Investing in a ceramics factory project in Iraq represents a significant investment opportunity in 2022, particularly in light of Iraq’s Vision 2030, which aims to advance the national economy, rebuild and strengthen the foundations of the non-oil economy, and establish a prominent position among global economies.
What is a ceramic factory?
The ceramics industry is growing globally. Ceramic materials are a vital component in many areas, including automobile engines, toilets, glass, telephone lines, and electrically conductive materials. Ceramics are a cornerstone of the construction sector, with ceramic factories producing tiles, floor tiles, and wall tiles in a variety of colors and sizes. The ceramics factory targets homes, public facilities, ceramic showrooms, and construction and contracting companies.
Global data and statistics indicate that the global construction sector is currently valued at US$12.63 trillion, and is expected to grow at a compound annual growth rate (CAGR) of 7.4% by 2028 to US$22.07 trillion.
The global ceramics market is estimated at approximately US$247.4 billion in 2020 and is expected to grow by 4.4% over the coming years, reaching US$348 billion by 2028. Recent reports from the International Trade Centre indicate that the Asia-Pacific region accounts for 40% of global ceramics market revenues. This confirms that a ceramics factory project in Iraq represents an attractive investment opportunity for those seeking to seize this lucrative investment opportunity in 2022.
Why is a ceramic factory in Iraq an investment opportunity?
Mashroo3k Consulting Company revealed, through a recent statistic, that Iraq’s average imports of ceramic products amount to $582,562,000. Iraq’s ceramic imports amounted to approximately $299,449,000 in 2017. Iraq’s total ceramic imports are expected to rise to $348,071,000 by 2021, indicating that ceramic industry projects are attracting increasing interest in Iraq during 2022.
For more details on the latest economic indicators and investment opportunities in Iraq, as well as the most prominent funding agencies supporting successful investment projects in Iraq, you can contact the investor services team at Mashroo3k Consulting.
