Morocco: Crude Glycerol Market 2024

Crude Glycerol Market Size in Morocco

In 2021, the Moroccan crude glycerol market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -32.3% against 2017 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Crude Glycerol Production in Morocco

In value terms, crude glycerol production rose rapidly to $X in 2021 estimated in export price. Over the period under review, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -33.7% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of 31% against the previous year. Crude glycerol production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Crude Glycerol Exports

Exports from Morocco

In 2021, overseas shipments of crude glycerol, glycerine waters and lyes decreased by -38.3% to X tons for the first time since 2014, thus ending a six-year rising trend. Over the period under review, exports, however, saw a tangible increase. The most prominent rate of growth was recorded in 2018 with an increase of 134%. Over the period under review, the exports reached the maximum at X tons in 2020, and then fell sharply in the following year.

In value terms, crude glycerol exports fell to $X in 2021. Overall, exports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2018 when exports increased by 148% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for crude glycerol exports from Morocco, accounting for a 90% share of total exports. Moreover, crude glycerol exports to Italy exceeded the volume sent to the second major destination, Iceland (X kg), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy totaled +2.1%.

In value terms, Italy ($X) emerged as the key foreign market for crude glycerol, glycerine waters and lyes exports from Morocco, comprising 100% of total exports. The second position in the ranking was taken by Iceland ($X), with a 0.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Italy totaled +8.1%.

Export Prices by Country

The average crude glycerol export price stood at $X per ton in 2021, increasing by 42% against the previous year. Overall, the export price posted tangible growth. The most prominent rate of growth was recorded in 2013 an increase of 565%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a 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 Iceland stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+83.6%), while the prices for the other major destinations experienced mixed trend patterns.

Crude Glycerol Imports

Imports into Morocco

In 2021, crude glycerol imports into Morocco soared to X tons, surging by 617% compared with the previous year's figure. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 6,481%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, crude glycerol imports surged to $X in 2021. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 5,873% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

France (X tons), the Netherlands (X tons) and Spain (X tons) were the main suppliers of crude glycerol imports to Morocco, with a combined 40% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +78.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crude glycerol suppliers to Morocco were France ($X), the Netherlands ($X) and Spain ($X), together comprising 64% of total imports.

Among the main suppliers, Spain, with a CAGR of +76.8%, recorded the highest growth rate of 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 crude glycerol import price amounted to $X per ton, with a decrease of -20.3% against the previous year. In general, the import price showed a pronounced descent. The pace of growth appeared the most rapid in 2017 when the average import price increased by 5.6% against the previous year. The import price peaked at $X per ton in 2020, and then contracted rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+47.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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