Morocco: Epoxide Resin Market 2024

Epoxide Resin Market Size in Morocco

In 2021, the Moroccan epoxide resin market increased by 1.4% to $X, rising for the sixth year in a row after two years of decline. Over the period under review, consumption, however, recorded a prominent expansion. Epoxide resin consumption peaked in 2021 and is likely to continue growth in years to come.

Epoxide Resin Exports

Exports from Morocco

For the fourth consecutive year, Morocco recorded decline in shipments abroad of epoxide resins, which decreased by -82% to X tons in 2021. Over the period under review, exports, however, saw strong growth. The growth pace was the most rapid in 2017 with an increase of 23,565%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, epoxide resin exports declined remarkably to $X in 2021. In general, exports, however, posted a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by 8,075% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Mauritania (X tons) was the main destination for epoxide resin exports from Morocco, accounting for a 63% share of total exports. Moreover, epoxide resin exports to Mauritania exceeded the volume sent to the second major destination, Spain (X tons), threefold. The third position in this ranking was held by Gabon (X kg), with a 6.2% share.

From 2013 to 2021, the average annual rate of growth in terms of volume to Mauritania totaled +51.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-5.0% per year) and Gabon (+68.7% per year).

In value terms, Mauritania ($X), Gabon ($X) and Spain ($X) constituted the largest markets for epoxide resin exported from Morocco worldwide, with a combined 80% share of total exports.

Mauritania, with a CAGR of +38.3%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average epoxide resin export price stood at $X per ton in 2021, surging by 28% against the previous year. Over the period under review, the export price continues to indicate a temperate expansion. The most prominent rate of growth was recorded in 2016 an increase of 141% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

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

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+2.1%), while the prices for the other major destinations experienced a decline.

Epoxide Resin Imports

Imports into Morocco

In 2021, purchases abroad of epoxide resins decreased by -9% to X tons for the first time since 2015, thus ending a five-year rising trend. Overall, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2013 when imports increased by 135%. Imports peaked at X tons in 2020, and then shrank in the following year.

In value terms, epoxide resin imports rose slightly to $X in 2021. Over the period under review, imports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 136% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Spain (X tons) and South Korea (X tons) were the main suppliers of epoxide resin imports to Morocco, together accounting for 56% of total imports. Egypt, France, Japan, India, China, Turkey, Saudi Arabia and Italy lagged somewhat behind, together comprising a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +528.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest epoxide resin suppliers to Morocco were Germany ($X), South Korea ($X) and Spain ($X), with a combined 53% share of total imports. These countries were followed by France, Egypt, Japan, India, China, Turkey, Italy and Saudi Arabia, which together accounted for a further 38%.

In terms of the main suppliers, Japan, with a CAGR of +306.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average epoxide resin import price amounted to $X per ton, rising by 13% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 18%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :