Morocco: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Morocco

The Moroccan extruded solid rubber rod market rose remarkably to $X in 2022, increasing by 14% 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). Overall, consumption showed a significant increase. Extruded solid rubber rod consumption peaked in 2022 and is expected to retain growth in years to come.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from Morocco

In 2022, exports of extruded solid rubber rods and profiles from Morocco dropped rapidly to X tons, waning by -30.8% against the previous year. Over the period under review, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 3,947%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, extruded solid rubber rod exports reduced markedly to $X in 2022. Overall, exports, however, posted a slight increase. The most prominent rate of growth was recorded in 2017 with an increase of 1,834% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Spain (X tons) was the main destination for extruded solid rubber rod exports from Morocco, with a 59% share of total exports. Moreover, extruded solid rubber rod exports to Spain exceeded the volume sent to the second major destination, Italy (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Spain stood at +59.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+206.5% per year) and Mauritania (+13.0% per year).

In value terms, the largest markets for extruded solid rubber rod exported from Morocco were Spain ($X), Italy ($X) and Mauritania ($X), with a combined 99.9% share of total exports.

Italy, with a CAGR of +125.1%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average extruded solid rubber rod export price amounted to $X per ton, reducing by -5.4% against the previous year. Over the period under review, the export price faced a drastic downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by 94% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Mauritania ($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 Mauritania (-11.2%), while the prices for the other major destinations experienced a decline.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Morocco

In 2022, approx. X tons of extruded solid rubber rods and profiles were imported into Morocco; picking up by 5.3% on 2021. Over the period under review, imports showed a significant increase. The growth pace was the most rapid in 2018 with an increase of 180% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, extruded solid rubber rod imports skyrocketed to $X in 2022. In general, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2018 with an increase of 112% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of extruded solid rubber rod to Morocco, accounting for a 90% share of total imports. It was followed by Portugal (X tons), with a 2.7% share of total imports. France (X tons) ranked third in terms of total imports with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled +65.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+9.4% per year) and France (-3.8% per year).

In value terms, Spain ($X) constituted the largest supplier of extruded solid rubber rods and profiles to Morocco, comprising 85% of total imports. The second position in the ranking was held by France ($X), with a 4.3% share of total imports. It was followed by Portugal, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +62.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-0.5% per year) and Portugal (+6.9% per year).

Import Prices by Country

The average extruded solid rubber rod import price stood at $X per ton in 2022, surging by 11% against the previous year. Over the period under review, the import price, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2019 when the average import price increased by 17% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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