Iraq flat glass market size is projected to grow at a CAGR of 7.2% during 2021-27

The Iraq flat glass market revenues were dominated by the Construction and Infrastructure sector in the recent past - 6Wresearch.

The Iraq flat glass market witnessed moderate growth during 2017-2019, underpinned by the growing real estate market and several projects being launched under the domain of hospitality, ports and hotels, along with the influx of FDI in the commercial and retail sectors. Additionally, the adoption of renewable and solar energy by the government sector would further aid the growth of the flat glass market in the upcoming years. However, a downward trajectory in the market revenues was witnessed during the year 2020 due to the coronavirus outbreak all across the globe. The sudden halt in the economic activities ranging from construction activities to sales of the automobile had resulted in a decline in investments across various sectors of Iraq’s economy.

According to 6Wresearch, Iraq flat glass market size is projected to grow at a CAGR of 7.2% during 2021-27. On account of rising urbanization, industrialization and flourishing automobile sales, the flat glass market in Iraq is maintaining an upward trajectory due to its rising demand from key application areas, especially the construction sector followed by the automotive sector. The construction & Infrastructure sector accounts for the maximum percent of market share and thus indulges in the maximum usage of flat glass, it is often considered as a building block for several types of modern architecture and interior applications.

According to Alpana Tyagi, Senior Research Analyst, 6Wresearch, “based on end-use industry, construction and infrastructure sector acquired a major share in the overall Iraq flat glass market revenues and would take lead to maintain its pre-eminence over the coming period as well. The government has proposed various commercial as well as residential projects like the Baghdad Air Force Club Shopping Mall Project, Al Habayish Residential Complex Project and others involving the development of hospitals, universities, shopping complex etc. which would further strengthen the demand for flat glass in the construction & infrastructure domain over the coming years followed by the automotive sector.”

According to Ananya Consul, Research Associate, 6Wresearch, “Basic float glass is the most widely used type glass in the Iraq flat glass market due to its hefty amount of usage in almost every sector due to its robustness against scratches, higher light transmission and temperature resistance properties. The float glass is widely available and can be produced in a different range of colours and opacities which makes it the most extensively used glass in the building and construction sector also. It can also be moulded into other refined glasses if required. “

Iraq Flat Glass Market (2021-2027F) report provides an in-depth analysis with 14 figures and 8 tables, covered in 79 pages. The report estimates and forecasts the Iraq flat glass market by types, technology and end-use industry. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.