Morocco: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in Morocco

The Moroccan iron and steel wire market expanded markedly to $X in 2021, growing by 14% 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). The market value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Iron and steel wire consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Exports of Iron and Steel Wire

Exports from Morocco

In 2021, after two years of decline, there was significant growth in overseas shipments of iron and steel wire, when their volume increased by 605% to X tons. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 2,652% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; afterwards, it flattened through to 2021.

In value terms, iron and steel wire exports surged to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 1,830% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; afterwards, it flattened through to 2021.

Exports by Country

Mauritania (X tons), France (X tons) and Senegal (X tons) were the main destinations of iron and steel wire exports from Morocco, with a combined 92% share of total exports. These countries were followed by Kenya, Mali and Gabon, which together accounted for a further 5.5%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kenya (with a CAGR of +258.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron and steel wire exported from Morocco were France ($X), Mauritania ($X) and Senegal ($X), together accounting for 91% of total exports. Kenya, Mali and Gabon lagged somewhat behind, together accounting for a further 6.3%.

In terms of the main countries of destination, Kenya, with a CAGR of +234.3%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the average iron and steel wire export price amounted to $X per ton, approximately equating the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 67%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Senegal ($X per ton) and Kenya ($X per ton), while the average price for exports to Gabon ($X per ton) and Mauritania ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into Morocco

In 2021, overseas purchases of iron and steel wire decreased by -3% to X tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 17% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, iron and steel wire imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), Spain (X tons) and Tunisia (X tons) were the main suppliers of iron and steel wire imports to Morocco, together comprising 74% of total imports. Portugal, China, Thailand, Italy and Egypt lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +681.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire suppliers to Morocco were Turkey ($X), Spain ($X) and Portugal ($X), together accounting for 70% of total imports. Tunisia, China, Italy, Thailand and Egypt lagged somewhat behind, together accounting for a further 22%.

Thailand, with a CAGR of +552.2%, recorded the highest growth rate of 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 iron and steel wire import price amounted to $X per ton, increasing by 28% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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