Morocco: Market for Flat-Rolled Products Of Silicon-Electrical Steel 2024

Market Size for Flat-Rolled Products Of Silicon-Electrical Steel in Morocco

After three years of decline, the Moroccan silicon-electrical steel flat-rolled product market increased by 6.7% to $X in 2021. In general, consumption, however, showed a pronounced reduction. The growth pace was the most rapid in 2017 when the market value increased by 7.1%. Silicon-electrical steel flat-rolled product consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Flat-Rolled Products Of Silicon-Electrical Steel in Morocco

In value terms, silicon-electrical steel flat-rolled product production totaled $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable descent. The pace of growth was the most pronounced in 2017 when the production volume increased by 17%. Silicon-electrical steel flat-rolled product production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports from Morocco

In 2021, the amount of flat-rolled products of silicon-electrical steel exported from Morocco dropped significantly to X tons, reducing by -45.4% against 2020. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 9,929%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, silicon-electrical steel flat-rolled product exports dropped sharply to $X in 2021. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 13,710% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for silicon-electrical steel flat-rolled product exports from Morocco, with a 61% share of total exports. Moreover, silicon-electrical steel flat-rolled product exports to Italy exceeded the volume sent to the second major destination, North Macedonia (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy stood at +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+287.6% per year) and Tunisia (+138.5% per year).

In value terms, Italy ($X) remains the key foreign market for flat-rolled products of silicon-electrical steel exports from Morocco, comprising 61% of total exports. The second position in the ranking was taken by North Macedonia ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Italy stood at +21.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+452.5% per year) and Tunisia (+253.7% per year).

Export Prices by Country

In 2021, the average silicon-electrical steel flat-rolled product export price amounted to $X per ton, jumping by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2017 an increase of 38% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Italy ($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 Tunisia (+48.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports into Morocco

In 2021, after two years of decline, there was significant growth in purchases abroad of flat-rolled products of silicon-electrical steel, when their volume increased by 65% to X tons. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, silicon-electrical steel flat-rolled product imports soared to $X in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), France (X tons) and the Czech Republic (X tons) were the main suppliers of silicon-electrical steel flat-rolled product imports to Morocco, with a combined 47% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +58.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), France ($X) and the Czech Republic ($X) were the largest silicon-electrical steel flat-rolled product suppliers to Morocco, together accounting for 47% of total imports. Italy, Germany, South Korea, India, Russia and Poland lagged somewhat behind, together comprising a further 22%.

India, with a CAGR of +95.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 silicon-electrical steel flat-rolled product import price amounted to $X per ton, growing by 32% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+42.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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