Morocco: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Morocco

The Moroccan glass fibres and wool market contracted significantly to $X in 2022, waning by -32.8% 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, however, continues to indicate resilient growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Exports of Glass Fibres And Glass Wool

Exports from Morocco

In 2022, the amount of glass fibres and glass wool exported from Morocco dropped markedly to X tons, reducing by -36.1% compared with the year before. Over the period under review, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 51% against the previous year. The exports peaked at X tons in 2021, and then dropped significantly in the following year.

In value terms, glass fibres and wool exports rose notably to $X in 2022. In general, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 84% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for glass fibres and wool exports from Morocco, with a 58% share of total exports. Moreover, glass fibres and wool exports to Spain exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was held by France (X tons), with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain totaled +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+150.4% per year) and France (+159.9% per year).

In value terms, Spain ($X), Germany ($X) and France ($X) appeared to be the largest markets for glass fibres and wool exported from Morocco worldwide, together accounting for 76% of total exports.

Germany, with a CAGR of +216.4%, saw the highest growth rate of 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

The average glass fibres and wool export price stood at $X per ton in 2022, jumping by 65% against the previous year. In general, the export price saw prominent growth. The export price peaked at $X per ton in 2018; however, from 2019 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 China ($X per ton), while the average price for exports to Spain ($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 Germany (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Morocco

Glass fibres and wool imports into Morocco reduced dramatically to X tons in 2022, with a decrease of -45.5% on the year before. In general, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of 103% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibres and wool imports reduced notably to $X in 2022. Overall, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2017 with an increase of 103% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibres and wool supplier to Morocco, with a 62% share of total imports. Moreover, glass fibres and wool imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The third position in this ranking was taken by France (X tons), with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+10.3% per year) and France (+15.1% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass wool to Morocco, comprising 57% of total imports. The second position in the ranking was held by Spain ($X), with a 12% share of total imports. It was followed by Austria, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+6.3% per year) and Austria (+56.0% per year).

Import Prices by Country

In 2022, the average glass fibres and wool import price amounted to $X per ton, jumping by 43% against the previous year. Overall, the import price, however, showed a mild slump. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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