Morocco: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Morocco

The Moroccan lubricating oil additive market surged to $X in 2021, jumping by 21% 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). The market value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in years to come.

Lubricating Oil Additive Exports

Exports from Morocco

In 2021, the amount of additives for lubricating oils exported from Morocco fell modestly to X tons, waning by -3.1% on the year before. Over the period under review, exports recorded a pronounced curtailment. The pace of growth was the most pronounced in 2017 when exports increased by 219% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, lubricating oil additive exports soared to $X in 2021. In general, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 163% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Senegal (X tons) was the main destination for lubricating oil additive exports from Morocco, accounting for a 83% share of total exports. Moreover, lubricating oil additive exports to Senegal exceeded the volume sent to the second major destination, Gambia (X kg), tenfold. The third position in this ranking was held by the United Arab Emirates (X kg), with a 2.1% share.

From 2012 to 2021, the average annual growth rate of volume to Senegal stood at +25.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gambia (-16.5% per year) and the United Arab Emirates (0.0% per year).

In value terms, Senegal ($X) remains the key foreign market for additives for lubricating oils exports from Morocco, comprising 90% of total exports. The second position in the ranking was held by Gambia ($X), with a 1.6% share of total exports. It was followed by the United Arab Emirates, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Senegal stood at +16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gambia (+0.2% per year) and the United Arab Emirates (0.0% per year).

Export Prices by Country

The average lubricating oil additive export price stood at $X per ton in 2021, rising by 29% against the previous year. Overall, the export price, however, saw a abrupt curtailment. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while the average price for exports to Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Gambia (+20.0%), while the prices for the other major destinations experienced a decline.

Lubricating Oil Additive Imports

Imports into Morocco

In 2021, the amount of additives for lubricating oils imported into Morocco soared to X tons, with an increase of 37% on the previous year. In general, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.1% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 51%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, lubricating oil additive imports totaled $X in 2021. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 51%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, France (X tons) constituted the largest lubricating oil additive supplier to Morocco, with a 28% share of total imports. Moreover, lubricating oil additive imports from France exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. The third position in this ranking was held by Libya (X tons), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France amounted to -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-4.6% per year) and Libya (0.0% per year).

In value terms, France ($X) constituted the largest supplier of additives for lubricating oils to Morocco, comprising 29% of total imports. The second position in the ranking was held by Belgium ($X), with an 8.8% share of total imports. It was followed by Italy, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France totaled -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-7.1% per year) and Italy (-6.5% per year).

Import Prices by Country

In 2021, the average lubricating oil additive import price amounted to $X per ton, dropping by -16.5% against the previous year. Overall, the import price recorded a pronounced decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 8.3%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Libya ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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