Updated Nov 26, 2022 17:04

Sulphur Market in Iraq

Market Overview
The Iraqi sulphur market surged to $ in , with an increase of % 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). Overall, consumption enjoyed a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

In value terms, sulphur production skyrocketed to $ in estimated in export price. In general, production saw a significant expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.


Consumption
In , the amount of sulphur consumed in Iraq contracted to tons, with a decrease of -% against the previous year. Overall, consumption, however, continues to indicate a significant increase. As a result, consumption reached the peak volume of tons, and then contracted in the following year.

The value of the sulphur market in Iraq dropped to $ in , with a decrease of -% 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, enjoyed a significant increase. As a result, consumption attained the peak level of $, and then declined in the following year.


Market Forecast
The sulphur market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, imports of sulphur in Iraq were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for sulphur. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Iraq remains a net exporter of sulphur; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.