Morocco: Market for Iron or Steel Hot-Worked Helical Springs 2024

Market Size for Iron or Steel Hot-Worked Helical Springs in Morocco

In 2021, the Moroccan metal hot-worked helical spring market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded a resilient increase. Metal hot-worked helical spring consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from Morocco

Metal hot-worked helical spring exports from Morocco declined to X kg in 2021, dropping by -11.1% on the previous year. Over the period under review, exports, however, posted a slight increase. The growth pace was the most rapid in 2016 with an increase of 353% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, metal hot-worked helical spring exports fell remarkably to $X in 2021. Overall, exports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by 178%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X kg), Romania (X kg) and Cote d'Ivoire (X kg) were the main destinations of metal hot-worked helical spring exports from Morocco, with a combined 66% share of total exports. These countries were followed by Poland, Turkey, China and Portugal, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +60.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for iron or steel hot-worked helical springs exports from Morocco, comprising 34% of total exports. The second position in the ranking was held by Poland ($X), with a 13% share of total exports. It was followed by Romania, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+86.1% per year) and Romania (+60.4% per year).

Export Prices by Country

The average metal hot-worked helical spring export price stood at $X per ton in 2021, declining by -23.1% against the previous year. In general, the export price, however, continues to indicate a notable expansion. The pace of growth appeared the most rapid in 2013 an increase of 148%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Sudan (+162.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports into Morocco

In 2021, supplies from abroad of iron or steel hot-worked helical springs increased by 72% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 303%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, metal hot-worked helical spring imports surged to $X in 2021. In general, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2015 when imports increased by 457% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest metal hot-worked helical spring supplier to Morocco, accounting for a 8% share of total imports. Moreover, metal hot-worked helical spring imports from Turkey exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +27.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-20.4% per year) and Germany (+7.2% per year).

In value terms, France ($X), Germany ($X) and Turkey ($X) were the largest metal hot-worked helical spring suppliers to Morocco, with a combined 10% share of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +27.6%, 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

The average metal hot-worked helical spring import price stood at $X per ton in 2021, waning by -7.5% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 60%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, 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 Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :