Morocco: Steel Plaited Band Market 2024

Steel Plaited Band Market Size in Morocco

The Moroccan steel plaited band market soared to $X in 2022, rising by 50% 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, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +78.7% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Steel Plaited Band Exports

Exports from Morocco

In 2022, the amount of iron or steel plaited bands and slings exported from Morocco soared to X tons, growing by 79% on the previous year. Overall, exports posted a resilient expansion. The growth pace was the most rapid in 2015 when exports increased by 786%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, steel plaited band exports soared to $X in 2022. Over the period under review, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2015 with an increase of 334%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Cote d'Ivoire (X tons), France (X tons) and Belgium (X tons) were the main destinations of steel plaited band exports from Morocco, with a combined 89% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cote d'Ivoire (with a CAGR of +117.0%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Cote d'Ivoire ($X) and Mauritania ($X) appeared to be the largest markets for steel plaited band exported from Morocco worldwide, with a combined 91% share of total exports.

In terms of the main countries of destination, Cote d'Ivoire, with a CAGR of +105.0%, recorded the highest growth rate of 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

The average steel plaited band export price stood at $X per ton in 2022, dropping by -12.5% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2021 an increase of 99% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Spain ($X per ton), while the average price for exports to Belgium ($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 (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Plaited Band Imports

Imports into Morocco

In 2022, the amount of iron or steel plaited bands and slings imported into Morocco soared to X tons, jumping by 94% on the previous year. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, steel plaited band imports skyrocketed to $X in 2022. Overall, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.5% against 2019 indices. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Spain (X tons), China (X tons) and Belarus (X tons) were the main suppliers of steel plaited band imports to Morocco, with a combined 77% share of total imports. Italy, Turkey, Germany, Portugal and South Korea lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +82.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), China ($X) and Italy ($X) were the largest steel plaited band suppliers to Morocco, together comprising 67% of total imports. Germany, Turkey, Belarus, Portugal and South Korea lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Turkey, with a CAGR of +94.2%, 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

The average steel plaited band import price stood at $X per ton in 2022, which is down by -29.9% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 34%. As a result, import price attained the peak level of $X per ton, and then shrank notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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