ranking was occupied by Russia, with a 9% share of total imports.

What is the average export price for urea in Iraq?

The average urea export price stood at $293 per ton in 2021, which is down by -4.1% against the previous year.

What is the average import price for urea in Iraq?

The average urea import price stood at $322 per ton in 2021, picking up by 19% against the previous year.

This report provides an in-depth analysis of the urea market in Iraq. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4001 -

Country coverage:

Iraq

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Iraq
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023