Iraq: Glass Fiber Market 2022

Glass Fiber Market Size in Iraq

In 2021, the Iraqi glass fiber market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a abrupt decrease. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Glass Fiber Exports

Exports from Iraq

In 2016, overseas shipments of voiles, webs, mats and other articles of glass fibers decreased by 0% to X kg for the first time since 2013, thus ending a two-year declining trend. In general, exports showed a significant increase. The growth pace was the most rapid in 2013 with an increase of 169%. As a result, the exports attained the peak of X kg. From 2014 to 2016, the growth of the exports remained at a somewhat lower figure.

In value terms, glass fiber exports stood at $X in 2016. Overall, exports saw significant growth. The growth pace was the most rapid in 2013 with an increase of 701% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2016, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Turkey (X kg) was the main destination for glass fiber exports from Iraq, with a 98% share of total exports. It was followed by Oman (X kg), with a 2.4% share of total exports.

From 2012 to 2016, the average annual growth rate of volume to Turkey amounted to +22.9%.

From 2012 to 2016, the average annual rate of growth in terms of value to Turkey amounted to +20.8%.

Export Prices by Country

In 2016, the average glass fiber export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 198% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2016, the the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Oman ($X per ton), while the average price for exports to Turkey totaled $X per ton.

From 2012 to 2016, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (-1.7%).

Glass Fiber Imports

Imports into Iraq

After two years of decline, purchases abroad of voiles, webs, mats and other articles of glass fibers increased by 27% to X tons in 2021. In general, imports, however, showed a deep reduction. The pace of growth was the most pronounced in 2013 when imports increased by 150%. 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, glass fiber imports soared to $X in 2021. Overall, imports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of 121% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Turkey (X tons), the United Arab Emirates (X tons) and China (X tons) were the main suppliers of glass fiber imports to Iraq, with a combined 87% share of total imports. Kuwait, the United States and Saudi Arabia lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +22.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fiber suppliers to Iraq were Turkey ($X), the United Arab Emirates ($X) and China ($X), with a combined 81% share of total imports.

The United Arab Emirates, with a CAGR of +19.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass fiber import price stood at $X per ton in 2021, shrinking by -3.7% against the previous year. Over the period under review, the import price, however, enjoyed a tangible increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 43%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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