Morocco: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Morocco

In 2021, the Moroccan iron oxide pigment market decreased by -13.1% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a prominent increase. Iron oxide pigment consumption peaked at $X in 2020, and then dropped in the following year.

Iron Oxide Pigment Production in Morocco

In value terms, iron oxide pigment production fell slightly to $X in 2021 estimated in export price. Over the period under review, production saw prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 519%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Iron Oxide Pigment Exports

Exports from Morocco

In 2021, the amount of iron oxide pigments exported from Morocco skyrocketed to X tons, growing by 225% against the previous year. Over the period under review, exports, however, showed a dramatic setback. The pace of growth was the most pronounced in 2016 with an increase of 1,066%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron oxide pigment exports soared to $X in 2021. In general, exports, however, saw a noticeable decrease. The pace of growth appeared the most rapid in 2016 with an increase of 570% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), South Korea (X tons) and Italy (X tons) were the main destinations of iron oxide pigment exports from Morocco, with a combined 100% share of total exports.

From 2013 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +484.9%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for iron oxide pigments exports from Morocco, comprising 78% of total exports. The second position in the ranking was held by South Korea ($X), with an 18% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of value to the Netherlands amounted to +339.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (0.0% per year) and Italy (+1.3% per year).

Export Prices by Country

The average iron oxide pigment export price stood at $X per ton in 2021, with a decrease of -28.4% against the previous year. Overall, the export price, however, continues to indicate a significant increase. The pace of growth was the most pronounced in 2014 an increase of 1,038% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (-2.6%), while the prices for the other major destinations experienced a decline.

Iron Oxide Pigment Imports

Imports into Morocco

Iron oxide pigment imports into Morocco dropped to X tons in 2021, with a decrease of -3.1% compared with the previous year. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 34%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, iron oxide pigment imports rose remarkably to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 27%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest iron oxide pigment supplier to Morocco, accounting for a 48% share of total imports. Moreover, iron oxide pigment imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+9.8% per year) and Germany (-7.5% per year).

In value terms, China ($X) constituted the largest supplier of iron oxide pigments to Morocco, comprising 42% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports. It was followed by Belgium, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.0% per year) and Belgium (+10.0% per year).

Import Prices by Country

In 2021, the average iron oxide pigment import price amounted to $X per ton, increasing by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Belgium ($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 (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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