Report Update Apr 1, 2024

Iraq - Iron and Steel - Market Analysis, Forecast, Size, Trends and Insights

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Iraq: Iron And Steel Market 2024

Iron And Steel Market Size in Iraq

The Iraqi iron and steel market surged to $X in 2021, rising by 422% 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, however, showed a noticeable downturn. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Iron And Steel Exports

Exports from Iraq

In 2016, the amount of iron and steel exported from Iraq amounted to X tons, approximately mirroring the previous year's figure. In general, exports recorded a significant increase. The smallest decline of 99.9% was in 2015. The exports peaked in 2016 and are expected to retain growth in years to come.

In value terms, iron and steel exports stood at $X in 2016. Overall, exports recorded a significant expansion. The smallest decline of 99.9% was in 2015. Over the period under review, the exports attained the peak figure in 2016 and are expected to retain growth in the immediate term.

Exports by Country

Qatar (X tons) was the main destination for iron and steel exports from Iraq, accounting for a approx. 100% share of total exports.

From 2014 to 2020, the average annual rate of growth in terms of volume to Qatar amounted to +622.5%.

In value terms, Qatar ($X) also remains the key foreign market for iron and steel exports from Iraq.

From 2014 to 2020, the average annual rate of growth in terms of value to Qatar amounted to +620.9%.

Export Prices by Country

The average iron and steel export price stood at less than $X per ton in 2020, leveling off at the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 a decrease of 99.9% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2020, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Qatar.

From 2014 to 2020, the rate of growth in terms of prices for Qatar amounted to -0.3% per year.

Iron And Steel Imports

Imports into Iraq

Iron and steel imports into Iraq surged to X tons in 2021, jumping by 438% against 2020 figures. Over the period under review, imports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2013 when imports increased by 722%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, iron and steel imports soared to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 507%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of iron and steel to Iraq, with a 71% share of total imports. Moreover, iron and steel imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Jordan (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+1.6% per year) and South Korea (+94.2% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of iron and steel to Iraq, comprising 76% of total imports. The second position in the ranking was held by Jordan ($X), with a 12% share of total imports. It was followed by Iran, with a 5% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates totaled -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+2.0% per year) and Iran (+7.5% per year).

Import Prices by Country

In 2021, the average iron and steel import price amounted to $X per ton, reducing by -8.1% against the previous year. Over the period under review, the import price, however, showed a notable increase. The pace of growth was the most pronounced in 2014 an increase of 102%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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 Iran ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron and steel in the world?

The country with the largest volume of iron and steel consumption was China, accounting for 64% of total volume. Moreover, iron and steel consumption in China exceeded the figures recorded by the second-largest consumer, Japan, more than tenfold. The third position in this ranking was taken by India, with a 5.8% share.

What are the largest producers of iron and steel in the world?

The country with the largest volume of iron and steel production was China, comprising approx. 63% of total volume. Moreover, iron and steel production in China exceeded the figures recorded by the second-largest producer, India, more than tenfold. Japan ranked third in terms of total production with a 5.9% share.

What are the leading suppliers of iron and steel to Iraq?

In value terms, the United Arab Emirates constituted the largest supplier of iron and steel to Iraq, comprising 76% of total imports. The second position in the ranking was held by Jordan, with a 12% share of total imports. It was followed by Iran, with a 5% share.

What are the leading importers of iron and steel from Iraq?

In value terms, Qatar remains the key foreign market for iron and steel exports from Iraq.

What is the average export price for iron and steel in Iraq?

The average iron and steel export price stood at less than $0.1 per ton in 2020, standing approx. at the previous year.

What is the average import price for iron and steel in Iraq?

The average iron and steel import price stood at $1,391 per ton in 2021, dropping by -8.1% against the previous year.

This report provides an in-depth analysis of the iron and steel 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:

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