Morocco: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in Morocco

For the eleventh year in a row, the Moroccan high-tenacity filament aramids yarn market recorded growth in sales value, which increased by 36% to $X in 2022. Overall, consumption posted a significant increase. High-tenacity filament aramids yarn consumption peaked in 2022 and is expected to retain growth in years to come.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports from Morocco

For the fifth year in a row, Morocco recorded growth in shipments abroad of high-tenacity filament yarn of aramids, which increased by 676% to X tons in 2022. Over the period under review, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, high-tenacity filament aramids yarn exports soared to $X in 2022. Overall, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for high-tenacity filament aramids yarn exports from Morocco, with a 89% share of total exports. Moreover, high-tenacity filament aramids yarn exports to France exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold.

From 2016 to 2022, the average annual growth rate of volume to France amounted to +140.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and the Netherlands (+96.7% per year).

In value terms, France ($X) remains the key foreign market for high-tenacity filament yarn of aramids exports from Morocco, comprising 85% of total exports. The second position in the ranking was taken by the United States ($X), with a 12% share of total exports.

From 2016 to 2022, the average annual rate of growth in terms of value to France stood at +157.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and the Netherlands (-50.8% per year).

Export Prices by Country

In 2022, the average high-tenacity filament aramids yarn export price amounted to $X per ton, reducing by -15.6% against the previous year. In general, the export price, however, recorded a resilient increase. The growth pace was the most rapid in 2021 an increase of 12% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped markedly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+7.4%).

Imports of High-Tenacity Filament Yarn Of Aramids

Imports into Morocco

High-tenacity filament aramids yarn imports into Morocco soared to X tons in 2022, jumping by 28% compared with the previous year's figure. In general, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 2,496%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, high-tenacity filament aramids yarn imports skyrocketed to $X in 2022. Overall, imports showed a significant increase. The growth pace was the most rapid in 2016 with an increase of 1,606% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of high-tenacity filament aramids yarn to Morocco, with a 49% share of total imports. Moreover, high-tenacity filament aramids yarn imports from South Korea exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was held by China (X tons), with a 12% share.

From 2015 to 2022, the average annual rate of growth in terms of volume from South Korea stood at +209.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+252.9% per year) and China (+107.4% per year).

In value terms, South Korea ($X) constituted the largest supplier of high-tenacity filament yarn of aramids to Morocco, comprising 49% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 19% share of total imports. It was followed by China, with a 9.5% share.

From 2015 to 2022, the average annual growth rate of value from South Korea stood at +216.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+225.8% per year) and China (+138.4% per year).

Import Prices by Country

The average high-tenacity filament aramids yarn import price stood at $X per ton in 2022, rising by 10% against the previous year. In general, the import price continues to indicate a remarkable increase. The growth pace was the most rapid in 2019 an increase of 177%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2015 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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