Morocco: Cement Market 2024

Cement Market Size in Morocco

The Moroccan cement market reduced to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption recorded a slight descent. The pace of growth was the most pronounced in 2018 with an increase of 3.7% against the previous year. Cement consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Cement Production in Morocco

In value terms, cement production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2018 with an increase of 4.3% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Cement Exports

Exports from Morocco

In 2022, overseas shipments of cement increased by 78% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, faced a dramatic contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 55,412%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, cement exports surged to $X in 2022. Overall, exports, however, showed a dramatic shrinkage. The growth pace was the most rapid in 2021 when exports increased by 4,774%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Gambia (X tons) was the main destination for cement exports from Morocco, accounting for a 96% share of total exports. Moreover, cement exports to Gambia exceeded the volume sent to the second major destination, the UK (X tons), more than tenfold. The third position in this ranking was held by Cameroon (X tons), with a 0.1% share.

From 2012 to 2022, the average annual growth rate of volume to Gambia amounted to +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Cameroon (-45.8% per year).

In value terms, Gambia ($X) remains the key foreign market for cement exports from Morocco, comprising 83% of total exports. The second position in the ranking was held by the UK ($X), with a 15% share of total exports. It was followed by Cote d'Ivoire, with a 0.9% share.

From 2012 to 2022, the average annual growth rate of value to Gambia totaled +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Cote d'Ivoire (-45.8% per year).

Export Prices by Country

The average cement export price stood at $X per ton in 2022, rising by 22% against the previous year. Over the period under review, the export price, however, saw a perceptible curtailment. The pace of growth appeared the most rapid in 2020 when the average export price increased by 708% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+33.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cement Imports

Imports into Morocco

Cement imports into Morocco fell to X tons in 2022, waning by -5.5% on 2021 figures. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 29% against the previous year. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, cement imports rose slightly to $X in 2022. The total import value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 49% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Turkey (X tons), Egypt (X tons) and Spain (X tons) were the main suppliers of cement imports to Morocco, with a combined 92% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +14.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cement suppliers to Morocco were Turkey ($X), Egypt ($X) and Spain ($X), together accounting for 88% of total imports. Tunisia and France lagged somewhat behind, together accounting for a further 11%.

Tunisia, with a CAGR of +15.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cement import price stood at $X per ton in 2022, rising by 9.7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 16%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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