Morocco: Metal Rivet Market 2024

Metal Rivet Market Size in Morocco

In 2022, the Moroccan metal rivet market increased by 51% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Metal Rivet Exports

Exports from Morocco

Metal rivet exports from Morocco soared to X tons in 2022, with an increase of 103% against 2021. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,061% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, metal rivet exports skyrocketed to $X in 2022. Overall, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 979%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X kg) was the main destination for metal rivet exports from Morocco, accounting for a 54% share of total exports. Moreover, metal rivet exports to France exceeded the volume sent to the second major destination, Spain (X kg), twofold.

From 2012 to 2022, the average annual growth rate of volume to France stood at +66.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+3.7% per year) and Portugal (0.0% per year).

In value terms, France ($X), Portugal ($X) and Spain ($X) appeared to be the largest markets for metal rivet exported from Morocco worldwide, with a combined 91% share of total exports.

In terms of the main countries of destination, France, with a CAGR of +77.2%, 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 mixed trend patterns.

Export Prices by Country

In 2022, the average metal rivet export price amounted to $X per ton, with an increase of 51% against the previous year. Overall, the export price, however, continues to indicate a mild curtailment. The pace of growth was the most pronounced in 2017 when the average export price increased by 441%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, 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 Portugal ($X per ton), while the average price for exports to Spain ($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 Guinea (+812.9%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Rivet Imports

Imports into Morocco

For the fifth year in a row, Morocco recorded growth in purchases abroad of iron or steel rivets, which increased by 33% to X tons in 2022. Over the period under review, imports showed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 70% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, metal rivet imports surged to $X in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.6% 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 +104.9% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), France (X tons) and Portugal (X tons) were the main suppliers of metal rivet imports to Morocco, together comprising 84% of total imports. Spain, Italy, Lebanon, the United Arab Emirates and Turkey lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +124.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of iron or steel rivets to Morocco, comprising 62% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports. It was followed by Portugal, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value from France amounted to +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.4% per year) and Portugal (+26.9% per year).

Import Prices by Country

In 2022, the average metal rivet import price amounted to $X per ton, rising by 28% against the previous year. In general, the import price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 71%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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