Investing in a plastic pipe 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 plastic pipe factory project?
Plastic pipes are used to transport drinking water, wastewater, chemical waste, heating and cooling fluids, food, gases, and compressed air. They are also a key component in the design of irrigation systems for farms, gardens, and parks.
The latest statistics from Mashroo3k Consulting indicate that a plastic pipe factory project represents an investment opportunity in Iraq, as its products contribute significantly to meeting the growing local market need for pipes (PVC, UPVC, CPVC).
In 2020, the global plastic pipe market size reached 24.51 million metric tons. The global plastic pipe market is expected to grow at a compound annual growth rate (CAGR) of 4.3%, reaching 30.25 million metric tons by 2026.
The global plastic pipe market was valued at over US$59 billion in the same year. Recent economic studies predict a boom in the plastic pipe market, with its value rising at a compound annual growth rate of 5.9%, reaching US$101.6 billion by 2030.
Data from the International Trade Center shows that Iraq’s plastic pipe imports were valued at approximately $273.3 million in 2016. In 2017, Iraq’s total plastic pipe imports reached approximately $313.6 million, reaching $353.8 million in 2020.
Mashroo3k Consulting Company confirms that a plastic pipe factory in Iraq represents an investment opportunity to balance the increasing import rate of plastic pipes and the rising local demand for plastic pipe products.
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.
