Morocco: Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size in Morocco

The Moroccan electrical insulating fittings market skyrocketed to $X in 2022, jumping by 15% against the previous year. Overall, consumption continues to indicate a buoyant increase. Electrical insulating fittings consumption peaked in 2022 and is expected to retain growth in the immediate term.

Electrical Insulating Fittings Production in Morocco

In value terms, electrical insulating fittings production fell modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 161% against the previous year. Electrical insulating fittings production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Electrical Insulating Fittings Exports

Exports from Morocco

In 2022, approx. X tons of electrical insulating fittings of plastics were exported from Morocco; declining by -53.9% compared with the previous year. In general, exports, however, posted significant growth. The growth pace was the most rapid in 2014 when exports increased by 3,676% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, electrical insulating fittings exports reduced markedly to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 5,609%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Spain (X tons) was the main destination for electrical insulating fittings exports from Morocco, accounting for a 70% share of total exports. Moreover, electrical insulating fittings exports to Spain exceeded the volume sent to the second major destination, the Czech Republic (X tons), more than tenfold. Germany (X tons) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume to Spain amounted to +67.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+63.1% per year) and Germany (+64.1% per year).

In value terms, Spain ($X) remains the key foreign market for electrical insulating fittings of plastics exports from Morocco, comprising 55% of total exports. The second position in the ranking was taken by Germany ($X), with a 6.9% share of total exports. It was followed by China, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value to Spain totaled +59.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+69.3% per year) and China (+288.6% per year).

Export Prices by Country

In 2022, the average electrical insulating fittings export price amounted to $X per ton, reducing by -29% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 51%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Spain ($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 Hungary (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulating Fittings Imports

Imports into Morocco

Electrical insulating fittings imports into Morocco rose remarkably to X tons in 2022, growing by 7.9% on the previous year. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 55% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, electrical insulating fittings imports fell to $X in 2022. In general, total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +18.0% against 2019 indices. The pace of growth was the most pronounced in 2016 when imports increased by 27% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

Germany (X tons), Spain (X tons) and China (X tons) were the main suppliers of electrical insulating fittings imports to Morocco, together comprising 54% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +73.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical insulating fittings suppliers to Morocco were Germany ($X), Spain ($X) and China ($X), with a combined 52% share of total imports.

China, with a CAGR of +74.0%, saw the highest growth rate of 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 electrical insulating fittings import price stood at $X per ton in 2022, with a decrease of -13% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electrical insulating fittings import price increased by +17.9% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 35%. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

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 ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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