Morocco: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Morocco

In 2021, the Moroccan glass fibre chopped strand market decreased by -35.4% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, posted a significant increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Exports of Glass Fibre Chopped Strands

Exports from Morocco

In 2021, overseas shipments of glass fibre chopped strands increased by 8% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports saw tangible growth. The most prominent rate of growth was recorded in 2018 when exports increased by 946%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, glass fibre chopped strand exports amounted to $X in 2021. Overall, exports recorded a moderate expansion. The pace of growth appeared the most rapid in 2018 with an increase of 1,186%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons) was the main destination for glass fibre chopped strand exports from Morocco, with a 42% share of total exports. Moreover, glass fibre chopped strand exports to France exceeded the volume sent to the second major destination, Oman (X kg), threefold.

From 2012 to 2021, the average annual growth rate of volume to France totaled +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (0.0% per year) and Germany (-91.7% per year).

In value terms, the largest markets for glass fibre chopped strand exported from Morocco were France ($X), Oman ($X) and Germany ($X), together comprising 63% of total exports.

In terms of the main countries of destination, Oman, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average glass fibre chopped strand export price amounted to $X per ton, approximately reflecting the previous year. In general, the export price saw a perceptible setback. The pace of growth was the most pronounced in 2014 when the average export price increased by 329%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to France ($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 Germany (+207.8%).

Imports of Glass Fibre Chopped Strands

Imports into Morocco

In 2021, overseas purchases of glass fibre chopped strands decreased by -42.5% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 374% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, glass fibre chopped strand imports declined rapidly to $X in 2021. In general, imports, however, saw a significant increase. The growth pace was the most rapid in 2013 when imports increased by 277% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Egypt (X tons) constituted the largest supplier of glass fibre chopped strand to Morocco, accounting for a 42% share of total imports. Moreover, glass fibre chopped strand imports from Egypt exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was held by China (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Egypt amounted to -47.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+75.3% per year) and China (+41.5% per year).

In value terms, Japan ($X), Egypt ($X) and China ($X) appeared to be the largest glass fibre chopped strand suppliers to Morocco, together accounting for 62% of total imports.

Among the main suppliers, Japan, with a CAGR of +84.8%, saw 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 glass fibre chopped strand import price amounted to $X per ton, increasing by 41% against the previous year. In general, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glass fibre chopped strand import price increased by +97.2% against 2019 indices. As a result, import price reached 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 Spain ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+66.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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